Tài liệu Practice Made Perfect 13 pptx

98 PRACTICE MADE PERFECT

pensation was a factor in their deciding to leave, though the typical

adviser believes money is the only reason people leave their firm.

When you consider that the primary reasons to hire staff in the

first place is to create better leverage and delegate the work you’re

not particularly skilled at or interested in, then employee perceptions

about lack of challenge are especially jarring. Firms that have high

retention rates among valued employees do several things well:

! They have a management team that is aligned and cohesive and

has a shared focus.

! They have the right people in the right jobs.

! They maximize leadership strengths and focus resources on stra￾tegic priorities.

! They have an organizational structure that’s efficient, produc￾tive, and leverageable, while enhancing growth and supporting

current business operations.

! They link business goals to position responsibilities, perfor￾mance metrics, and reward systems.

! They emphasize teamwork, accountability, and commonality.

! They attract, retain, develop, and reward talents.

! They celebrate successes.

Managing Culture

Organizational culture is one of those soft and squishy concepts that

make financial-advisers-turned-business-managers queasy. It’s also

one of the primary drivers of staff satisfaction and staff turnover. It

boils down to answering the question, “What’s it like to work here?”

When it’s working well, the culture is the key element that holds the

organization together, gives everyone a common identity, and drives

commitment and behavior.

The keys to managing culture are:

! Knowing what the current culture is—getting feedback

! Knowing what the future culture should be

! Clearly defining and communicating both

! Being prepared to commit to a lengthy process of change

! Tying all factors and functions together

! Continually monitoring

! Ensuring that change is valued