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How Operational Excellence Attracts and Retains Talents

Operational Excellence is a systematic approach to improving business processes and performance. It can also significantly impact a company’s ability to attract and retain talented employees.

The Significance of Talent in Modern Business

High performers are crucial to any organization’s success. A study encompassing over 600,000 individuals across various professions revealed that top performers are up to 800% more productive in complex jobs like software development and management. However, many companies struggle with attracting and retaining such talent. A McKinsey survey found that 82% of companies don’t believe they recruit highly talented people, and only 7% think they can retain top talent once hired.

Employee Engagement and Retention

Employee engagement is a critical factor in retention. Gallup reported that over 50% of employees surveyed in 2015 were not engaged, and 17.2% were actively disengaged. Additionally, 73% were contemplating other job opportunities. The scarcer top talent becomes, the more vulnerable companies are to losing their best people to competitors, especially as younger generations exhibit less loyalty to employers.

Operational Excellence in Retaining Current EmployeesStrategyDriven Talent Management Article: How Operational Excellence Attracts and Retains Talents

 

Operational Excellence contributes to retraining employees through four main drivers:

  1. Enhanced Job Satisfaction:
    • Streamlined Processes: Operational excellence often results in streamlined, efficient processes. This can significantly enhance job satisfaction by reducing frustrations associated with inefficient workflows, leading to a more engaged workforce.
    • Employee Empowerment: A core aspect of operational excellence is empowering employees to contribute to continuous improvement. This empowerment can lead to a greater sense of ownership and loyalty among employees.
  2. Professional Growth and Development:
    • Continuous Learning: Organizations that excel operationally often prioritize continuous learning and development. This commitment to employee growth can be a strong retention tool, as employees value the opportunity to enhance their skills and advance their careers within the organization.
    • Innovation Opportunities: Operational excellence involves embracing innovation. Employees often find motivation in working for companies that are at the forefront of their industry, offering opportunities to work on innovative projects and solutions.
  3. Workplace Culture: Operational excellence contributes to a positive work environment, where efficiency, respect, and collaboration are valued. A positive culture is a key factor in employee retention, as it fosters a sense of belonging and satisfaction.
  4. Employee Recognition and Reward Systems: Effective operational systems often include performance-based rewards and recognition programs, which can increase employee motivation and loyalty.

Operational Excellence as a Talent MagnetStrategyDriven Talent Management Article | How Operational Excellence Attracts and Retains Talents

 

As operational excellence is mainly internal to the company, the challenge is to make it visible to the talent the company wishes to attract. This is how it can do it.

External Perception and Attraction of Candidates

  • Brand Image: Companies known for operational excellence often have a strong brand image. This image, reflecting high standards in efficiency, quality, and innovation, is appealing to potential candidates who seek to work in well-structured and successful organizations.
  • Market Reputation: Operational excellence contributes to a positive market reputation. Prospective employees are attracted to companies that are leaders in their field, as it suggests stability, growth potential, and a commitment to best practices.
  • Visibility Through Success Stories: Success stories and case studies showcasing a company’s achievements due to operational excellence can attract talent. Such stories often highlight innovative practices, significant improvements in processes, or achievements in quality and efficiency, which can be very attractive to skilled candidates.


Recruitment Messaging

Companies can leverage their operational excellence in their recruitment messaging, emphasizing the organization’s commitment to continuous improvement, employee engagement in decision-making processes, and the use of cutting-edge tools and methodologies.

Conclusion

Operational excellence is more than a business strategy; it’s a talent strategy. Companies that embed continuous improvement and learning into their culture not only excel operationally but also become magnets for top talent. By focusing on creating an environment where employees can grow and develop, these organizations can attract, retain, and develop the high-quality talent necessary for long-term success. The key lies in understanding the dynamic relationship between operational systems, employee engagement, and talent development. This holistic approach can transform a company into a desirable destination for the world’s best talent, thereby driving both operational and human capital excellence.

The Big Picture of Business – Ethics… Good for Business

StrategyDriven Big Picture of Business ArticleIn order to succeed and thrive in modern society, all private and public sector entities must live by codes of ethics. In an era that encompasses mistrust of business, uncertainties about the economy and growing disillusionments within society’s structure, it is vital for every organization to determine, analyze, fine-tune and communicate their value systems.

Corporate Responsibility is more than just a statement that a committee whips together. It is more than a slogan or rehash of a Mission Statement. It is an ongoing dialog that companies have with themselves. It is important to teach business domestically and internationally that:

  1. We must understand how to use power and influence for positive change.
  2. How we meet corporate objectives is as important as the objectives themselves.
  3. Ethics and profits are not conflicting goals.
  4. Unethical dealings for short-term gain do not pay off in the long-run.
  5. Good judgment comes from experience, which, in turn comes from bad judgment.
  6. Business must be receptive–not combative–to differing opinions.
  7. Change is 90% beneficial. We must learn to benefit from change management, not to become victims of it.

Corporate Responsibility relates to every stage in the evolution of a business, leadership development, mentoring and creative ways of doing business. It is an understanding how and why any organization remains standing and growing…instead of continuing to look at micro-niche parts.

Integrity is personal and professional. It is about more than the contents of a financial report. It bespeaks to every aspect of the way in which we do business. Integrity requires consistency and the enlightened self-interest of doing a better job.

Financial statements by themselves cannot nor ever were intended to determine company value. The enlightened company must be structured, plan and benchmark according to all seven categories on my trademarked Business Tree™: core business, running the business, financial, people, business development, Body of Knowledge (interaction of each part to the other and to the whole) and The Big Picture (who the organization really is, where it is going and how it will successfully get there).

One need not fear business nor think ill of it because of the recent corporate scandals. One need not fear globalization and expansion of business because of economic recessions. It is during the downturns that strong, committed and ethical businesses renew their energies to move forward. The good apples polish their luster in such ways as to distance from the few bad apples.

Corporate Responsibility means operating a business in ways that meet or exceed the ethical, legal, commercial and public expectations that society has of business. This is a comprehensive set of strategies, methodologies, policies, practices and programs that are integrated throughout business operations, supported and rewarded by top management.

Corporate Sustainability aligns an organization’s products and services with stakeholder expectations, thereby adding economic, environmental and social value. This looks at how good companies become better.

Corporate Governance constitutes a balance between economic and social goals and between individual and community goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for community stewardship of those resources.

As part of strategic planning, ethics helps the organization to adapt to rapid change, regulatory changes, mergers and global competition. It helps to manage relations with stakeholders. It enlightens partners and suppliers about a company’s own standards. It reassures other stakeholders as to the company’s intent.


About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

How To Attract Top Talent To Your Business

StrategyDriven Talent Management ArticleIf you want to be successful in the long-term, then you’re going to have to hire a team of people who are skilled and committed to helping you grow your business. You’re not going to get far if you’re closed-minded and behind the curve when it comes to technology and treating your employees fairly.

Be glad to know there are specific ways for how you can attract top talent to your business and help guarantee a bright future for your operation. You’ll thank yourself down the road when you have a strong team of people behind you who know what they’re doing and are loyal to your company.

Show that You’re Innovative & Cutting Edge

Employees want to work for a company that’s ahead of the game when it comes to technology and innovation. They’re looking to join businesses that are willing to take calculated risks and try new approaches. Attract top talent to your business by showing that you’re on the cutting edge of some interesting and intriguing projects. Prove to potential candidates that you’re problem solvers and aren’t people who take no for an answer.

Be Accepting of Everyone

You’ll be able to build a more stable and diverse workforce when you’re accepting of everyone, no matter their race, disability or gender. Investing in Custom Braille Stickers is a great example for how you can show that you’re a business that doesn’t discriminate. Your goal should always be to keep an open mind and hire the right person for the particular position you’re trying to fill.

Offer an Attractive Compensation & Benefits Package

You’ll attract top talent to your business when you prove that you’re willing to go the extra mile and invest in your employees. You can do this by offering attractive compensation and benefits packages to anyone who you bring onboard at your company. Cutting corners will get you into hot water, and eventually, you’ll start to lose your most skilled workers, and people won’t be interested in even interviewing with your business.

Promote Work-Life Balance

These days’ people seeking an available position are not only interested in learning more about the specific job duties, but also the company culture. Promoting an environment of work-life balance will help you catch the attention of talented workers who are looking to have a family life in addition to giving it their all in their career. Be prepared to provide examples of how you offer flexibility at your workplace during interviews and let it be a selling point for why someone would want to work for you.

Conclusion

You’ll find you’re able to grow a stable and thriving business when you have the right staff on your side. Use these tips to help you attract top talent to your business so you can continue to move forward and achieve your goals. Start the process by taking a look around and seeing where the gaps exist and then work hard to find people who are a good fit for each specific job opening.

Organizational Accountability – Evaluating Organizational Culture, part 3

StrategyDriven Organizational Accountability ArticleWhen evaluating an organization’s culture, it is important to understand that variations likely exist vertically among personnel levels and horizontally across divisions, departments, and workgroups. Consequently, it’s important to establish the degree of alignment between the various organizational levels and business units to the cultural characteristics being evaluated in order to fully understand the cultural adaptation and adherence within the organization.


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Additional Information

For additional information regarding organizational alignment and aligning mechanisms see:


About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Organizational Accountability – Evaluating Organizational Culture, part 2

StrategyDriven Organizational Accountability ArticleAn organization’s culture – its commonly shared values and beliefs – is both highly complex and interrelated. As such, no one cultural artifact should be used in isolation to describe an organization’s culture and each artifact contributes differently to the painting of the overall culture picture. Objectively viewing the collection of cultural artifacts and identifying their individual contribution significance is critically important to developing an accurate understanding of the organization’s culture.


Hi there! Gain access to this article with a StrategyDriven Insights Library – Total Access subscription or buy access to the article itself.

Subscribe to the StrategyDriven Insights Library

Sign-up now for your StrategyDriven Insights Library – Total Access subscription for as low as $15 / month (paid annually).

Not sure? Click here to learn more.

Buy the Article

Don’t need a subscription? Buy access to Organizational Accountability – Evaluating Organizational Culture, part 2 for just $2!


About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.