Hiring the best talent, motivating them to succeed and retaining them for as long as possible is a real leadership challenge. Company culture is important. A well structured compensation strategy aimed at all members will be a real asset. It will also be a work in progress as you endeavour to find the perfect mix.
Not long ago, I felt that people were already switching off to the negativity. There is only so much doom & gloom that people can stand. The reality is we are not approaching the end of the world as we know it, but more morphing into a new world. This new world will allow companies, owners and employees to develop new skills, strategies, careers and markets.
Without clear goals and a plan, human nature usually dictates that you will eventually become fatigued with the day to day challenge of running a business. Some business partners I worked with recently had successfully run their business for nearly eight years. As the fatigue started to set in, they wondered what the point was or what was in store for them and the business.
Innovation is synonymous with metamorphosis and is the buzz word in many modern organisations today. How innovation is approached varies from company to company and industry to industry. One thing that is for certain is that innovation should be driven by the overall Corporate Strategy and Culture...
.....the single biggest reason to spend time developing a Strategy Map for your organisation is to develop a tool which allows you to communicate the strategy in a consistent manner across the whole business. As the CEO, it is not good enough that you and the board understand the strategy and the key objectives for the year.
A few weeks ago I spent a day interviewing the members of the leadership team of a fast growing services business in SE Asia. Talking with young, intelligent, energised and switched on leaders is always great. Within a few minutes it is easy to ascertain which leaders understand the company Mission, Vision and Strategy.