If you lead your business using the EOS (Entrepreneurial Operating System), you know that the subject of People is one of EOS Worldwide's Six Key Components™ of building a thriving business. You don't have to be running on EOS these days to understand how difficult it is attracting the best and brightest people in this very competitive landscape; and to keep them working for you long after they are hired! You know, the people who, like you, want to work hard at their goals, everyday, following your core values and producing for team wins. How do you begin to craft this type of organization? There are a few things that EOS tells us to consider.
First, you want to have core value fit.
Each person on your team should have core value alignment with those of the company. In our previous blog, "EOS: What is Your Company's Reason for Being? Vision," we talked about determining your organization's core values. If you don’t know yours, take some time to reflect and define them. This is a powerful exercise, and a prefect topic to introduce when hiring new talent or evaluating your current staff.
As expected, it all begins at the top.
Two key positions at the leadership level are the Visionary and the Integrator. The Visionary is often the owner of the business. He or she has an entrepreneurial spirit, is a generator of innovative ideas, a solver of high-level problems, and a relationship builder. The Integrator understands all the major functions of the business – sales, marketing, operations, finance, and more – and is the glue that holds all the pieces of the business together. Clarifying roles and establishing the natural authority of the roles will go a long way in aligning top talent throughout the business from there.
Empowering your leaders' unique strengths and talents.
A key job for the Visionary and the Integrator is to encourage and empower each member of their leadership team to rise to the peak of their abilities. They must be agile, able to embrace change, and excited to break through to the next level. All actions by leadership should be based on what’s best for the company as a whole to reach its vision; then work together to help the whole team understand the vision and carry it out successfully.
Structure your organization to help accelerate growth.
As you start to grow your business, structuring your expanding business will be important. The right structure will help you and your employees clarify roles and responsibilities so that accountability and reporting lines are clear. Other benefits include efficient decision making and problem solving, enabling communication flow, and improving productivity.
EOS has many tools to help you assess the right structure. One such tool is the Accountability Chart, a supercharged organizational chart of everyone in the organization. It helps you eliminate multiple and often confusing reporting lines between managers, staff, departments, partners, and more. And, it helps establish clear ownership and accountability to get things done. This is a dynamic tool that is always evolving, helping you evaluate change and to get you to the next level.
Another EOS concept is GWC™ – the difference between “Capacity” and “Get It.” GWC stands for: Get it, Want it, and Capacity. Here are three questions to ask when evaluating someone for a job (seat) in your company: Do they Get it? Do they Want it? Do they have the Capacity to do it? A simple "yes” or "no” is all that is required. No maybes. What does this mean? If a candidate or an existing employee answer "no" to any of these three questions, it should give you pause. The person is wrong for the job or is in the wrong seat. This kind of intel not only helps you find people who will be productive and efficient at what they do, but who also will feel happier while doing it. It can be a powerful exercise for both the business owner and employee if handled openly and honestly.
Is every person on your team playing to their strengths?
Regular evaluations of each team member, starting with leadership, will reveal possible weaknesses. Ask these questions about each team member: Do they understand the culture? Do they understand their role? Do they know how to execute their job? Do they have a desire to succeed and the ability to do so?
It may sound harsh, but when it comes to people that don’t have core value fit or work at a rock-star level, you may be better off parting ways – in many ways, a win-win for you both. Let that person move on to find a scenario that meshes better with their personal vision and goals, and you then focus your energy on recruiting and nurturing resources that align with your core values, culture, and performance expectations. Your business will be stronger and be better positioned for growth. Another EOS tool to help is the People Analyzer which pulls Core Values and the Accountability Chart together and helps you identify if everyone has the right skills, aptitude, attitude and capacity for the position they are currently holding. The results may surprise you and your employees, and always is a move towards a stronger, cohesive organizational structure.
Is EOS right for your organization?
If you have questions about EOS or other financial challenges your organization is facing, please let us know how we can help. At All In One Accounting, we take businesses from financial chaos to business clarity and beyond. Our elite team of Accountants, Controllers, and CFOs are ready to help you in these uncertain times. Contact us for a FREE consultation with one of our accounting professionals.