Who cares about vision; Show me the money

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BY Mike Foti

We want to make more money. We don’t have enough time. Business scholars talk about having “a vision” and “adding value” but they couldn’t have more things to do on their desk than I have on mine! Why do I need a vision anyway? I’m not George Bush, Gandhi, or Martin Luther King Jr., I’m just an owner of a small business!

As an owner and leader one of our key challenges now is to keep our best people. In this time when some employers are giving away free prizes to just get entry- level employees to fill out job applications, we need to find ways to keep our people! We need to give people a reason to stay with us. They want to, and need to know what we are doing and why. You might ask why is a paycheck no longer a good enough reason to stay? Consider some of the following:

  • There is some employer out there who will show them more money than you! How many employers have felt that they have had an employee “stolen” from them?

  • Generation X and Generation Y employees are more entrepreneurial. This presents a leadership challenge to provide them with interesting assignments. Telling them to do something because I said so no longer works. They want to know why!

  • Older employees are staying in the workforce and they want fulfillment (notice the Greeters at Wal-Mart) and a sense of purpose.

  • Many people don’t care if they “burn your bridge.” Your competitors would love to hire them tomorrow.

  • A recent study by Watson Wyatt Worldwide found that the top driver of employee loyalty is trust in the leadership and a chance to use their skills. Trust is built by communicating where we are going (i.e. our vision) and giving people the chance to use their talents towards this purpose. 

Vision sounds like Business School stuff, How can I do it?

For a vision or a mission to be truly energizing it has to be about more than just “Show me the money!” While it is critical for businesses to be profitable (and I am certainly not adverse to making money) others working on our “teams” really don’t care about our pocketbook. They want to get their bills paid, have some time and money to enjoy themselves, and contribute and be recognized for their efforts! So how can we create a vision that unites of our efforts? Consider this 4- step process:

  1. Think about what really bugs you within and/or outside of the company. - This question can help us to focus our vision. My area of interest and concern has been education (1/5 of workers in this country cannot read above the 3rd grade level). Our company vision, “Great People Getting Better,” has included several educational and training programs to benefit all levels of our employee base. If you cannot determine what your vision is consider what leaders you admire and what is it about their vision that inspires you. 

  2. Ask, “Does anybody else care about this problem?” and “Who wants to work with me to figure out this “vision thing?”– For a vision to be truly exciting others on our team they have to see the mutual benefit. Are they going to feel good because the vision is either helping them or the larger community? We need others committed and involved! Our vision has to not only include them, but add value to them as well. 

  3. Explain it in simple terms. – This is not the time to impress people with our big words. The vision must be understandable for the person at the lowest level of the organization. Communicate the vision as frequently and prominently as possible both verbally and in writing (on walls; business cards; in meetings etc.).

  4. Focus our efforts – If we have 10 things that we want to accomplish with our vision we will probably get none of them done! Consider 1 to 2 key items to rally around. 

Are you still confused? If so consider working with a leadership coach, mentor, or sign up for a strategic planning or leadership course through your local chamber of commerce or university. 

Turning the Vision into a Plan of Attack and a Mission

The vision is nothing more than “B.S.” (I don’t mean Bachelor of Science here!) without the programs and strategies to back it up! It’s in the tactics and the execution of the vision that we can separate our company from the competition. The question becomes how can we go from concept (i.e. vision) to reality (the mission and tactics)?

  • Brainstorm with various people on programs and strategies that will support the vision – Ask what can we do to advance our vision. What specific kinds of programs can we offer that could benefit not just the “knowledge” workers but the person pushing the broom as well!

  • Put into action the talents of others – Most people want to contribute and everyone wants to feel valued. Get people from all levels of the company involved in developing, implementing, and participating in the new initiatives. This can be a great opportunity to develop leadership talent!

  • Mix it up – Consider constantly updating and adding to the programs. The “old” programs will eventually get boring and “lose their steam.”

  • Put your money, and time, where your mouth is! – Consider giving the staff a paid “day off” to jointly participate in a volunteer program that will advance the vision. This will also help build the team. 

  • Measure our performance – Keep track of the participation and satisfaction with the programs. Hand out a questionnaire once a year to see if others can write down the vision. See if they believe in the vision, and have any thoughts on if and how it needs to be changed. 

The bottom line is simple. If we show our people a mutually beneficial vision, they will in turn show us the money!

If you would like to have Mike speak to your group consider the following programs:
"Increasing Flow and Igniting Fire" - Winning Advice for a Tough Economy
"Leading for Entrepreneurial Success"
"Design/ Build Leadership - End of the Winner Takes All"
"Seeing the Forest from the Trees"

If you want to get Mike's insights on this topic in one on one sessions click here.

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Mike Foti is Chief Executive Officer of Cleveland Glass Block (a Northcoast 99 recipient for best employers in Northeast Ohio and a Community Pillar Award winner for community service) and President of Leadership Builders. Mike is a national speaker, writer, and consultant who helps individuals and companies get results through people. To ask Mike how he might help you, or to receive his free tips and leadership articles, call 216-531-6085 or visit his web site at www.leadershipbuilders.com.


 

 


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mfoti@leadershipbuilders.com
Tel. 216-531-6085
Fax. 216-531-2388

 

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