This article is the fourth part of this five-part series focussed on Workforce2035.
We all know the names of key players operating in the performance world: Amazon, Apple, Google, Uber. And before that, Ford, Microsoft, Toyota, SAP, Dell.
This higher performing workplace is one of super engineered process flows, high-tech optimisation strategies and value engineered margins. AI, robotics and all technology is embraced, provided it can deliver the critical 0.1% improvement. High performance is at the heart of a successful team.
As we step into a high performing territory, we need to understand the five key principles which drive success.
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Metrics
In order for teams to perform, they need to understand what good performance is. Metrics are a way of measuring progress, providing focus and allowing leaders to accurately manage their teams. Shared goals and clear rewards are the backbone of a high performing territory. Consistent feedback against clear targets ensures progress is unified and manageable. Metrics provide focus. Focus provides results.
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Scale
Scale is evidence of high performance in this territory. Growth and reach are vital principles of a high-performing territory. The belief that bigger is better isn’t just an alibi for hard work, but a mantra for success. As size and influence grows, so do profit margins. No longer can a few decision makers hold all the cards. Delegation and empowerment now allow new leaders to emerge with fresh eyes and strong ambition. Well-appointed managers are the secret to sustainable growth.
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Efficiency
The high-performing territory is dominated by those who are able to establish an efficiency culture. Within this territory, developing strong feedback loops and applying learning not only breeds high performance, but sustains it. The overall goal isn’t the end goal here, it is a by-product of improving the speed at which it is achieved; in other words, the journey is where richness is found, not just the destination. Adaption and evolution of processes to gain greater efficiency are celebrated here, not resisted.
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Market Share
The larger the market share the more control the company has to shape the future of that market place, therefore entrusting its people with the privilege of impacting the landscape. Within this territory, people feel they are having a ground-breaking influence on the change in that sector as well as complete security in the foundations of their job and the company. An appetite for a continual increase in market share characterises successful companies in the high-performance territory.
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Defined Success
Success breeds success and in this territory the winner still takes all. Achieving success is the main driver of job fulfilment and satisfaction.
Workers in this environment are polarized into either skill-focused and well-paid jobs, or scale-focused and low paid jobs. In this performance-driven world, success and individualism takes a higher priority than social responsibly.
Having good metrics, increased scale, evolving efficiency, an appetite for market share and success are the cornerstones for high performance in today’s world. The people of Workplace2035 want high performance.
Next in this series: Sustainability and its Implications on Success