By: Brian Ragan, Senior Strategic Management Consulting Services
The following is part 22 of a multi-part series on The KHA Way, KHA Management Consulting’s Integrated Service Offering. This blog series includes the benefits of using KHA Management Consulting Services and the components included.
Previously, we discussed some of the concepts behind Management Compensation Planning, bringing this section to a close. Here, we would like to offer a quick recap of the topics covered in this series and ask you for a phone call and a quick conversation to go over what can The KHA Way do for you?
It is critical to have an environment accustomed to business processes. If your business and its employees can follow processes, then as items change or are tweaked, the results can be expected to fall in line accordingly. With predictability comes certainty and with certainty comes results.
Those departments who govern processes and procedures for the business should be held accountable to results. For example, if a call center is being measured as a whole, metrics like customer satisfaction, average wait time, average duration of call, and upsell/cross-sell close rate can all be measured. These metrics driven from the organization level goals can then be translated into individual metrics.
With regards to individual metrics, it is key that each employee has a number that he/she must target to achieve. Whether this number is daily, weekly, monthly, or annual, its progress must be clearly visible to the employee and entirely objective. The objectivity and visibility are key to letting your employees know how they are doing at any point in time.
Equally important is that each employee, not only know what is expected of them, but the organization preferred method for accomplishing that goal. This is your ‘Processes and Procedures’. Each position in the organization should have a clearly laid out procedures manual detailing how each employee achieves their goals.
Finally, if an employee achieves their goals, and the organization achieves its goals, the employee should be rewarded for it. This is Management Compensation Planning. KHA has become experts in crafting custom, organization specific compensation models for various organizations in a multitude of industries. We would be happy to do the same for you.
At KHA Management Consultants, we work with mid-market industry leaders to identify what makes the organization, its stakeholders, and its’ employees tick. We facilitate Process Alignment with your organization’s key constituents to ensure buy-in, ownership, and a new way of thinking about the organization and its stakeholders amongst all levels. From a resource perspective, we primarily use our unmatched experience but also tap into the top-level resources such as those made available by Harvard Business Review, relevant strategic management authors, and MentorPlus. Some of those materials, frameworks, and lessons have been used in authoring this series.
KHA Management Consultants, the consulting department of KHA Accountants, PLLC, based in Flower Mound, Texas, is always looking for opportunities to work with key clients ready to take their organization to the next level. If you have a desire to improve, take the first step toward success with the strategic management experts, and contact us at 972-221-2500.