Doing More With Less Thriving in the post-recession Thriving in the post-recession (or anytime…) Hugh Coppen, President Winning Leadership, Inc. 1©Winning Leadership, Inc. All rights reserved

The New Realities Global & local impact of ‘Great Recession’ Global & local impact of ‘Great Recession’ Slow US recovery Slow US recovery – Chronic unemployment – Housing market – Withdrawal of stimulus – Impact of policies on global economy (incl. Canada) Recovery constraints Recovery constraints – Risk of double-dip – Tight credit – Business hoarding cash (except Disney) – Reduced customer & consumer spending 2©Winning Leadership, Inc. All rights reserved

Implications 1.Continued need to eliminate: – Ineffective work – Outdated processes – Wasted effort (time and expense) 2.Focus instead on: – Work that improves the customer experience – Work that contributes improved revenues/profitability – Processes that are leaner, simpler, faster 3©Winning Leadership, Inc. All rights reserved

Four Ways to Do More With Less 1.Clearly define your business strategy 2.Control costs and waste 3.Balance workloads 4.Manage your time better 4©Winning Leadership, Inc. All rights reserved

1. Defining your business strategy Strategy: The statement of your business’s value proposition, written in simple, non-jargon words - so customers know what to expect; and - so customers know what to expect; and - so employees know what is expected of them every day. - so employees know what is expected of them every day. 5©Winning Leadership, Inc. All rights reserved

1. Defining your business strategy.. 2 Must have a strong value proposition: 1.Customers: – Know why they have chosen your business – Remain loyal to your unique & distinctive value 2.Employees: – Know what customers expect – Helps them make the right work choices – Focus on productive, value-adding activities – Are more collaborative with a common purpose 6©Winning Leadership, Inc. All rights reserved

1. Defining your business strategy.. 3 Characteristics of a strong value proposition: 1.Easily articulated, easily communicated 2.Has a central idea that appeals to key stakeholders 3.Clearly expresses your unique offering 4.Clearly differentiates your competitive offering 5.Meets the wants and needs of customers & prospects 6.Is sustainable and attainable Don’t confuse a value proposition with a tagline – a tagline is just a communication tool 7©Winning Leadership, Inc. All rights reserved

1. Defining your business strategy.. 4 Examples of strong value propositions: IBM:Creating customized business solutions Fedex:Peace of mind (“On time. Every time”) SouthWest:Makes flying easy & affordable Zappos.com: Customer joy and extraordinary service 8©Winning Leadership, Inc. All rights reserved

2. Control Your Costs Focus intently on any cost that does not impact customer experience Outsourcing = lower cost (+), variable quality (-) Outsourcing = lower cost (+), variable quality (-) Opportunities: Opportunities: – Make fixed costs variable (e.g. renegotiate leases) – Zero-base all expenses – Recognize & reward implemented cost savings innovations – Pay bonuses with retention methods, not cash (if possible) – Reward managers who find ways to do things differently ©Winning Leadership, Inc. All rights reserved9

2. Control Your Costs… 2 Involve your people by: Asking them how they would make their job easier Asking them how they would make their job easier Asking them how someone else could make their job easier Asking them how someone else could make their job easier Helping them understand how their work touches customers Helping them understand how their work touches customers Convincing them that you see them as the experts in their jobs Convincing them that you see them as the experts in their jobs Creating meaningful recognition programs Creating meaningful recognition programs Creating open channels for ideas – then responding to them Creating open channels for ideas – then responding to them Demonstrating that they can really trust you Demonstrating that they can really trust you Showing that you genuinely care about their well-being Showing that you genuinely care about their well-being ©Winning Leadership, Inc. All rights reserved10

3. Balance workloads Beware the consequences of workforce cuts: Increased work/life imbalance, higher stress levels Increased work/life imbalance, higher stress levels Resentment and reduced commitment Resentment and reduced commitment Burnout, reduced loyalty, increased turnover Burnout, reduced loyalty, increased turnover Reduced customer care and service levels Reduced customer care and service levels Compromised work quality Compromised work quality Poor morale, uncooperative attitudes Poor morale, uncooperative attitudes Less ‘over and above’ effort Less ‘over and above’ effort ©Winning Leadership, Inc. All rights reserved11

3. Balance workloads… 2 Offset the negative impact of workforce cuts: Acknowledge openly the pain – give realistic hope Acknowledge openly the pain – give realistic hope Demonstrate that you are sharing the extra work Demonstrate that you are sharing the extra work Simplify and ‘lean’ processes for efficiency Simplify and ‘lean’ processes for efficiency Show appreciation with tangible recognition/reward Show appreciation with tangible recognition/reward Keep an open dialogue for continuous innovation Keep an open dialogue for continuous innovation ©Winning Leadership, Inc. All rights reserved12

3. Balance workloads… 3 Realign your workforce: Get rid of poor performers, nurture top performers Get rid of poor performers, nurture top performers Move people into roles that play to their strengths Move people into roles that play to their strengths Upgrade job titles to recognize added responsibilities Upgrade job titles to recognize added responsibilities Identify team strengths and weaknesses Identify team strengths and weaknesses Identify, or hire, people who are the best ‘fit’ Identify, or hire, people who are the best ‘fit’ Give autonomy & accountability – get out the way! Give autonomy & accountability – get out the way! ©Winning Leadership, Inc. All rights reserved13

4. Manage Your Time Stay focused on priorities that grow the business Stay focused on priorities that grow the business Use written “to do” lists, prioritized & updated Use written “to do” lists, prioritized & updated It’s OK to be unavailable if priorities demand It’s OK to be unavailable if priorities demand Set ‘open office hours’ when you will be available Set ‘open office hours’ when you will be available Manage meetings tightly & effectively Manage meetings tightly & effectively Stop doing anything someone else can do Stop doing anything someone else can do “Either you control your time or everyone else does” “Either you control your time or everyone else does” ©Winning Leadership, Inc. All rights reserved14

Doing More With Less Bottom line: A mindset as much as a way of managing A mindset as much as a way of managing Your behavior models what you expect of others Your behavior models what you expect of others Think lean, act lean, be lean Think lean, act lean, be lean Help your people work smarter, not harder Help your people work smarter, not harder ©Winning Leadership, Inc. All rights reserved15