How a Good Manager Eliminates Wasted Time to Improve Performance
One of the interesting outcomes of these challenging economic times is that companies are doing less with more. They have laid off millions of people and downsized in almost every area. But the level of productivity, performance and output per person has actually gone up. Companies are maintaining or increasing their levels of productivity and quality with fewer people, but with people who are better selected, better organized and better managed. This must be your goal as well.
As a good manager at any level, you are really the operator of your own business success. You have revenues and expenses, inputs and outputs, production requirements and measures of performance. Your profit and loss statement is based on your ability to combine people and resources to get results, especially financial results, that are in excess, and ideally greatly in excess of their total costs.
Achieve High and Consistent ROE
The measure of business success is largely determined by how well the managers of the business achieve a high and consistent return-on-equity (ROE). The purpose of strategy, planning, tactics and operations is to organize and reorganize the assets of the business in such a way that this increase on equity, the increase on the actual capital that the owners have invested in the business, is the very highest possible in any market, and especially in comparison with competitors in the same business or industry.
Free Report: Discovering Your Talents!
As a good manager, your job is to achieve the highest “return-on-energy” of the people who report to you. Your central focus should be to achieve the highest possible return on the expenditure of physical, emotional and mental effort, human capital that your people invest, or are capable of investing, in achieving the results for which you are responsible.
Eliminate Wasted Time
According to Robert Half International, the average person works at about 50% of capacity. Because of unclear job assignments, lack of priorities, poor management and direction, and lack of feedback, the average employee wastes 50% of his time or more in activities that have nothing to do with the job.
This wasted time is consumed in idle chit-chat with coworkers, extended lunches and coffee breaks, coming in late and leaving early, surfing the internet, personal business and other time-filling activities that represent virtually no return to the company on the amount invested in paying the salaries, wages and benefits of those people.
But, as the saying goes, “here are no bad soldiers under a good general.” A good manager with a clear vision can quickly organize a group of average performers into a peak performance team that is capable of achieving tremendous results for the company’s business success. You just need to learn how to do it.
A Good Manager Encourages Productivity
The good news is that all the answers have been found. As the result of decades of research and millions of hours invested in personal and organizational performance, we now know exactly what you need to do and to stop doing, to get the very best out of your people. Since 65% to 85% of the cost of operating a business, aside from cost-of-goods-sold, is consumed in salaries and wages, your ability to tap into this unused 50% and channel the human energies of your staff into higher levels of productivity and performance enables you to make a real difference in your position, whatever it is.
Here it is: The way you treat people, what you say and do that affects them emotionally, is more important to bring the best out of people than all the education, intelligence or experience you might have at doing your job. The best news of all is that you already know everything you need to know to become a good manager, unlock the potential of the people around you, and build a peak performance team that delivers consistently high levels of results for your company and eliminates wasted time.
Why is it that 20% of companies earn 80% of the profits in each industry? Why is it that 20% of companies enjoy 80% of the growth in any particular industry? Why is it that 20% of companies sell 80% of the products and the services sold in any market? Why are some companies more successful than others?
Business Success in Today’s Market
The answer is simple: The best companies have the best managers. As a result, the best companies have the best people, people who consistently out-think, out-compete, and outperform their competitors.
The true measure of your true value as an executive is performance. It is your ability to get the most important results that are expected of you. Like a craftsman, your tools are the people with whom you have to work. Since all work is done by teams, and the quality of the team is determined by the performance of the individual team members, your ability to get the best out of each person largely determines your results, your rewards, your income, your rate of promotion, and your ultimate position in your business. Rule Number 1 is that “your life only gets better when you get better.”
Rule Number 2 is that, “your people only get better when you get better.”
Since there is no limit to how much better you can get in the weeks and months ahead, there is no real limit to how good a manager you can become, or to the quantity and quality of the results that you can achieve in your position.
About Brian Tracy — Brian is recognized as the top sales training and personal success authority in the world today. He has authored more than 60 books and has produced more than 500 audio and video learning programs on sales, management, business success and personal development, including worldwide bestseller The Psychology of Achievement. Brian's goal is to help you achieve your personal and business goals faster and easier than you ever imagined. You can follow him on Google+, Twitter, Facebook, Pinterest, Linkedin and Youtube.