Beating the Odds: Keeping Employees Engaged
Failure in business is abundant.
In fact, 80% of entrepreneurs fail within the first 18 months.¹
This is for many reasons, such as,
lack of capability
ill-prepared marketing approach
deficiency in operational execution
Traditional management systems leave employees uninspired due to the unclear and misaligned expectations, infrequent and ineffective feedback, and misplaced accountability.
This disconnect between senior leadership strategy and front-line job function is incredibly common, and it creates large gaps in organizational performance, knowledge, and visibility.
In fact, ninety-five percent of organizational employees do not understand how their daily tasks relate back to the organization’s strategy.²
Gallup estimates the industry’s cost of this disconnect at almost a trillion dollars annually.³
This is a struggle not only for existing companies, but it poses a significant risk for reorganized companies, either through internal changes or external mergers or acquisitions.
In fact, only 16% of reorganized companies meet all of their objectives within their planned time frame.†
Why Is It So Hard To Keep Employees Aligned and Engaged with Strategy?
What makes the alignment between employees and strategy so elusive, and how can organizations successfully meet and exceed their goals while keeping employees engaged and connected?
How can organizations use this to outperform and differentiate themselves from competitors?
SOAR Vision Group (SOAR) has defined its organizational purpose around answering these questions through the implementation of its Strategy Execution System. SOAR serves other organizations by helping them find their specific purpose and aligning their organizational goals, culture, and performance to meet the overall strategy.
This is the first LeaderDialogue blog in a series that will highlight the approach and significance of SOAR’s Strategy Execution System, as well as share the origins and impact of SOAR’s strategic partnership with the Baldrige Foundation.
Be sure to also browse the “Baldrige Connection” tab to learn more about the specific linkage between a Strategy Execution System and the prestigious Baldrige framework.
¹ Wagner, E. T. (2013, Sep. 12, 2013). Five Reasons 8 out of 10 Businesses Fail. Retrieved from Forbes.com.
² Kaplan, R. S. N., D.P. (2005). The Office of Strategy Management. Harvard Business Review (October 2005).
³ Wigert, B. H., J. (2017). Re-Engineering Performance Management. Retrieved from Gallup.
† Ghislanzoni, G. H.-R., S.; Jermiin, M. (2010). Taking Organizational Redesigns from Plan to Practice: McKinsey Global Survey Results. Retrieved from McKinsey & Company.