The term “momentum” is often heard in sports commentary. In basketball the “hot hand” describes a player who just can’t seem to miss and makes several consecutive shots. The football team that has the “momentum” usually ends up as the victorious party. In Physics and Architecture it’s a cornerstone defined as the ability of an object to continue moving because of its mass and velocity. Think of a snowball rolling down a mountain side – what starts as a small, slow moving object, can easily become a forceful fast moving large object that could do some real damage to anything in its way.
The Performance Flywheel
‘No matter how dramatic the end result, good-to-great transformations never happen in one fell swoop. In building a great company or social sector enterprise, there is no single defining action, no grand program, no one killer innovation, no solitary lucky break, no miracle moment.
Rather, the process resembles relentlessly pushing a giant, heavy flywheel, turn upon turn, building momentum until a point of breakthrough, and beyond.’
Jim Collins, Good to Great
The “Flywheel effect” is a concept from the book “Good to Great” by Jim Collins. Momentum in Business can be defined in relation to perceptions of moving towards an organisational goal. However it is as important to note that momentum in performance can be positive or negative. A business that has delivered positive results in consecutive periods would likely be showing positive growth momentum, while a business that has declined continuously would be experiencing negative momentum.
If so, how do we create sustainable positive momentum in performance to ensure our flywheel keeps on turning What does this all mean for a business and it’s performance?
We discussed the subject in the light of our case study by connecting the dots on our BIG PICTURE® Board with the help of our unique storytelling method.
The ‘webinar’ word doesn’t really describe what it is we do with our time in sessions. We love a conversation where everyone has the chance to contribute.
Participants are provided with the means to make connections thus drawing attention to the conversation that is going on around.
It’s how we roll!
The case study proves why we believe in the “Power of People” and the importance of engaging colleagues to achieve business success. This is why we at YourBigPic advocate for Continuous Everyday Performance Management System. Our unique BIG PICTURE® Board and Symbol assist managers and colleagues to have two way meaningful, inspiring and engaging conversations. It draws a clear picture and guides them to set mutually agreed objectives, identify challenges and opportunities. More importantly it connects people to their organisation, helps them feel valued.
Business Leaders share some common problems and frustrations. They are concerned with the productivity and performance of their teams, the results can fluctuate and they may lose their competitive edge in the market. When the momentum blows from the wrong direction, they may even struggle to retain or attract talented people.
How do you keep the flywheel turning for the momentum behind your business growth?
Modern business is fast-paced and full of surprises. Companies face unexpected pressures and obstacles daily and they need to be agile, to thrive and compete. They need their teams more than ever. To make this happen they are required to create organisational cultures that are diverse and pluralist in their approach to their colleagues. They need colleagues who are empowered, connected and able to take ownership over their work.
They need performance management systems that accommodate this reality. The Management Thought Leaders argues that performance management should be part of managers’ daily tasks and not an exercise they carry out once or twice a year. Continuous performance management conversations enables this approach by providing instant communication, strengthening relationships through transparent dialogue and giving employees autonomy and independence — some-thing that greatly appeals to the modern workforce.
The market leading organisations have already started with this transformation and have replaced their dated performance review processes with everyday performance management systems. They have established an organisational culture where managers hold frequent, two way dialogues with their colleagues and provide constructive feedback.
A recent study indicates that 70% of the employees who work with the continuous performance management system feel valued and engaged with the organisational goals due their ongoing performance discussions with their line managers.
Furthermore, the exercise is also cost and time effective as it provides a substantial saving on the unproductive management hours required for the form-filling process of the old review system.
YOUR TAKE AWAY
We’d love you to take the time to watch the highlights and either way here are our brief notes about what you can take away from the session:
1. People Power is revolutionising the classic performance review systems;
2. Modern businesses are re-evaluating their approaches to how they conduct performance reviews.
3. The organisational cultures are shaped around transparency, diversity, inclusivity and engagement. The modern ways of working require a performance management that reflects on these values and is continuous;
4. Continuous Performance Culture is a holistic approach and it replaces the Classic Annual Performance Reviews. It is conducted by effective frequent “Check-in” and “Feedback” processes that are based around identifying short term objectives and establishing goals and reviewing the progress.
This makes the Performance Management simpler and more natural for both leaders and colleagues. A “Check-in” can be a one-to-one dialogue between a Manager and Colleague typically discussing:
– Progress against agreed goals;
– Personal Development Activities;
– New goal setting;
– Creating actions;
Time to tell your own story – let’s go ..
WHAT NEXT ?
Please do ask us to help you achieve this same impact in your organisation. We can deliver this activity for you and at the same time upskill your team to take over the delivery. You can weave this into your ongoing activities which means you’re paying once for resources and deploying them many times across your organisation.
Find out more about our approach for Engaging Performance led by Tunch Tole. You can have a go yourself by printing and writing on the resource within the brochure you can download. The stuff we care about is all over our YouTube channel @YourBigPic. I would love to take you through a taster of BIG PICTURE® in a Webinar you can sign-up for here. Thanks for reading!