How Can You Build a High-Performance Organization?
Don’t you wonder why some organizations consistently outperform others and how achieve excellence in everything they do? Is it possible to replicate the success story of these organizations?
Every organization is unique and what works for one might not necessarily work for others. As such, it is difficult to draw straightforward insights or success formula from them. But according to a Bain & Company Research Report, successful organizations share several common characteristics. According to the report, six organizational outcomes are key to high performance.
The most important is to align closely with the overall business strategy. Organizations that can’t achieve this will never manage to improve efficiency and productivity. So, just having a strategy in place won’t suffice. Management will have to ensure that every process and unit in the organization is aligned to its strategy for its proper execution. Quite often, organizations will have to identify those capabilities that will help them translate strategy into successful action. Excelling at these identified capabilities will facilitate superior performance.
Effective decision-making is important to propel the organization into action and in the right direction. High-performing organizations make better and faster decisions, and execute these consistently. This gains even more importance in today’s dynamic environment where technology and consumer expectations are rapidly changing. Leading organizations can adapt and change quickly.
High-performing organizations have minimal complexities in their management structures and core processes. This provides agility to capture market opportunities, and prevents cost escalation. It also helps in executing decisions faster and more efficiently.
Organizations that demonstrate high levels of employee engagement definitely outperform those that don’t. This can be especially critical in service-intensive sectors. An organization can have the best of strategy and leadership, but won’t be able to generate great performance if employees demonstrate weak engagement.
MYB believes that there is no formula that guarantees high organizational performance and success. Without passion for improvement and commitment of senior management, even high performers cannot retain the top slot for long. But the good news is that to build a high-performance organization you can always begin from where you are. How about starting today?