Table of Contents Hide
- The challenges faced by Manufacturing CEOs
- What is Business Coaching?
- What are the Business Coaching Services for Manufacturing Companies?
- Identifying company targets through an inclusive process
- Bring Attention to the Actions that Drive Performance and Build Accountability
- Set up an Interactive Method to Engage
- Structuring A Bonus Plan Or Incentive Program
- Create Scoreboards to Regularly Monitor Progress against Targets
- What do people say about Business Coaching?
Business owners may feel they are struggling to stay on top of manufacturing challenges. This can lead to them working longer, more complicated hours and less time spent with family and friends. A business coach could be the answer to reducing some of this pressure.
Business coaching can provide CEOs with valuable insights and results. Owners have also reported that coaching has helped them overcome their initial hesitation to work “in” their business and move towards working “on.” The owners can then focus on building the strategy for their company’s future.
This post will cover the effectiveness of personalized business coaching in manufacturing, its workings, and expectations.
We say that “personalized” coaching is the best way to describe our services because every business is unique and faces challenges. Our coaches use a tried and true process to coach clients. However, we like to stick by the “adapt, not adopt.” Our coaches are constantly looking for the most effective ways to customize our processes to fit your business.
The challenges faced by Manufacturing CEOs
The manufacturing industry is constantly changing. CEOs can benefit significantly from a one-on-one coaching service that demonstrates how to apply the Great Game of Business principles.
A certified Great Game coach can provide you with personalized coaching to help you deal with the following:
- Internal Operations
- Worker retention
- Workforce development
- Culture of the company
What is Business Coaching?
First, we listen. This initial call serves as a first point of contact. Here, we identify the key issues that you are struggling with. We also determine if The Great Game of Business will work for you.
You will then get an overview of the big picture. You’ll be introduced to the unique framework for doing business that puts employees first, and we’ll see if you’re a fit.
We’ll also offer some solutions. You’ll be paired with a coach who has: A.) We’ll pair you with a coach who has: A.) The excellent manufacturing experience.
Depending on the situation, we may recommend joining our Business Networking Community as an alternative to coaching.
When you hire a business coach, we shift from an overview of the company to a series of highly-actionable steps to help map, identify, and resolve existing problems in your organization.
What are the Business Coaching Services for Manufacturing Companies?
The list is long for coaches. The following are some of the most expensive items that coaches deliver to their clients:
- Build a culture that is transparent and open to encourage big ideas, growth, and innovation
- Coaches help lay the foundation for a culture of transparency and openness. Why should we create a culture of transparency? Why? Because every CEO should be looking to harness the power of all their employees.
- To tap into their best ideas, employees must understand how the company works and what is essential to success. Transparency is required.
- Leaders must share numbers with employees to get a full view of the company. You must then TEACH your employees the meaning of those numbers and WHY they are essential (no, you do not have to reveal every number). You can combine some information, such as salaries, to prevent adverse and unnecessary reactions.
- It can be challenging to implement a transparent organization. A regular communication stream and trust must be built. The Great Game ™ coaches can help your organization prepare for a culture shift.
Financial literacy is a critical component of the leadership development program. They will provide leaders with tools to help them lead change in their organization and give insight into how employees can be educated. Your employees will significantly influence your business’s results if they understand how to navigate the financial world.
Identifying company targets through an inclusive process
There is a number that you can improve in your organization, a financial or operational one, which would significantly boost your company. Although you may know the number, does everyone in your company understand its importance? This is the critical number(tm) of your company.
A coach, with your team’s assistance, will determine this number. The entire team is involved in setting the company’s targets. No one wants to receive a goal they do not believe in from the boardroom. The coach can then rally everyone around the number/target.
They’re more likely to help you achieve your goal if they know the whole team created it. It helps to create clarity and alignment on the essential things for the business, preventing departments from being siloed. Departments start looking for ways to help one another reach the same goals.
Bring Attention to the Actions that Drive Performance and Build Accountability
After your employees have identified what is critical for success, they must understand how to achieve this success. Identifying actions that influence performance allows everyone to understand their role in influencing targets, individually and collectively. It gives the employees a clear line of vision from their everyday actions and decisions toward the essential goals of an organization.
Coaches can use other methods to help managers and employees understand how their actions affect the company’s financial results.
Each department within the organization, from sales to material management, will identify its drivers/measures. Some examples include improved inventory management, more efficient buying, reduced capital expenditures, and increased shop efficiency.
Obstacles have no chance when a coach has everyone focused on the critical number and taking action on the correct drivers.
Set up an Interactive Method to Engage
The Entire Organization in Generating Results Within 90 Days!
Your coach can help your team win by assisting them in identifying their targets and then taking the appropriate actions to influence those targets. Your coach and the team will create a MiniGameTM (90-day activity to correct or pursue an opportunity).
MiniGames will have a specific goal that is linked to daily improvements. These are the key to success over time! The MiniGame will help employees get used to setting goals and taking action to reach them.
Why would an employee want to contribute towards achieving that goal? MiniGames can generate funds and self-fund prizes if the goal is met. MiniGames are a fantastic way to focus on those little, daily wins that bring the business closer to the big one.
Structuring A Bonus Plan Or Incentive Program
The majority of employee bonus programs are disappointing for business owners. They don’t inspire, are not appreciated, and quickly turn into entitlements. Employees are disappointed because their bonus plans are unpredictable, a mystery, and never enough.
- Our Business Coaches can assist you in creating a bonus program that is tailored to your business!
- Imagine an employee-funded program that rewards them and recognizes their efforts. Our bonus plans pay out in stages to avoid giving out too much cash too early. Your company may have an excellent first quarter but a terrible second.
- The coaches will help you create a customized bonus plan that ensures the company does not pay out any money they don’t possess. The coaches will help you set up a bonus forecasting system.
- The company can then determine the level of bonuses employees have earned and share this information with them.
- Employees who generate more revenue will receive a more significant bonus. Employees know what to expect and no longer feel entitled to compensation—no more surprises.
Create Scoreboards to Regularly Monitor Progress against Targets
Coaches will guide your team to create scoreboards that reflect the success or failure of your business. It is like tracking KPIs but goes a step further.
Companies that focus on KPIs alone can miss larger goals.
Can you be successful and run out of money at the same time? Can you achieve quality and lose customers?
Quality scoreboards can help you balance your business in all areas.
What do people say about Business Coaching?
The most significant benefit of having a coach is how fast their business sees results. The company no longer faced bottlenecks that impeded progress, as they now had a coach dedicated to pushing them forward and helping the team achieve their objectives.