Author Jim Collins best describes organizational effectiveness as having the right people in the right seats. To implement this principle, leaders should create an accountability chart that maps key functions of your organization. At the fundamental level, there are five key roles. Gino Wickman, the author of Traction, describes these roles as: Visionary, Integrator, Sales/Marketing, Operations and Finance/Administration.
In early-stage companies, a person may fill multiple roles within the accountability chart. As the company grows, it is important to delegate roles and elevate the impact people can have on the company’s performance. If a person is micromanaging another employee, this creates more work and is inefficient. Micromanagement is often caused by not letting go, lack of system, structure or accountability, or not having the right person in the right seat.
After you create your accountability chart, the next step is to develop the “future state” chart. This chart should reflect what your organization will need to look like to achieve your vision in three to five years. The open seats in your future-state chart will help you understand where you will need to develop employees or recruit new talent. In some cases, you may find you need to add additional functions to your future-state chart such as customer service, human resources and information technology.
When company ownership involves more than one person, the owners should view themselves as “stock holders” in the company and create the accountability chart as if they were the Board of Directors.
One word of caution to consider when developing your accountability chart: avoid titles such as director, vice president and the like. Titles may be important when it comes to customers and suppliers, but titles often create unhealthy politics inside organizations.
Cornerstone Business Advisors provides access to experts in business strategy, management, process and finance. The Cornerstone team includes former C-Level executives, successful entrepreneurs and advisors who offer unmatched experience in delivering advanced, custom-tailored, results-oriented solutions for business leaders. Cornerstone has worked with hundreds of companies that range from fast-growth start-ups to Fortune 500 corporations. It developed the Performance Culture System™ to help clients implement best practices and drive high performance throughout their organization. For more information, visit www.launchgrowexit.com, call 910-681-1420, or email [email protected].
Cece Nunn and Christina Haley O'Neal - May 29, 2020
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