The first quarter of 2020 flew by. Take a moment to pause and reflect. At the start of 2020, what goals were set for your organization and team? With the passing of 25% of the year, now is the time for construction executives to stop and consider what measures are in place to ensure success in 2020.
Much of the success of an organization is due to its human capital. Leaders benefit from understanding the notion that an organization is only as strong as its team. And, to grow an organization, construction executives must invest in and grow the individuals in their organization. This sentiment is critical when considering goal achievement as well.
Here are four crucial questions for a construction executive to explore when preparing their team for success in 2020.
1. What level of awareness does your team have regarding the 2020 goals?
Too often, annual goals for the organization are created in a vacuum located in the organization’s board room. Entering into the second quarter of the year:
- Are you confident that 100% of the team is aware of the 2020 goals?
- Are you confident that 100% of the team is aware of their specific role in helping the organization achieve those goals?
- Are you confident that 100% of the team knows where to direct questions they have regarding the goals?
These may seem like basic questions-but the critical part is “100% of the team.” Business owners should take a moment to reflect on the team, even poll a few other leaders in the organization. What percentage of the team is aware of the 2020 goals? Now, spend time ideating ways to move that percentage toward 100. As construction businesses seek to thrive in their respective markets, having 100% of the team onboard with and working toward the goals is foundational for success in 2020.
2. Which KPIs are in place to monitor goal progress for the team?
Key performance indicators (KPI) are helpful for all members on a team. KPIs serve as metrics that allow team members to monitor and track the progress made. However, it is essential to remember that though KPIs are a critical piece of information for the organization’s leadership, it is only one piece of the puzzle. Leadership decisions that are based strictly on a single data point or suite of data points without consideration for the context and influences that shape a particular environment are not well-rounded.
But, KPIs do serve as a method for quantifying goal progress. Construction company owners should work with their team to identify KPIs that are relevant and important to the 2020 goals and then monitor those KPIs.
3. What strategic resources are available to help the team achieve the 2020 goals?
Resourcing may seem a bit granular, but it’s a topic that should not be overlooked by executives. If leaders do not equip their team with the proper strategic resourcing—physical, digital and cultural—engagement and productivity are hindered. Some view resourcing with dread because there is an immediate association with dollar signs—a financial commitment. Leaders benefit from viewing the financial investment associated with strategic resources as an investment that will provide future returns.
- Create a spreadsheet with the monetary needs to fund those resources.
- Gather the data on the team’s current KPIs (per question 2).
- Play with the calculations; if the resourcing (maybe upgraded software or new machines) is projected to improve a KPI by 10% to 20% in the next six months, is the initial financial investment for the resource really a burden?
By arming the team with resources, a construction executive enables the team to better achieve the 2020 goals.
4. What professional development opportunities are available to team members working toward the 2020 goals?
Companies, teams and individuals have the potential to grow and develop over time. In light of the 2020 goals, consider the growth and development that may help the organization achieve success. Professional development opportunities are vast and far-ranging. Ideas include:
- cross-training;
- business coaching;
- mentoring programs;
- leadership labs;
- seminars;
- workshops; and
- action learning projects.
There are many factors involved in identifying professional development opportunities for a team or organization. Factors include context, team size, team location, budget, goals and sector. A construction executive may benefit from working with an external consultant to prepare the proper professional development opportunity to positively impact a team’s ability to meet the 2020 goals.
Like strategic resourcing, professional development opportunities are another avenue for executives to engage their team in achieving the 2020 goals.
