What the heck is ROIR?

Return on Investment in Relationships of course!

Tom Peters encourages managers to obsess on R.O.I.R – the Return on Investment in Relationships.

Usually what has to be invested is not cash – but time. And the challenge is to invest that time effectively.

For me, without doubt, the most effective tool for ROIR with employees is the 121. These are structured, documented 30 minute meetings held with each member of staff, every week. They provide the most effective ROIR with employees that I know.

ROIR through 121s comes in many forms:

  1. increased staff retention
  2. improved productivity
  3. recognition and acknowledgement of progress
  4. appreciation of those who are performing well
  5. identification of under performance and early resolution
  6. promotion of behaviours that reinforce strategic goals and values
  7. increased pace of coaching to develop potential and performance
  8. deeper professional relationships
  9. increased trust
  10. increased influence
  11. increased responsiveness
  12. better support of team members in their work
  13. conduit for ideas from the front line to be heard and acted upon
  14. management support for every member of the team – every week
  15. improved communication and focus on what matters
  16. progress made and recognised on a weekly basis
  17. increased sense of urgency in the team
  18. encourage individuals to think through their contribution to team or organisational objectives
  19. increased initiative and enterprise
  20. planning remains flexible and dynamic
  21. documentation makes performance reviews simpler and less contentious
  22. barriers to high performance are removed
  23. factors contributing to poor performance are identified and resolved
  24. formal opportunities for delegation are created
  25. more feedback – both given and received
  26. increased employee engagement
  27. improved knowledge management and knowledge sharing
  28. better talent management and development
  29. increased creativity
  30. more innovation
  31. more responsibility taken voluntarily by more people
  32. reduced absenteeism
  33. more diversity as 121s recognise that ‘one size fits one’

Perhaps some of these are things that you as a manager need to work on. If you are already using 121s then think how you can use them more effectively for the things that matter most to you and your business.  You can find out more about 121s here.

If you are not already using 121s then you have a tremendous opportunity to improve your management practice.

Additions to the list are very welcome!

The Secret Formula for Outstanding Management

The good news is that it is not that difficult to be an outstanding manager. You just have to master 5 relatively simple skill sets, and have a system that means you use them consistently.  We will talk about the system some other time.  For now let’s consider the 5 simple skill sets that get you well on the way being an outstanding manager – and that (not so) secret formula:

OM = GWR (GGGF + BBC + MED + TPM)

Where:

OM = Outstanding Management

GWR = Great Working Relationships

GGF = Giving and Getting Great Feedback

BBC = Being a Brilliant Coach

MED = Maximum Effective Delegation

TPM = Time and Priority Management

On a scale of 1-10 how do you rate your ability (and success) in developing Great Working Relationships?  How many working relationships do you have that don’t work so well?  What are you doing to improve them?  What could you do, in the next few days, that would increase your own score by 1?

On a scale of 1-10 how do you rate your ability in Getting and Giving Great Feedback?  Do you give and get feedback on daily basis?  Do people respond to it? Or are you wasting you breath?  Do you respond to feedback?  What was the last piece of feedback that changed your behaviour? What could you do, in the next few days, that would increase your own score by 1?

On a scale of 1-10 how do you rate your ability in Being a Brilliant Coach?  Do you coach every member of your team, every week to improve their performance in critical areas?  Or do you leave it to the annual performance review? What could you do, in the next few days, that would increase your own score by 1?

On a scale of 1-10 how do you rate your ability in Maximum Effective Delegation?  Do you have a scheme of delegation and a bomb proof process for making delegations that work?  Or do you just think it is quicker and easier to do it yourself? What could you do, in the next few days, that would increase your own score by 1?

On a scale of 1-10 how do you rate your ability in Time and Priority Management?  Do you get all of your work done in your contracted hours?  Or do yo work additional hours for free?  Do you spend most of your time on the most important, highest return areas?  Or do you spend a lot of time working for little apparent return? What could you do, in the next few days, that would increase your own score by 1?

So, how did you score?

If you are interested in scoring better and would like further resources to help please do take a moment to sign up using the box on the right.

Your comments too are always welcome!

Thanks

Mike Chitty