Teamsourcing: The Secret Sauce for Successful Strategic Execution
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The document discusses the importance of teamsourcing, which is harnessing the collective power of employees within an organization, to successfully plan, execute, and adapt strategies. It provides a 4-step process for teamsourcing: 1) formulate strategy by leveraging employee insights, 2) ensure implementation by following up with employees to identify pain points, 3) identify solutions by working with employees, and 4) implement solutions and make course corrections by getting regular employee feedback to continuously refine the strategy. Case studies are presented on how companies have used teamsourcing to improve areas like CRM adoption, employee training, and strategic execution.
Teamsourcing: The Secret Sauce for Successful Strategic Execution
- 2. A PROBLEM OF GAPS! Strategy is formulated here Strategy is executed here Communication Gap Leadership Middle Management Employees A gap in communication exists between those who formulate strategy and those who execute it.
- 3. Bridging this communication gap is one of the key factors determining the success of any strategic execution.
- 4. THE RECIPE FOR SUCCESSFUL STRATEGIC EXECUTION Formulate Strategy : Leverage insights from employees Ensure Implementation: Follow up with employees to find pain points to strategy implementation Identify Solutions: Work with employees to find solutions Course Correction: Implement solutions to get the strategy right Leveraging stakeholder insights to better identify problems with the developing strategy is the secret sauce of successful strategic execution. 1 2 3 4
- 5. The secret recipe for Successful Strategy Execution sounds an awful lot like crowdsourcing, doesn’t it?... …we say the real secret is not crowdsourcing, but TEAMSOURCING!
- 6. WHAT IS TEAMSOURCING? Crowdsourcing = Harnessing the collective power of outsiders Thanks to technological advancements and flatter organizations, teams and employees are now more connected than ever! Thus, employees of an organization can collectively contribute – whether with ideas, time, expertise or funds – to a project or cause. Teamsourcing = Harnessing the collective power of insiders! TEAMSOURCING lets you leverage your business’ grey matter – your employees – in order to capture unique and actionable insights from them!
- 7. How can we better use the secret sauce of TEAMSOURCING to successfully plan, execute, and adapt an organization’s strategies?
- 8. LEVERAGE INSIGHTS FROM EMPLOYEES STEP 1: FORMULATE STRATEGY
- 9. 1 2 3 4 Analyze Past Performance: Critically evaluate the organization’s past performance, present condition, and desired future performance to identify gaps. Evaluate the Organizational Environment: Examine both internal and external factors affecting the organization’s performance. Set Objectives: Define the long term objectives to be achieved through the strategy. Analyze factors that influence the selection of objectives. Set Measurable Targets: Fix quantitative target values for as many objectives as possible. STRATEGY FORMULATION PROCESS Employ teamsourcing every step of the way!
- 10. FOLLOW UP WITH EMPLOYEES TO FIND PAIN POINTS STEP 2: ENSURE IMPLEMENTATION
- 11. Failing to involve those responsible for execution in the planning process threatens: Level of employee engagement Organizational learning Commitment to desirable outcomes The entire implementation process
- 12. Once the actual ‘doers’ are involved in creating the strategy, it is important to follow up with them to understand challenges hindering strategy implementation. Overcoming these challenges ensures smooth execution of set plans. Teamsourcing leverages the collective knowledge and day-to-day experiences of an organization’s employees to understand common concerns and challenges. A Win-Win Situation Organization identifies weaker areas of strategy implementation. Employees get the opportunity to voice their concerns. TEAMSOURCE TO ALIGN WITH THE REAL PICTURE!
- 13. A Fortune 200 Retailer used teamsourcing to understand how user behavior can drive down the value of CRM. The chart, drawn from real teamsourced data, reveals how users from sales teams with lower proficiency in CRM see the tool as more cumbersome and unreliable. CASE STUDY: COMPANY IDENTIFIES REASONS FOR LOW CRM ADOPTION Average Score Highly Proficient CRM Users Above Average-Proficiency CRM Users Average-Proficiency CRM Users Non-Proficient CRM Users
- 14. WORK WITH EMPLOYEES TO SUGGEST SOLUTIONS STEP 3: IDENTIFY SOLUTIONS
- 15. “The interplay between crowd and organization is crucial for crowdsourcing because it ensures a mutually beneficial outcome that probably could not have existed without the cocreative efforts of both parties.” – Crowdsourcing by Daren C. Brabham Teamsourcing provides benefits of scale and diversity, often resulting in solutions that surpass the quality of those reached in a board room. TEAMSOURCING TO IDENTIFY SOLUTIONS
- 16. THE TEAMSOURCING PROCESS OF PROBLEM SOLVING 1 2 3 4 5 6 7 8 Company has challenge(s) or pain points to address Company broadcasts its challenge(s) Team members are asked to share their insights Team(s) share their insights Teamsourcing platform analyzes this information Company acts on helpful insights Company owns winning solution Company benefits!
- 17. A company used teamsourcing to identify improvement areas in employee training. By using teamsourcing, the company: • Determined key training gaps in transformation projects • Identified how vision and strategy could be better communicated • Gained insight from managers on how to leverage Lean Six Sigma training and accelerate certification of trainees • Identified key areas in which employees needed more training • Assessed the level of difficulty for attaining certification CASE STUDY: COMPANY IDENTIFIES SOLUTIONS TO IMPROVE TRAINING
- 18. IMPLEMENT SOLUTIONS AND GET THE STRATEGY RIGHT STEP 4: COURSE CORRECTION
- 19. ARE PLANNED SOLUTIONS QUICKLY PUT TO ACTION? Employees at three out of every five companies indicated their organization was weak at execution When asked if they agreed with the statement, “Important strategic and operational decisions are quickly translated into action,” the majority answered, “no.” It is important to convert this “NO” into a “YES” for successful strategy execution
- 20. UNDERSTAND EMPLOYEES TO MANAGE CHANGE Implementing solutions often involves change Teamsourcing provides the unique and nuanced data that allows you to understand employees not just as groups and clusters, but also individuals. Tap into the sources of their passion: • Information they have • Own self-interest • The “reality” of their perspective
- 21. FORMULATE STRATEGY ENSURE IMPLEMENTATION IDENTIFY SOLUTIONS ENSURE COURSE CORRECTION REDEFINE STRATEGY Leverage insights from employees Follow up with employees to find pain points Work with employees to suggest solutions Implement solutions to get the strategy right Redefine strategy, if necessary, and repeat the process After course correction, repeat the process at regular intervals to successfully manage strategy execution.