Welcome Chief Executive Boards International Webcast The Art
Welcome Chief Executive Boards International Webcast The Art of Delegation At Chief Executive Boards we deliver all this, and more.
Your Host: Kevin Minton Owner & CEO - Chief Executive Boards International Headquarters: Greenville, South Carolina Local and National Executive Peer Advisory Boards www. Chief. Executive. Boards. com
CEO Peer Advisory & Coaching Knowledge, Experience & Insight
Announcing 2019 President’s Circle Webinars √ Foolproof Decision Making √ Flawless Execution √Art of Delegation 7 Magic Sales Questions 6 Principles of Persuasion Increase Your Revenue via the Web January 17 March 11 April 18 June 13 July 18 September 19 Sign up on the CEBI website! Culture By Design
• • • Grew a firm from $17 to $650 million in 4 years Managed 30 sales locations with over 300 reps Certified in Principles of Persuasion Gazelles Intl Rockefeller Habits Coach Worked with over 400 companies Generated over $1 billion in new business Written hundreds of articles, white papers, marketing campaigns, sales scripts Developed and implemented over 200 business development strategies Produced dozens of business development training modules David is a success expert David Rippe, CEO Celestia International Culture By Design
THE ART OF DELEGATION
Do you have too much work and not enough time? Does your business regularly miss deadlines? Would you like to work less while generating more revenue?
To be a great leader … … to grow your company … you have to learn to delegate
“ The inability to delegate is one of the biggest problems with managers at all levels. ” ~ Eli Broad, American entrepreneur, billionaire
Delegation and the Productivity Imperative • The average person today works at 50% capacity • Managers need to tap in and motivate the other 50% • The job of a manager is to develop people • Delegation is about bringing out the best in others
What is Delegation? To assign the responsibility for doing something, such as a task or project, to another individual. Efficient entrepreneurs, business owners, and managers delegate because it allows them to focus on more impactful tasks that require their full attention.
Why is delegation important? • Promotes development and enhancement of individuals • Increases loyalty, reduces turnover • Allows more work to get done faster • Decreases delays • Increases motivation and job satisfaction • Stimulates creativity • Creates a positive business culture
Delegation is hard for many managers • It’s hard to let go (micro management) • Lack of trust in those around you • “It’s easier just to do it myself” • The White Knight syndrome
How to Delegate the Right Tasks to the Right People ① Think through the job. Decide what is to be done. What result do you want? ② Set performance standards—what does success look like ③ Determine a schedule with milestones and deadlines
7 Steps in Learning How to Delegate ① Pick the right person ② Match the requirements of the job to the abilities of the person ③ Delegate effectively to the right person ④ Delegate smaller tasks to newer staff to build their confidence and competence ⑤ Delegate the entire job ⑥ Delegate clear outcomes ⑦ Delegate with participation and discussion Be clear about time, money, and resources they have to complete the work.
When Should You Delegate Tasks? For delegated tasks to be effective, first consider these questions: ① Who can do this job instead of you? ② Who can do this job better than you? ③ Who can do this job at a lower cost than you? ④ Can this activity be eliminated altogether?
Calculating Your Value Per Dollar • Your annual salary • Add benefits + 25% • Multiply x 2 for overhead • Divide by 2080 hours/year • = your hourly cost/value • Example: $100, 000 salary is $120/hr
1 Match the Person to the Job • The only accurate predictor of future performance is past performance • Never delegate an important task to a person who has not performed that task satisfactorily in the past • It’s unfair to expect a person who has not done a job before to perform at a sufficient level of quality when they are given the job for the first time 2 Agree on what is to be Done • Discuss the job with that person and agree upon what must be done • The more time you take to discuss achieve clarity, the faster the job will be done once the person starts on it
3 Explain How the Job Should Be Done • Explain your preferred approach or method of working • Explain how you would like to see the job done • Explain how you or someone else has done it successfully in the past. 4 Ask Him/Her to Feed It Back • Ask the person to feed your instructions back in his or her own words • Explain to you what you have just explained and agreed upon. • It’s the only way that you can be sure that the other person actually understands the job or assignment
5 Set a Deadline • Set a deadline and a schedule for completion of the task • At the same time, arrange for regular reporting • Invite feedback and questions if there any delays or problems 6 Manage by Exception • Manage by exception whenever possible. • It’s a powerful time management tool to work more efficiently with other people • If the job is on track, and on schedule, managing by exception means that the person does not have to report back to you • If you don’t hear from him, you can assume that everything is going well • The individual only has to report back to you when an exception occurs and there is a problem with getting the job done on time, to the agreed upon level of quality.
Team Tool—Who-What-When • Holds people and teams accountable for tasks • Used in all management and planning meetings • Tasks are stated aloud by each participant • Reviewed to start of the next meeting of same team
Management Reporting Tool for Individuals — Weekly 5 -15 • Prepared by direct reports by EOD Friday • Take 15 minutes to document • Top 5 accomplishments this week • Top 5 priorities this week • Any challenges or roadblocks • Reviewed by direct manager + select senior execs (based on preference)
THANK YOU FOR YOUR TIME Any questions?
- Slides: 23
