When Business Leaders
Confess That They Don’t Know What They Don’t Know
I have avoided yoga class for a few months because I was intimidated by the fact that most of the participants twist and turn like the performers in Cirque du Soleil®. This morning I decided I would break through my barrier of feeling intimidated and attend the class. As I drove to class, I realized one of the reasons I was willing to step outside of my comfort zone TODAY was because I had attended previous classes with this specific teacher. Alyson Foreacre is the owner of Yoga Den, where I attend. She is an amazing teacher who I trusted to lead me through my own practice of yoga. If all I did was stay in one yoga pose and breath, she would probably encourage me to do more in a very respectful and empathetic way.
My journey with yoga can be compared to how business leaders
feel about financial information. In my years of practice, I have learned that
they are intimidated by financial reports. They are fearful of asking questions,
they don’t want to sound ignorant. Feeling intimidated by yoga class and by
financial information is similar, as in both cases we are keeping ourselves
from something that can be helpful in our overall lives.
My feelings of intimidation with yoga were primarily tied to fear of not keeping up with the class and not knowing how to do all the moves. I didn’t know what I didn’t know about how yoga class is a practice, not a directive. I was so right when I told myself “I got this” with Alyson’s assistance. She is an encouraging teacher who provides alternatives if she knows you need them. She also lovingly encourages you when you need a little guidance. Today she even laid on the floor beside me to show me how to do a certain move. She validated my confidence in her ability to get me through the difficult moves.
I often meet with entrepreneurial business owners, nonprofit
leaders or business professionals in corporations to discuss their pain points.
The most frequent statement I hear during those discussions are “I don’t know
what I don’t know.” I have to admit that,
it wasn’t until I was attacked by the anxiety of doing the right kind of
Downward-Facing Dog and other yoga moves, that I truly have the proper level of
empathy for this statement. I also realized that I should feel honored that my
clients trust in me to share their own fears of financial information.
Being responsible for an entire organization, or even just a section of one, without understanding the financial implications can be frightening. It takes a lot of courage to push through your uncomfortable zone, to accept some uncomfortable space for some time until you understand. Just like my sore muscles right now are telling me it will take a few times before that class feels good. But I know that if I dare to go again and I struggle, Alyson will be there for me.
Is it possible that you don’t know what you don’t know? If you struggle with the following internal dialog, the answer is probably “Yes”:
I do not receive financial statements each month
timely and I do not understand why.
Cash is very tight, and I am not sure we have
enough money to pay the bills and make payroll for the next month or two. I am not sure how to address this.
The new revenue recognition guidance is
required, and I do not know where to begin with implementation.
The organization needs to raise capital and I do
not know what the right type of investor is for our organization.
The corporation needs to divest of a subsidiary
or a line of business and I am not sure how to make that work. What are the
I know we need better systems and process to
improve the customer experience but I do not know where to begin or have the
time to ask various vendors what their system does, or even understand the full
capabilities of our current system.
Barker Associates can help you work through these anxieties and guide you through the process. We are direct communicators who will share with you the reality of the situation, even it is not what you want to hear. Recalling my sore yoga muscles, I will be empathetic to your journey of not knowing what you do not know. Give me a chance to let my experience work for you. https://mindybarkerassociates.com/contact/
If you don’t know where you are going any road will get you there. – Lewis Carroll
Customer experience (CX)
has been a hot topic for the last several years.
Companies have invested in teams to analyze data, customer service issues,
survey results, and they’ve utilized sophisticated tools such as the Net
Promoter Score (NPS) to understand how likely the customer is to share their
experience and promote the company.
Companies have increased
their budgets and resources to understand the habits, needs and desires of customers to create the perfect
journey and ultimate experience for those they serve but, despite all their
efforts, some companies are still falling short, which means lost revenue,
customer churn, and retention issues with their employees.
CX is the sum of all
interactions. According to a 2018 survey by Gartner, nearly 90% of businesses
compete on customer experience alone. Whether your company is transactional or
subscription-based the competition is fierce and if you want to attract, retain
and grow your customer base you have to lead with the end in mind and design
the ultimate experience.
Employee Experience EX
The exclusive focus on the
customer alone has not resulted in the business outcomes companies desire. Perhaps
the focus should be on something a little closer to home…the Employee Experience (EX). After all,
without employees you can’t serve customers, so maybe the old adage “customer
first” should take a back seat for organizations that truly desire to be
transformative in the market place.
Social media and platforms
like Glassdoor and Indeed have created complete transparency so that organizations
can no longer hide from the real-time employee workplace reviews. In this
competitive market, where skilled talent can be scarce,
companies cannot ignore the need to make the Employee Experience a priority.
Like CX, EX is the sum of every day to day
interaction the employee has from the first contact to last. It’s every
touchpoint they have with recruiters, HR, their boss and peers, the software
they use, the processes they must follow; each touchpoint is specific and
The Employee Experience is
a full spectrum of all their experiences and
a well-designed EX should empower employees with the tools and know-how to
serve customers successfully, provide employees control over their professional
growth and development, and create an atmosphere for positive and healthy
collaboration in a well-designed workplace. When EX strategy is developed and correctly
implemented the end result will be happy employees with a commitment to the
company and their job.
According to a 2016 report
by Deloitte University
Press, organizational culture and employee engagement was a top
priority in 2017 and is still a top focus. The report noted that nearly 80% of
executives rated employee experience very important or important, yet only 22%
felt that their companies were excellent at building a differentiated employee
experience. Of those same responders, more than half were either not ready or
only somewhat ready to address the challenge.
In lieu of a true
strategy that focuses on understanding and implementing modern actionable solutions
to promote a positive EX, employers are using perks like casual Friday, free
ice cream and an occasional “bring your pet to work day” to solve the problem. Companies
use these perks in an attempt to build a great culture without any actual
thought to what creates a great culture.
Jacob Morgan, the author of
The Employee Experience Advantage, analyzed over 252 global organizations to
understand the attributes that promote EX and drive employee engagement. The
top 3 companies that excel in this area are no surprise: Facebook, Google, and
Apple. We’ve all heard about some of the amazing perks these companies offer, but according to Morgan, leadership in these
organizations has focused on the bigger picture to yield positive results. They
focused in areas that really matter to
employees: culture, technology, and physical space.
Culture is a nebulous word and people define culture in a variety of ways. Morgan describes culture as a side effect of
working for an organization. Are your employees frustrated and burnt out? Do
they have a voice and an opportunity to present ideas or provide feedback
without fear of backlash? Is there role clarity and a clearly defined path for
growth? If you’ve heard negative chatter,
you likely have a culture problem impacting the EX, which will ultimately
impact the engagement level of your employees and your customers.
Employees should have
access to technology that supports their function. Technology should be a help
not a hindrance to employees. They should be able to work successfully and with
ease with the help of technology, but sadly, many companies have convoluted
systems that don’t sync, resulting in
errors, rework and duplication, all of which are time-consuming, costly and put
not only the employee experience at risk but your company as well. Leaders who
fail to stay current with new technology and upgrade the employee experience
through exposure to more advanced technology risk losing those employees to
companies who do make such investments.
Lastly, a great employee
experience is dependent upon the physical space in which employees work. Is
your office well lit, clean, free of clutter? Do you participate in initiatives
that support a healthy workplace? Are employees situated in an environment that
supports their tasks? For instance, if call centers are placed next to
employees who must utilize quiet focus to get their job done, then you likely are going to have some unhappy and frustrated
Companies that invest in
the development of a focused EX have seen improved results with attracting and
retaining skilled employees who are passionate about the company and the brand,
and play an active role in the ongoing success of the organization. Employees
want and expect to develop their skills as the company grows and adapts to
market demands. Maintaining stale, obsolete skills is the ultimate morale
Although developing a
focused strategy has not been a priority to organizations, of the 252 global
organizations analyzed by Jacob Morgan, only 15 companies, or 6%, have created
a winning employee experience; companies that don’t focus their strategy are at
risk for both employee and customer churn.
Focusing on long term
solutions means taking the time to engage employees to understand their needs,
wants and expectations and work to align tactics with developing a winning experience.
In the end, you get happy, productive employees who bring tremendous value and
drive positive business outcomes.
Are your business outcomes
meeting your expectations?
Where is your focus, the CX
or the EX?
Have you invested in your
Employee Experience or paid it lip service?
Barker Associates will help you review and understand opportunities to enhance your Employee Experience – the work environment, use of technology and company culture. Together we can design and implement employee experience solutions that yield happy employees and positive results. Contact us today at (904) 394-2913 or by email at here.