by Elizabeth Hines | Jul 31, 2014 | Blog, Data/Analytics, Strategy, Supply Chain
Want to have a better-run business? Define clear metrics and use them as a launch pad to move your organization forward.
Metrics enable you to operate more effectively and efficiently because they provide you with valuable information on how you can drive improvement and how you can apply resources (people, time, money) to the activities and programs that will get you to where you need to go.
Critical metrics for effective business are ones that focus on the strategic goals of your organization. Here are five metrics every business can benefit from using:
Financial metrics
Make sure you have, at the very least, a quarterly plan in place. A yearly plan is ideal, but a quarterly plan is a good starting point. Track against your plan. Looking at financials in aggregate is not a helpful exercise. Rather, look at your financials on a granular level.
Business metrics
Determine what makes your customers happy and what enables your organization. Track these. Soon, you will know what you should do more of and what should be cut back.
Customer metrics
Determine the who, what, when, and why of your customers. Knowing what matters to them will help you understand how to serve them better.
Vendor metrics
Determine the who, what, when, and why of your vendors. Relationship management and partnering can only be built on a strong foundation.
Quality metrics
When it comes to quality it is important to look at anything and everything. That is, the quality of your products, the quality of your relationships with your clients, the quality of work your employees produce… Start tracking all of this.
Track the data
Develop tracking methods for each of these five metrics. Archive the data. Learn by studying the results on a regular basis. You’ll start understanding how to drive the direction of your organization. You’ll develop a focus for your organization and your performance. You’ll be able to make better decisions and drive performance.
Although most (if not all) of the material will be used internally, you should make sure that it is “external facing ready.” What you are creating is a database that you can query when you need it. In the end, you’ll have, at your fingertips, a decision database to run a better business.
by Fronetics | Jul 22, 2014 | Blog, Supply Chain, Talent
Hiring the wrong person is a costly mistake not only financially, but also in terms of team morale and productivity. Making the right hire is crucial.
Research conducted by the PewResearch Internet Project found that in 2013 73 percent of online adults used a social networking site of some kind. The percentage is even higher for job seekers – 89 percent. Given the high prevalence of use, it is likely that your talent pool is on at least one social networking site. Hiring managers and HR professionals within the supply chain industry should use this reality to hire great supply chain talent.
Social media is increasingly being used by hiring managers and HR professionals in their hiring process. More than one third of employers use social media in their hiring practices, here’s why you should follow suit.
A study conducted by CareerBuilder.com found that 65 percent of employers who use social media to screen candidates do so to see how the candidate presents themselves professionally. Fifty-one percent of employers used social media to see if the candidate would be a good match for the company’s culture, and 45 percent reported that they used social media to further research the candidate’s qualifications.
Of those employers who use social media in their hiring process, 34 percent reported that they found content that resulted in them not hiring a candidate. Close to 50 percent of reported that they did not hire a candidate because of inappropriate material in their profile, and 45 reported they did not make the hire because of indications of drinking and/or drug abuse. Other negatives found by the employer were poor communication skills, criticizing former employers, and making prejudicial comments.
A candidate’s social media profile and use can also provide employers with information that can push a candidate to the top of the list. Approximately 29 percent of employers reported that they hired a candidate because their social media profile supported professional qualifications and/or contained a great reference about the candidate. Additionally, employers reported that they hired a candidate because their social media profile showed that the candidate was creative, well-rounded, or had great communication skills.
One thing to keep in mind – all information found online and via social media needs to be treated in the same manner as information found via traditional sources. All hiring practices must abide by state and federal laws relating to fair and equal hiring.
Social media is a great tool that can assist hiring managers and HR professionals hire great talent.
by Fronetics | Jul 22, 2014 | Blog, Supply Chain, Talent
Hiring the wrong person is a costly mistake not only financially, but also in terms of team morale and productivity. Making the right hire is crucial.
Research conducted by the PewResearch Internet Project found that in 2013 73 percent of online adults used a social networking site of some kind. The percentage is even higher for job seekers – 89 percent. Given the high prevalence of use, it is likely that your talent pool is on at least one social networking site. Hiring managers and HR professionals within the supply chain industry should use this reality to hire great supply chain talent.
Social media is increasingly being used by hiring managers and HR professionals in their hiring process. More than one third of employers use social media in their hiring practices, here’s why you should follow suit.
A study conducted by CareerBuilder.com found that 65 percent of employers who use social media to screen candidates do so to see how the candidate presents themselves professionally. Fifty-one percent of employers used social media to see if the candidate would be a good match for the company’s culture, and 45 percent reported that they used social media to further research the candidate’s qualifications.
Of those employers who use social media in their hiring process, 34 percent reported that they found content that resulted in them not hiring a candidate. Close to 50 percent of reported that they did not hire a candidate because of inappropriate material in their profile, and 45 reported they did not make the hire because of indications of drinking and/or drug abuse. Other negatives found by the employer were poor communication skills, criticizing former employers, and making prejudicial comments.
A candidate’s social media profile and use can also provide employers with information that can push a candidate to the top of the list. Approximately 29 percent of employers reported that they hired a candidate because their social media profile supported professional qualifications and/or contained a great reference about the candidate. Additionally, employers reported that they hired a candidate because their social media profile showed that the candidate was creative, well-rounded, or had great communication skills.
One thing to keep in mind – all information found online and via social media needs to be treated in the same manner as information found via traditional sources. All hiring practices must abide by state and federal laws relating to fair and equal hiring.
Social media is a great tool that can assist hiring managers and HR professionals hire great talent.
by Fronetics | Jul 17, 2014 | Blog, Leadership, Supply Chain, Talent
Because great talent doesn’t look like Waldo, here is how to spot great great supply chain talent.
Wouldn’t it be nice if great talent looked like Waldo?
If great talent looked like Waldo we could simply look at the pool of candidates and be able to identify them by their telltale red and white striped shirt.
Unfortunately, great talent doesn’t show itself like our friend Waldo. Given this, how can the supply chain industry spot great talent?
Smart companies realize that it is not the skills the candidate possesses today, but rather the candidate’s personality. This may seem counterintuitive, but consider this – skills can be taught, personality cannot.
Here are five traits that great employees share. When making your next hire look for candidates who possess these traits.
Smart – Smart doesn’t necessarily mean a high IQ. Rather it means having good judgment, being quick to comprehend, and having the faculty of reasoning and understanding.
Ambitious – Ambition drives innovation and productivity. An ambitious individual has high expectations for themselves and for their career. Their drive to succeed will positively impact your company.
Honest – Integrity is everything.
Gracious – A person who is able to admit failure, thank others, and able give credit where it is due will prove to be an indispensable member of your team.
Exceptional communication skills – Communication is the basis of success.
In addition to looking for these traits, also consider whether or not the individual is a good match with your company’s culture.
You can’t train personality
In the end, it is important to remember that you can train an individual to perform the tasks needed for the job, but you can’t change (or train) personality. Be flexible when it comes to specific job requirements, but be rigid when it comes to personality traits.
by Fronetics | Jul 17, 2014 | Blog, Leadership, Supply Chain, Talent
Because great talent doesn’t look like Waldo, here is how to spot great great supply chain talent.
Wouldn’t it be nice if great talent looked like Waldo?
If great talent looked like Waldo we could simply look at the pool of candidates and be able to identify them by their telltale red and white striped shirt.
Unfortunately, great talent doesn’t show itself like our friend Waldo. Given this, how can the supply chain industry spot great talent?
Smart companies realize that it is not the skills the candidate possesses today, but rather the candidate’s personality. This may seem counterintuitive, but consider this – skills can be taught, personality cannot.
Here are five traits that great employees share. When making your next hire look for candidates who possess these traits.
Smart – Smart doesn’t necessarily mean a high IQ. Rather it means having good judgment, being quick to comprehend, and having the faculty of reasoning and understanding.
Ambitious – Ambition drives innovation and productivity. An ambitious individual has high expectations for themselves and for their career. Their drive to succeed will positively impact your company.
Honest – Integrity is everything.
Gracious – A person who is able to admit failure, thank others, and able give credit where it is due will prove to be an indispensable member of your team.
Exceptional communication skills – Communication is the basis of success.
In addition to looking for these traits, also consider whether or not the individual is a good match with your company’s culture.
You can’t train personality
In the end, it is important to remember that you can train an individual to perform the tasks needed for the job, but you can’t change (or train) personality. Be flexible when it comes to specific job requirements, but be rigid when it comes to personality traits.
