Business & Economic Outlook Event 2014 - Allied Executives · Allied Executives Business & Economic Outlook Event 2014 . Chuck Palmer Regional Managing Director ... PLANNED SCORECARD

Business & Economic Outlook

Event 2014

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#AlliedExecs

Allied Executives Business & Economic Outlook Event 2014

Chuck Palmer

Regional Managing Director

Wipfli LLP


© Wipfli LLP 4

Leading a Multiple

Generation Workplace

Date or subtitle Allied Executives 2014

Annual Business Update Conference

Chuck Palmer-Regional Managing Director-Minnesota © Wipfli LLP

© Wipfli LLP

“If we don’t get the people thing right, we lose. It’s the most important thing

in all our businesses.”

– Jack Welch, Former CEO, General Electric (GE)

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Presentation Highlights

Brief walk down memory lane

What’s the big deal?

Four approaches for Multigenerational differences

Tips for leading a Multigenerational workforce

Steps to success

Other resources

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The Generations

Traditionalists (1925-1945)

Baby Boomers (1946-1964)

Generation Xers (1965-1981)

Millennials (1982-2000)

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Traditionalists (1925 – 1945)

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Baby Boomers (1946 – 1964)

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Generation Xers (1965 – 1981)

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Millennials (1981 – 1999)

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http://853519.r.msn.com/?ld=6v4_aJ7JLFHGx5aNtm8W4T-TVUCUzoh70CY8LmqGw8ESM5dpjoglFRFvGGiUn2kqwVLXuj9Gz_TMAKxBdPloo0xtHLOBbcn98NPnDZlyZSNKMV7RObhD1kvL9lVzNPqddUxm3bQw&u=http://clk.atdmt.com/CNT/go/465086929/direct/01/

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Tweeners

Tweeners

•Traditionalists/Baby Boomer (1943-1948)

•Baby Boomer/Xer (1962-1967)

•Xer/Millennial (1979-1984)

Old enough to understand concerns and issues of the

older generation, yet young enough to relate to the

younger generation.

Share common history with younger generation;

accepted by older generation as “one of them.”

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Shifting demographics will dramatically increase the

war for talent.

Smart business leaders will gain the advantages of

a multigenerational workplace.

Just like keeping good customers, it is more

effective to keep the people you have than to find

and train new employees.

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So what’s the big deal?

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The Swing: 2010 to 2020

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Workforce Demographics: 2010 & 2020*

Boomers

X’ers

Millennials

NextGen

Traditionalists

Boomers

X’ers

Millennials

*

*Projected data

© Wipfli LLP

The Case for Multiple Generations Leadership

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Four Approaches for Generational Differences

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From Sticking Points, Haydn Shaw,

Tyndale House Publishers

© Wipfli LLP

Tip 1: Understand and Plan for Generational

Workplace Dynamics

The events and conditions we experience during our

formative years determine who we are and how we

perceive everything around us, including our job.

As a result, each generation has adopted its own

“generational personality” and brings it to the

workplace.

Business leaders must understand and execute a focused plan to address, and gain the benefits of, the dynamics created by a multiple generation workforce.

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Tip 2: Establish a Multigenerational Strategy

Intentional, systematic execution of a strategy to:

Recognize, support, and utilize the inherent

differences and strengths of each generation’s

“DNA”;

Build an integrated culture, “best place to work”

environment;

Recognize the capability, and capacity, of every

employee to drive short- and long-term business

results and reach the vision of the organization.

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Tip 3: Have a Multigenerational “Umbrella” for

your People Strategies

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Multigenerational People Strategy

Ensure that effective multigenerational talent

management strategies are in place to achieve growth

and your vision/mission;

Prepare individuals for multigenerational change by

developing critical competencies;

Promote continuity of organizational culture by

acknowledging differences and strengths of each

generation

Ensure that leadership development includes

multigenerational skills

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Tip 4: “Retool” your Performance

Management System

Leverage Multigenerational strengths:

Assure that employee goals and responsibilities are

aligned closely to your organization’s overall objectives,

with multigenerational differences in mind;

Assure that your performance management system is

designed to address multigenerational differences;

Imbed specifically designed multigenerational objectives

in each “people” program or initiative;

Assure that feedback mechanisms meet the

expectations of each generation.

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Steps for Multigenerational Workforce Success

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Educate 1 Lead 2 Strategy 3 Manage 4 Execute 5

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Work the Plan

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Wash, rinse, and repeat!

This will ensure continuous and deep support from all

Workplace Generations to drive your business goals

and objectives.

Continuous

Process of

Review and

Renewal

© Wipfli LLP

Other Resources

Workplace Behavioral Solutions

Lifecourse Associates

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www.wipfli.com

John Lang

President

Messerli & Kramer P.A.


Annual Business & Economic

Outlook Event 2014

February 25, 2014

Introduction

Messerli & Kramer consists of 10 practice areas in 3

unique – yet complementary – divisions, including : Banking and Finance

Business Litigation

Corporate and General Business Law

Collections

Divorce and Family Law

Employment

Estate Planning

Government Relations

Intellectual property

Real Estate

STRATEGIC PLANNING 101

What is it?

An organization’s process of defining it’s strategy or

direction and making decisions on allocating it’s

resources to pursue this strategy

Should you do it?

Absolutely

WHY?

Current strategy – what is it

Well thought-out – sound

Appropriate

Doable

We are already successful – past tense- guarantee

of future success?

Uncertain world – the greater the uncertainty the

greater the need

WHAT IF YOU DON’T?

Leadership indifference

Confusion among the employees

Complacency of stakeholders

Short-term thinking

Lack of unity

Deeply entrenched traditional perspectives

PLANNED SCORECARD COLLABORATIVE

95% of workforce doesn’t understand its

organization's strategies

90% of organizations fail to execute strategy

successfully

86% of executive teams spend less than one hour

per month discussing strategy

60% of organizations do not link strategy to

budgeting

HOW DO WE DO IT?

Where are we now?

Where are we going?

How will we get there?

IS IT AFFORDABLE?

Can’t afford not to

Top management teams

devote 2 – 4% of their time to strategic planning

Not more to do, but doing it better

WHAT IS A GOOD PLAN?

Reflects values of the organization

Inspires action

Explains how you win

Defines criteria to achieve success

Guides decision making

Failure – OK (re-think, re-tool, re-strategize, go

forward)

PIT FALLS

Must agree at the outset it is important

Relying on bad information

Ignoring revealing information

Being unrealistic

Do not use planning as a substitute for action

Get your organization’s house in order

Copying

Do not ignore your culture

WHAT IS IN A PLAN? (continued)

Competitive Advantage

Long-Term Strategic Objectives

Strategies

Short-Term Goals/Priorities/Initiatives

Action Items/Plans

Scorecard

Financial Assessment

WHAT IS IN A PLAN?

Mission

Overarching and timeless

Vision

Organization’s near future

Values

These are organization’s guiding principles

SWOT Analysis

Tips for Better Strategic Planning (continued)

Make clear achievable action items/goals

Keep it flexible – subject to change

Always articulate next steps when completing a session

Make strategic thinking a habit

Always focus on implementation

Tips for Better Strategic Planning

Find An Expert – The Best Money Ever Spent

Select a Good Team It should consist of key leaders and managers of different areas of the

organization, people who are diverse, which could include different ages,

genders, personality types and generational types, etc.

Allow time for brainstorming and big picture thinking

Get commitment from key people

Allow open and free discussions from all

Make implementation part of all discussions

Contact Us

Locations

Minneapolis 612-672-3600

St. Paul 651-228-9757

Plymouth 763-548-7900

Milwaukee 414-847-6247

www.messerlikramer.com

http://www.messerlikramer.com

Tamara Prato

Group Publisher

Minnesota Business Magazine


Marketing Matters

Marketing Matters

• Definition of Marketing • Current Trends to Watch • How Tiger Oak is Adapting

Cartoon created by Ted Goff

Concise Definition of Marketing

mar·ket·ing The action or business of promoting and selling products or services, including market research and advertising. (Oxford Dictionary)

Like it or Not, We’re all in Sales

One in nine Americans works in sales. But so do the other eight. Whether we’re employees pitching colleagues on a new idea, entrepreneurs enticing funders to invest, or parents and teachers cajoling children to study, we spend our days trying to move others. Like it or not, we’re all in sales now.

Top Digital Strategies for 2014

• Driving Increased conversion rates

• Increasing and improving brand awareness

• Collecting, measuring and using behavior-based data

Current Digital Trends

98% of marketers plan to increase or maintain their spend in 2014 Increase in dollars will come in: • Data and analytics • Marketing automation • Email marketing • Social media marketing • Content Management

Email is Not Dead

68% of marketers stated email marketing is core to their business • Email indirectly impacts your business performance

(42%) • Email is a critical enabler of products/services your

business provides (42%) • Your business’s primary revenue source is directly

related to email operations (16%)

Responsive Design for Email

42% of companies DO NOT currently use mobile responsive design for their emails • 41% of customers read email on mobile device 30-50%

of the time • 19% of customers read email on mobile device 51-70%

of the time

The Future of Mobile

What current users of mobile marketing believe:

• 29% mobile marketing is producing ROI • 51% mobile marketing will eventually produce ROI • 16% mobile marketing is unlikely to produce ROI

How Social are You?

46% of marketers agree that social marketing is key to their business. Question is effectiveness • 36% believe social provides ROI • 52% believe social will produce ROI • 12% believe social is unlikely to produce ROI

2014 Will Be The Year Of The ___: • Publish or Perish • Event Integration • Voice of the Customer – Listen Don’t Ask • Social Curation • Content Marketing • Native Advertising • Holistic Measurement

• Additional digital staff • New product mix including events and digital products • New design – Not your Daddy’s Business magazine • Strategic partnerships • Weekly “smarketing” meetings • Listen to client needs and what is missing in the market

How Tiger Oak has Adapted

Thank You

Tom O’Neill

President

The Nerdery


We will be the best place in the world for nerds to work.

1 Trust your Data

2

3

Work Smarter, Not Harder

Start Small and Iterate

TRUST YOUR DATA

NERDERY DATA

INFORMED

DECISIONS

WORK SMARTER, NOT

HARDER

START SMALL

AND ITERATE

START

SMALL

& ITERATE

START

SMALL

&

ITERATE:

WHAT?

START

SMALL

&

ITERATE:

HOW?

ONE MORE THING…

NEVER

STOP

LEARNING

Dave Faust

Director of Sales & Marketing

Anchor Bank


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The State of Banking

Why Banks Don’t Have to be

Bad for Business.

Environmental

76

JUSTICE, JP MORGAN

CHASE AGREE ON

$13B SETTLEMENT

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Regulatory Impact

Credit Availability

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$

79

Technological Advances

Banks should be a resource for you

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Thanks to all of the business owners

and leaders in the room for being

the backbone of the economy.

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Thank You

John P. Palen

CEO & Founder

Allied Executives


Strategies For Business Execution


Strategies For Business Execution


I. Organization

II. Culture

III. Communication

IV. Accountability

V. Discipline

VI. Outside Support

I. Organization


• Methodology

• Process & Procedures

• Job Descriptions

• Org Chart

• Planning


• Purpose

• Core Values

What are you and your employees in it for?

How does everyone know they are winning?

• Reward, Recognition, Celebration

II. Culture


Performance & Results Feedback

Purpose Driven Meetings

Creating Alignment & Buy-in

Leading Indicators Vs Lagging Indicators

III. Communication


IV. Accountability

Defined Goals + Measured Progress +

Communicated Results = Accountability

• Right People Right Seat

• Define Your Business

Formula

• Dashboards & KPI’s

• Communicate Daily


• Top Down Commitment

• Wearing All The Hats

• Keep It Simple 4DX

• Unwavering Devotion to Progress & Results

• Hire Slow, Fire Fast

• Cashflow & Profit over Revenue

V. Discipline


• Peer Groups

• Consultants

• Industry Specific Associations

• Experts & Advisors

• Board of Directors

VI. Outside Support

Independently Self-sufficient

Business Execution


Panel Discussion

Business & Economic Outlook Event 2014 - Allied Executives · Allied Executives Business & Economic Outlook Event 2014 . Chuck Palmer Regional Managing Director ... PLANNED SCORECARD

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