Are you sharing too much, too little, or the wrong info with employees?

Sage, Jacob Morgan, and xactly are working together to demonstrate what the office of today should look like and the information that should be shared with employees and why.

Transcript

1. © 2015 Sage Software, Inc. All rights reserved Are You Sharing too Much, too Little or the Wrong Information with Employees? @SageNAmerica @JacobM @Xactly
2. © 2015 Sage Software, Inc. All rights reserved Introduction Doug LaBahn, Ph.D. Sage Global Vice President @douglabahn Jacob Morgan Author Speaker & Futurist @JacobM Tom Castley Xactly Corporation Managing Director, EMEA @Xactly
3. © 2015 Sage Software, Inc. All rights reserved The ambition 15/09/2015 3 The Past The Future
4. © 2015 Sage Software, Inc. All rights reserved The challenge 9/15/2015 4
5. © 2015 Sage Software, Inc. All rights reserved The journey 9/15/2015 5 ! 1 2 3 4 ! ! Detours What the best SMBs Do
6. © 2015 Sage Software, Inc. All rights reserved We Wanted ‘Less Talk’ and ‘More Proof’: Major 3-year Research Study – What the Best SMBs are Doing Objectives: Identify and share what the best are doing 6,200 businesses have participated 2,915 small & medium businesses GROUP 1: Leading the Way: SMBs that are winning and keeping customers better than their competitors GROUP 2: Fading Away: SMBs that are falling behind their competitors 9/15/2015 6
7. © 2015 Sage Software, Inc. All rights reserved Detour #1: So many vendors and dashboard designs to choose from Danger! Getting ‘starry-eyed’ with a vendor before you define your strategy Danger! Jumping right to dashboard design by borrowing from the 1000s available online 9/15/2015 7 70% of projects fail to achieve their objectives
8. © 2015 Sage Software, Inc. All rights reserved Detour #2 So many different strategies that might work 5 Popular Information Sharing Strategies 9/15/2015 8 Bottoms-up Listening Data Scientists (Experts) Leadership Democratization of Data Team Ownership Businesses are looking for answers and struggling to deliver results !
9. © 2015 Sage Software, Inc. All rights reserved Which information strategies are SMBs using? 86% of businesses could be doing better 9/15/2015 9 Bottoms-up Listening Data Scientists (Experts) Leadership Democratization of Data Team Ownership 8% 45% 22% 11% 14%
10. © 2015 Sage Software, Inc. All rights reserved 47% 66% 34% 53% 57% 43% 60% 40% How well is each strategy working? 9/15/2015 10 Using this information strategy 69% 31% Bottoms-up Listening Data Scientists (Experts) Leadership Democratization of Data Team Ownership Too Much Information Too Little Information It’s not what I’m seeing from my perspective As a team, we learn from the consequences of our decisions Often siloed information Fading Away Fading Away Fading Away Leading the Way Fading Away
11. © 2015 Sage Software, Inc. All rights reserved Metrics must be tightly linked, real-time and actionable Lessons learned from SMBs Leading the Way 9/15/2015 11 Breadth of metric coverage Specificity of metric and linked to individual rewards C-Level Manager Employee “if we don’t get to 85% renewals by Year-end, our investors be…” “if my team renews 90%, I get …” “if renew 1 more customer, I get an extra $2,500” Tightly linked, ‘looking ahead’ based on ‘one source of the truth’ Real-time, reliable and very accurate (e.g., sales rep compensation)
12. © 2015 Sage Software, Inc. All rights reserved Your metric strategy should fit on 1 page Lessons learned from SMBs Leading the Way 15/09/2015 12 C-Level Metrics Commitment Drivers VP/manager Level Metrics Employee Level Metrics Profitable Growth We will sell achieve high opportunity- to-deal close rates by targeting the right customers with a profitable mix of products and services. Sales performance • Sales achievement and forecast • Cash forecast • Pipeline conversion from opportunity to invoice • Sales achievement and forecast • Sales and marketing budgets • Pipeline conversion from opportunity to invoice • Sales achievement and compensation • Achievement toward trip and recognition incentives Sales & Marketing – financial effectiveness We will use best-in-class sales and marketing practices to achieve our results and adhere to our budgets. • Revenue collection We will sell to customers that are able to buy our products and deliver great customer experiences so that customers are willing to pay on time. • • • We will provide everyone with real-time information so that they can see the consequences of their actions. No one will be surprised at month, quarter or year-end. Highly engaged and innovative teams • Data Quality – everyone CONTRIBUTES and RECEIVES personally relevant Scoreboards which drive the right values and behaviors • Sales achievement and forecast • Cash forecast • Pipeline conversion from opportunity to invoice • Sales achievement and forecast • Sales and marketing budgets • Pipeline conversion from opportunity to invoice • Sales achievement and compensation • Achievement toward trip and recognition incentives • Sales achievement and forecast • Cash forecast • Pipeline conversion from opportunity to invoice • Sales achievement and forecast • Sales and marketing budgets • Pipeline conversion from opportunity to invoice • Sales achievement and compensation • Achievement toward trip and recognition incentives • Sales achievement and forecast • Cash forecast • Pipeline conversion from opportunity to invoice • Sales achievement and forecast • Sales and marketing budgets • Pipeline conversion from opportunity to invoice • Sales achievement and compensation • Achievement toward trip and recognition incentives
13. © 2015 Sage Software, Inc. All rights reserved Metrics must be tightly linked, real-time and actionable V2MOM - Vision, Values, Method, Obstacles and Metrics 9/15/2015 13 Vision Values Method Obstacles Metrics “Although there are many leadership paradigms and framework to follow, V2MOM offers new simplicity” – Marc Benioff – Behind the Cloud
14. © 2015 Sage Software, Inc. All rights reserved C-Level User stories 9/15/2015 14 I want… to have real-time accurate answers to my CEO’s important questions So that… I can provide valuable advise and help our CEO make wise operational and investment decisions. I want… to know our current and forecasted revenue, cash and profit performance real-time So that… I can make wise investment decisions and not put us into trouble by spending at the wrong time. As a CFO, Controller, Finance Director … As a Founder, CEO, President…
15. © 2015 Sage Software, Inc. All rights reserved C-level Scoreboards 15/09/2015 15 Sales and accounting teams’ performance versus plan metrics Current month PLUS forecast for next 2 months “Following” key metrics provides real-time notifications 2 3 1
16. © 2015 Sage Software, Inc. All rights reserved Manager-Level User stories 9/15/2015 16 I want… to know – with enough advance notice – when sales and marketing expenses are starting to get high So that… I can make changes now to get us back on plan. I want… to know what I have left to spend on marketing without hearing too late that we have money leftover So that… I can make wise marketing investments with enough time to maximize the results and drive sales. As a Sales Manager… As a VP of Sales and Marketing…
17. © 2015 Sage Software, Inc. All rights reserved VP and Manager Level 15/09/2015 17 Look ahead with real- time on remaining Sales & Marketing budget Same real- time information as the CEO/CFO “Following” key metrics provides real-time notifications 2 3 1
18. © 2015 Sage Software, Inc. All rights reserved Employee-Level / Team Member Level User stories 9/15/2015 18 I want… to know if I am delivering enough high quality and high converting leads for the sales team to make goal So that… I can know if my marketing campaigns are working so well that I will get invited to the club trip. I want… to know what I need to make another $20,000 this quarter and make the Club Trip So that… I can invest enough time now to achieve the earnings goals that I set for myself. As a Demand Gen Manager… As a Sales Account Executive…
19. © 2015 Sage Software, Inc. All rights reserved Sales Rep/Employee Level 15/09/2015 19 Service and Product sales goals are linked all the way from top line company goals through managers to employees
20. © 2015 Sage Software, Inc. All rights reserved Lessons from SMBs ‘Leading the Way’ 15/09/2015 20 The Blue Print for High Performance Three Key to Success You need Top-to-Bottom clarity and alignment on goals, metrics and remuneration. 1 3 You need ‘one source’ of truth’ that provides foresight and performance results in real-time in the palms of their hands. 2 You need to provide your teams their segmented financial information so they can understand the linkage and consequences of their decisions
21. © 2015 Sage Software, Inc. All rights reserved Come see us… 9/15/2015 21 Image to follow W 300 @SageNAmerica N 1807 @Xaclty