Focusing on ROI leadership
It might be fall and the leaves are beginning to change, but as leaders of our organizations, we typically know this time of the year as “budget season,” and we’ve been spending a lot of time and energy mapping out our priorities for the next calendar year. This is why a recent piece in Forbes by Dee Brown, CEO of the P3 Group, on the importance of sound ROI leadership decisions stood out to me.
Brown starts off by discussing the foundation of “ROI Leadership,” explaining that, as leaders, we must be able to make decisions that will lead to a strong return on investment both for our organizations and our employees. The ability to make decisions that will provide value for our organizations isn’t always easy, but those who are ROI-focused tend to have the ability to identify opportunities, make informed decisions, and take decisive action.
Brown outlined several key factors to help leaders focus more on providing value to their organization and employees, recommending the following:
- Clearly define your goals. Ask yourself what you want to achieve and seek options that will put you on the right path.
- Look at all relevant factors. Ensure you’re thinking through costs and benefits, feasibility, and risks vs. rewards.
- Measure your results. Measurable outcomes will help you identify areas for improvement in real-time and allow you to make more informed decisions moving forward.
- Be prepared to adjust your plans. Understanding and appreciating the need for flexibility in your plans will allow you to more effectively reach your goals.
Taking these steps will not only allow you to provide increased value for your organization as a whole, but should also be used when investing in your employees and those who your organization serves. At NAFCU, we are an extreme service-driven organization. We know that investing increased time and resources into what we provide our members will not only make our organization more effective, but our industry stronger to best support our credit union members and the 133 million Americans they serve.