What % of your unit/team’s full potential is presently being exploited?
Most business units and teams have a lot more to give. Indeed, data shows that as much as 39% of the full potential of any unit or team goes unexploited*. But what about your business unit or team: How much of its full potential is presently being exploited?
What is Performance Potential?
Many organizations are meeting their targets, while a great number of their people are operating at between 55% and 74% of what they are capable of. That is why ‘performance’ and ‘performance potential’ are two separate things.
Look within even the most successful organizations and you will find leaders and teams that are performing well below their full potential. This is true of industry titans and innovative start-ups. Indeed, the average across 47 markets and 12 industries is just 61% of full potential exploited*.
Your Team’s Full Potential
Imagine your business unit or team operating at 70%, 80% or 90% of its full potential. What new innovations, efficiencies, products and capabilities might result? Also, what new levels of energy & engagement might be experienced?
For people to be operating well below their full potential could be seen as a major performance loss – a loss of talent, opportunity and resources. However, imagine, if only a small proportion of the untapped potential within your team was exploited! Take a moment, reflect on what the could mean.
Finding Hidden Potential
The conclusion from our research is clear – there is no shortage of potential within organizations, business units and teams. Much of it is hidden however. For example you won’t find it listed on the balance sheet!
The performance potential of an organisation, although hidden, could be its greatest resource – more valuable than additional production capacity, buildings or plant. That is why finding and exploiting your business unit or team’s hidden potential is a strategic priority. It is also our mission.
1. You want the best for your organisation
You want your organization/unit’s key projects & strategies to succeed.
To develop its ability to compete & innovate a fast-changing marketplace.
To meet & exceed the needs of customers, investors & other stakeholders.
2. You want the best for your team
You want them to develop their talents & realize their potential.
You know that their performance and their well-being are closely linked.
You want to create an environment & culture that brings out the best in people – where they can thrive.
Transforming Potential into Reality
You want more from your team, but you also want more for your team and it’s members. Moreover, you strongly believe that your team has a lot more to give. But how to transform this belief into reality?
New Breakthroughs in Performance Potential
Growth Pitstop® enables leaders to systematically identify and exploit the performance potential of their business units & teams. This is made powered by new insights from the science & psychology of performance, backed by big DATA analytics.
Today we have a much deeper understanding of the many factors that impact on individual and collective performance. That is thanks to the addition of new insights from social psychology & behavioral economics. Using BIG data analytics these variables can now be scientifically measured and modeled by Growth Pitstop®.
Based on a decade of applied research and inspired by the use of BIG data performance analytics in F1™, Growth Pitstop® enables leaders and their business units or teams to:
Measure the performance potential of your unit or team and put a number on it. This is called the P2P Metric™, or the ratio of performance to potential.
You need to know what your business unit or team is capable of. But, exactly how much of its full potential is presently being exploited? The answer is to measure it. It can then be tracked over time and allows you to set goals – your team may be at 62% today, with the objective of increasing that figure to 70% within 12 months.
Visualize the 186 factors (called performance losses, or gains) that determine the performance potential of your business unit or team.
Potential can be difficult to grasp. After all, there is no generally accepted definition of what performance potential is or standard list of the factors that shape it. To engage leaders and their teams in their performance potential, it needs to be tangibilized and made real. This is the job of the Pitstop algrorithm and meta-model.
Systematically identify performance losses for your business unit or team and convert them into gains, typically that means gains of between 7-25%.
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