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Building Better Business Relationships - It's CRITICAL!
by Dena Moscola
Businesses today are focusing attention on building their relationships more than ever before. For many the focus on relationships is their New Years Resolution – but why? Relationships are not new to the business world. However, as business evolves, those who are innovative enough to take their relationships seriously NOW will reap the reward of greater success later. Lets look at some facts:
Our economy is changing drastically and quickly. Labor pools are decreasing which is creating the focus on retention. The Department of Labor reports that between the years of 2000 and 2015 we will experience the baby boomers retiring, a 31% drop for 35 and 45 year olds and a 2% drop for 24 and 34 year olds. Less people and more career options have turned a consumer market into an employee market.
Newer generations (soon to be the majority) are demanding more communication, inclusion, support and different levels of respect than previous generations. Women (a fast growing workforce) are choosing companies that offer flexible work schedules and understanding of family responsibilities. People in general are seeking a balance between work and home that will enable them to have a higher quality of life.
Technology growth is requiring IT leaders to be stronger at the Executive table and have teams that work closer with the rest of the organization. Buy in, teamwork and accountability are CRITICAL to organizational success that is driven by the quality of the relationships. Studies continuously reveal that people stay on the job NOT because of financial incentives but because of how they FEEL about their work environment. Simply put - people do not leave jobs they leave managers.
Organizations are beginning to experience a sense of urgency to deploy initiatives and create cultures that support their people and build better relationships to secure talent as productively as possible.
The following are examples of what organizations are finding invaluable to building better relationships:
- Reward with time off
- Flexible work schedules
- Women's initiatives
- Career development counseling
- Mentor programs
- Leadership development programs with a strong focus on coaching and relationship building skills
Clients continuously report that Resolutions' Leadership Program is extremely effective in guiding leaders and their teams to enhance their effectiveness. It provides a clear understanding of why the softer skills are invaluable to business success and teaches how to implement new strategies and perspectives that achieve priorities faster and better.
There are 5 key elements to building and maintaining successful business relationships. Those are:
- Good Rapport
- Minimal Conflict
- Shared Commitment
- Accountability
- Aligned Priorities
Challenges in one area will ultimately affect the relationship. At the same time, all elements are needed to simultaneously build strong relationships. For example, when rapport is strong, people are more likely to want to work with you and go out of their way to follow through for you. They also will be more willing and open to work through conflict, which strengthens commitment, builds accountability and in turn motivates everyone to keep their priorities aligned. What are you doing to improve the relationships in your organization? How high on the priority list is it? Many find it helpful to take a look at the 5 key elements listed above and jot down 3 NEW things you can do to strengthen each. And for those of you who say, "Those areas are already strong!", you might want to consider how beneficial it would be if those areas were even stronger.
Ideas for improving each can be found in our newsletter article titled: 5 Elements to Strong Business Relationships. We will do a 5 part series that provides you tips and strategies proven to make a difference. Part 1 is in this current newsletter, below with a focus on rapport. The other elements will be featured in the next 4 publications. Be sure to check it out!