Create metrics and get feedback
When you’re making changes, it may seem that you’re moving
along, but it’s important to have metrics to ensure progress.
“The first place you look is, how’s the business performing?”
Burkett says. “We measure our business a lot. All of those things
are somewhat telling around, do you have traction around your
business or do you have trouble points?”
Burkett says financial metrics are most important, so to ensure
they’re met, he established “proof points,” — 15 to 20 things that,
when he looks back at the end of the year, demonstrate that the
company has moved forward in its one-company initiative.
“You know exactly what you need to hit in revenue and earnings
and the associated underlying cost, but the thing about it is, there
are different ways to get to those financial numbers, so the financial numbers in and of themselves aren’t enough,” Burkett says. “In
defining our proof points, we said, ‘OK, in order to hit those financial numbers, what sort of outcomes have to come along with
those that will result in us not only hitting those numbers this year
but to have sustainable momentum.’”
For example, one of the smaller companies that constitutes
Ventyx has a product from which a large client of one of the
other Ventyx companies could benefit. In the past, that smaller
company hadn’t been able to sell to the client, so a proof point is
if it can sell this product to that client, it demonstrates strength
as one unified company because it hadn’t been successful on its
own.
In addition to objective metrics, you have to add a subjective,
human touch to the numbers by getting feedback from people.
Take questions and comments during communication forums.
Meeting with your top management also helps identify issues
because one manager may speak about something and others may
add that they’ve heard it, too.
“If the feedback is pervasive enough, then you’ve got to at least
consider that there’s something there,” Burkett says.
“Recurrence is an indicator.”
When you get feedback, don’t just ignore it — do something with
it.
“Be prepared to make course alterations based on feedback you
get from people,” Burkett says. “As new data emerges, sometimes
the nature of the change may manifest itself some. One of my obligations is to recognize that the destination of change may alter a
bit from what I thought it was going to be, so I have to be prepared
to be flexible when the circumstances and the data warrants.”
As more time passes, more evidence of successful change will
continue to surface. For Ventyx, victories so far include centralizing administrative functions and marketing organizations and getting everyone on the same intranet system. Additionally, the company completed another acquisition in February, so Burkett recognizes he still has a lot of work ahead of him. Despite the challenges, he offers some advice.
“The first thing I’ve had to do, and anyone similarly situated
had to do, is to resolve themselves that you don’t have a
choice,” Burkett says. “It’s their job and obligation to see the
integration and see the emergence of a single company all the
way through. Yes, you’ll get fatigued and frustrated, but, at the
end of the day, keep your eye on the principles that the clients
we’re servicing, if they wanted to deal with five companies, we
wouldn’t have had any reason to put these companies together. They want to deal with one company that does business in
a common and productive way.” <<
HOW TO REACH: Ventyx, (770) 952-8444 or www.ventyx.com