10 Strategies for Holding Employees Accountable
As a founder and CEO of a midstage startup, holding your executives accountable
is essential for achieving success and meeting goals. However, it can be
challenging to establish a culture of accountability in the workplace.
This guide offers 10 proven strategies we have gathered over the years to help
you hold your executives accountable and create a more productive and successful
team.
Read these 10 tips that better hold people accountable for delivering results in
a midstage startup under high pressure to make its next funding round.
One of the most important strategies for holding e accountable is to establish
clear performance expectations. This means clearly defining roles,
responsibilities, and measurable targets to avoid confusion and ensure everyone
in the team is aware of what’s expected of them.
In midstage startups, we try to keep things simple enough so that you get 80% of
the results with 20% of the effort. Our tip when it comes to defining roles and
responsibilities is do what Peter Thiel did when he ran Paypal: clarify the one
thing (and only one thing) that is the non-negotiable outcome of each role.
Don’t allow laundry lists of responsibilities but elevate just one objective
number that is the key outcome you expect.
For example, for your marketing executive, decide if what matters most is leads
generated. Or people reached. Or number of campaigns. Or how clever the copy
sounds. Or how pretty the art pieces look. But not all at once. Just one, and
you are the one to pick it. Not them.
Once specific goals and objectives for each executive have been set, these goals
need to be communicated clearly and consistently.
Make sure each executive understands what is expected of them, and provide
regular feedback on their progress towards meeting those expectations.
This will help ensure that everyone is on the same page and working towards the
same goals, which is essential for creating a culture of accountability in the
workplace.
2. Communicate Progress Regularly
Regular communication is key when it comes to holding executives accountable.
The traditional big-company way is to schedule regular check-ins with each
executive to discuss their performance, provide feedback, and clarify any areas
that need improvement or additional support.
But we find you get 80% of the results with 20% of the effort by checking in to
results in team meetings. This not only shares everyone’s results across
leadership, it also makes people feel accountable towards their peers and not
just towards their boss. Much harder to flee responsibility that way.
3. Set SMART Goals
One of the most effective ways to hold executives accountable is to set SMART
goals. SMART stands for Specific, Measurable, Achievable, Relevant, and
Time-bound. These ensures everyone understand what success looks like.
When setting goals, make sure they are specific and clearly defined. They should
also be measurable, so progress can be tracked and evaluated. The goals should
be achievable, but still challenging enough to motivate executives. They should
also be relevant to the executive’s role and the overall goals of the
organization. Finally, make sure the goals have a specific deadline or timeframe
for completion.
By setting SMART goals, executives will have a clear understanding of what is
expected of them and how their performance will be evaluated.
Transparency is key when it comes to holding executives accountable in the
workplace. This includes keeping everyone informed of the company’s financial
situation.
Ensure everyone is aware of the company’s cash flow and funding situation, and
how this relates to the work they are doing. This will help motivate everyone to
stay focused and work towards common goals.
When executives understand the financial health of the organization, they are
more likely to take ownership of their work and make decisions that benefit the
company as a whole. Regularly sharing financial reports and updates can also
help executives understand how their individual contributions impact the bottom
line. This can motivate them to work harder and take responsibility for their
actions.
5. Foster a Culture of Accountability
Creating a culture of accountability in the workplace is essential for success.
This means encouraging everyone in your team to hold themselves and each other
accountable for delivering results. This will help create a culture where
individual accountability is the norm.
To foster this culture, leaders should lead by example, communicate openly and
honestly, and provide regular feedback and recognition for a job well done. When
executives feel valued and supported, they are more likely to take
responsibility for their actions and work together to achieve common goals.
It’s also important to establish consequences for not meeting expectations, such
as a performance improvement plan or disciplinary action.
6. Provide Necessary Resources
Holding executives accountable for their work is important, but it’s equally
important to provide them with the necessary resources to succeed.
Make sure executives have the resources and tools they need to get the job done,
such as relevant technology, training, and development opportunities.
By investing in your executives, you can help them reach their full potential
and achieve their goals. When employees feel supported and empowered, they are
more likely to take ownership of their work and deliver exceptional results.
7. Have Constructive Conversations Around Challenges
Rather than focusing on blaming or shaming, have constructive conversations
around why challenges are being faced and what can be done to overcome them.
It’s never a good idea to point figures. Instead, focus on understanding the
root cause of the challenge and how it can be addressed as a team. Ask questions
to gain clarity and insight into what is causing the issue and brainstorm
solutions together.
Encourage open dialogue and collaboration to come up with creative solutions
that everyone is on board with. Be sure to recognize any progress or success
made along the way, no matter how small.
Holding executives accountable can be a delicate balance between addressing
issues and maintaining positive relationships. Make sure that you navigate this
area carefully so executives continue to feel supported amidst challenges.
Reinforce top performers through monetary and non-monetary rewards and
recognition. Monetary rewards could include bonuses, raises, or other forms of
compensation. Non-monetary rewards could include public recognition, awards,
additional vacation time, or special privileges. Additionally, providing
opportunities for professional development and growth can be a great way to
reinforce top performers.
Encouraging high performance with rewards is one of the most effective ways to
hold executives accountable. By recognizing and rewarding top performers, you
create a culture of excellence and motivate others to strive for success.
Monetary rewards are a great way to show appreciation for hard work, but
non-monetary rewards can be just as effective. This strategy helps create a
positive work environment that fosters accountability and success.
9. Encourage an Open and Transparent Communication Culture
Develop an open culture of communication, allowing executives to share their
victories and challenges, and ensuring the necessary support is given to create
a winning environment.
Encourage an open dialogue between executives and managers. When you create this
environment, executives feel comfortable speaking up and sharing their thoughts,
ideas and concerns with the whole team.
Establish a feedback loop to ensure that all voices are heard and taken into
consideration when making decisions. Celebrate success together as a team and
recognize individual contributions as well as collective achievements.
Accountability comes naturally with an open communication culture in the
workplace. executives know that their opinions and decisions will be taken
seriously and this creates a strong sense of ownership and responsibility.
10. Be a Reliable Leader
Offer stability, clear direction and vision, and create a culture of
transparency and inclusivity.
Executives should know your big vision so they can see the roles they play
within it. They feel inspired and motivated to contribute to it. They should be
aware of how their individual roles fit into the bigger picture, and how their
work contributes to the success of the organization as a whole. Your role as a
leader is to ensure that everyone moves in the same direction.
Accountability starts with you. When you hold yourself accountable, your
executives will be more likely to follow your lead. By being a reliable leader
who holds oneself and his workforce accountable together, you create a culture
of success and achievement within your organization.
These 10 strategies are crucial to your growth as a midstage startup. Remember,
midstage startups are critical growth phases, and so it’s important to lead and
motivate your team towards a common goal.
By fostering accountability, setting clear expectations, and creating an open
and transparent culture, you can more confidently push forward with the support
of a team that is aligned with delivering business results.
If you need more guidance on implementing these steps, please visit midstage.org/unleash for resources, podcasts, or a conversation.
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The Midstage Institute drives momentum for disruptive technology companies from our offices in Silicon Valley.
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