1: Getting better at getting better is what RiseWithDrew is all about.
Monday through Thursday, we explore ideas from authors, thought leaders, and exemplary organizations. On Friday, I share something we are doing at PCI in our quest to earn a spot on Fortune magazine’s 100 Best Companies to Work For.
2: This week we’ve been looking at some of the best practices from Danny Meyer, the renowned restauranteur who operates 18 restaurants in New York City, the most competitive restaurant market in the world.
As CEO of a large, successful organization, Danny makes time every four weeks to meet with new associates who have started in the prior month.
Like Danny, I also prioritize meeting with all new hires at PCI. Every month, we have our new hires start on the same day, called NotTheTypicalFirstDay@Work during which I spend a majority of my day welcoming everyone to PCI and sharing the key elements of our workplace culture.
3: As CEO, my three most important responsibilities are: (1) fortify our workplace culture; (2) look into the future and identify ways to capitalize on our successes; and (3) strengthen our leadership capabilities across the organization. I am always on the lookout to create frameworks and/or recurring meetings. Today, we will review some of the elements we have in place:
Every five years Rhythms:
o Servant leadership is our leadership philosophy at PCI. Once every five years, all PCI associates are divided into groups to read and discuss The Servant as Leader by Robert Greenleaf.
Annual or Semi-Annual Rhythms:
o One-Day Annual Planning Meeting with our nine-member CEO Council (PCI leadership team): This is a critical part of the Entrepreneurial Operating System (EOS) where we decide upon our 10-year Vision, 3-year Picture, and one-year Plan.
o Twice a year, we select a book to read and discuss across the organization. All associates are invited (but not required) to participate. For the last several years, one of the books we’ve selected has been on the topic of racial injustice.
o Straight Talk with Drew: Twice a year, I meet with every team in our organization. It’s an opportunity to share information directly, conduct a learning exercise, and lead a discussion of “plusses and deltas” – what’s working and what’s not working. Each team holds me accountable for a minimum of one item on which I pledge to report progress the next time we meet.
o Chairman’s Club Dinner: Annual celebration event for our top salespeople.
o Not The Typical Quarterly Business Meeting (QBM or All-Hands meeting): Once a quarter, we bring all associates together either regionally (pre-COVID) or via zoom (post-COVID) for an All-Hands Meeting where we report on all metrics and recognize top performers and associates who are living our values.
o One-Day Quarterly Planning Meeting: Each quarter, our CEO Council meets to assess our progress against our annual Plan and select our “Big Rocks” or objectives for the upcoming quarter. A crucial part of the EOS process. Note: the annual and Q1 quarterly meetings are held back-to-back, becoming a 2-Day exercise.
o Quarterly Conversations (QCs): Every associate at PCI meets with their direct supervisor once a quarter to discuss what’s working and what’s not working. There is also a discussion about how well the associate lives the five PCI values and their fit within their current role, called “Right Person, Right Seat.”
o Quarterly Board of Directors Meeting: I’m a big believer in having an active board to review financial information and discuss the strategic direction of the firm.
Monthly or Twice Monthly Rhythms:
o Monthly Two-Hour “Same Page Meeting” with myself and our COO. The goal is to surface, discuss, and decide on any outstanding issues, so we present a united front on key issues to the CEO Council and across the organization.
o NotTheTypicalFirstDay@Work: Our on-boarding day. See above.
o Week Two New Hire Training: The second week of our new hire training, I lead a discussion around our values.
o 60-Day Celebration: The new hires gather again 60 days into their tenure with PCI for an afternoon of training and feedback. I kick it off with a one-hour “Knower vs. Learner” training.
o Monthly Trailblazer meeting with all PCI leaders who manage teams. Content is focused on leadership and management training.
o Situational Workshop: Our CEO Council meets twice a month for one hour to discuss two strategic or tactical topics. Content rotates amongst the leadership team. Three times a year, we utilize this meeting to examine (1) What have we learned in the last four months? (2) What requires an urgent response? (3) What resistance should we anticipate/prepare for? (4) Ultimately, how will this learning influence/change our annual Rocks, 3-Year Plan, and 10-Year Vision?
o Level 10 (or L10) meeting: Each week, our CEO Council meets for 90 minutes to review key metrics and to IDS (Identify, Discuss, and Solve) any open issues.
o 10@830 Daily Huddle: 10 minutes at 8:30 am. Every morning we review our purpose, five values, and key metrics. Each day a different department does a two-minute “Expanded News” to share something new on which they are working.
Reflection: Are there areas or issues in my organization that would benefit from a regular, recurring meeting?
Action: Discuss with a colleague.