03 Sep “Execution is Everything”
The phrase “Execution is everything” can be attributed to Jeff Bridges, an American actor known for his leading roles in film and television. He has received numerous awards, including an Academy Award, a Golden Globe, and a Screen Actors Guild Award. I reference this tremendous actor because I sense that he knows a little about execution. He had the talent, but his attention to detail probably played a key role in his success.
“No excuses. No explanation. You don’t win on emotion. You win on execution” – 2016 Hall of Fame inductee Tony Dungy
When one stops to think about whatever you do at home, at work, in sports, and actually in life, isn’t your level of execution one of the main drivers that will heavily determine whether you can say, “That is a job well done?”
I can state with virtually no exceptions that every E&O Plus agency has extremely talented staff. They are all knowledgeable and highly professional. I am honored to have met many of the most talented people in the insurance industry in my 12+ years working with E&O Plus. If you were to ask many of these folks why they have been so successful, their response would probably include the words, “Having talent isn’t enough. It takes hard work, motivation, and persistence – virtually every day.” Said another way – It takes execution.
In my 36 years in the agent’s E&O world, I have touted that consistency is one of the top key buzzwords. Maybe it is time to modify that to “consistency in execution.” Doing what needs to be done consistently.
Auditing is one of the main areas that heavily measures an agency’s odds of facing an E&O claim. Auditing is the key tool that assesses levels of compliance in the various E&O Plus Key Components. This is why Angie, Mishell, and I dedicate a significant focus to the agency audit results and “push” those agencies that haven’t implemented an auditing program to start one. When the results fall below a certain level (minimum 80%), it is not that the staff were not talented. They seemingly always are. It’s that they didn’t execute. For example, they knew they should do an exposure analysis checklist, but they just decided not to. Or they knew they should memorialize a client conversation in writing back to the client – they just didn’t take the time. And I could go on and on.
While execution is certainly an individual issue, it is also an agency-wide issue. It needs to be an inherent part of the agency culture. Many agencies commented that “excellence is not a goal; it is an expectation.” Many a CEO has commented to me on their E&O claim results; “we just had an employee that wasn’t doing their job.” All it takes is one staff member not executing to the necessary level.
How strong is your agency’s commitment to “Excellence in Execution?” To repeat Tony Dungy’s words, “No excuses. No explanation. You don’t win on emotion. You win on Execution.”