01 Oct Are You the Tortoise?
I am sure everyone is familiar with Aesop’s fable “The Tortoise and the Hare,” which tells the story of a race between a tortoise and a hare. One of the key themes deals with patience, hard work, and a slow but steady approach by the tortoise, where he eventually wins the race. This story is analogous to an expression coined several years ago that building a strong E&O culture is “a marathon, not a sprint.”
I recently mentioned this to one of the great E&O Plus firms I am honored to deal with. This agency, like many others, especially when they first join the E&O Plus program, would really like to quickly address and comply with the various report suggestions in a very short time period. While some agencies may be able to achieve that, for many, a “slow and steady” approach may be more realistic and achieve greater sustainable progress moving forward.
When one starts a regimented workout routine, typically, the goal is progress. Whether it involves time on a treadmill or an elliptical (in my case) or the weight and the number of reps, isn’t the goal to keep improving upon what you achieved the week before? Or, if you are looking to lose weight, the goal is probably to lose two pounds a week, not 20. Recently, I got an article from my financial advisor discussing the value of “small gains” (I would rather have small, consistent gains as opposed to the roller coaster ride in the markets this past year).
From an E&O perspective, wouldn’t a small-gains approach to improving your E&O culture and compliance levels be beneficial? That small-gains approach could very well be measured at the individual level. As the E&O awareness and commitment of each agency staff member increases, it stands to reason that the overall agency E&O culture and awareness will then grow.
How to measure small gains can be a challenge. If the agency has an active and well-structured audit program, this is probably one of the best tools to gauge progress and growth. If a division grows from 50% to 60% compliance, while it is still not the 80% compliance level (this is the E&O Plus desired level), the result shows gains and progress. The key is that, at a minimum, the small gains continue on an upward trend. With that continued progress, it will only be a matter of time before you hit the 80% level. If the agency does not have a formal auditing program, initiatives such as spot-checking will show whether gains are being achieved in documentation and memorialization to the client detailing client discussions and purchases. Slow and steady; hard work and patience.
One key approach to achieving gains, whether large or small, involves management walking the walk and talking the talk. The more staff can see that your agency has a serious commitment to building a stronger E&O culture, the more they will embrace it.