2016 1st quarter peer group recap
Posted on May 17, 2016
Member company CEOs and their leadership teams participated in peer-to-peer roundtable discussions to help drive management excellence and innovation within their organizations. During the 1st quarter of 2016 the CEO, Finance and the President/Senior Vice Presidents peer groups met to discuss growth and change within their organizations. The IT and Operations leaders met to discuss the trends and challenges for the year and share best practices to prepare themselves and their organizations for a successful 2016. The Sales and Marketing leaders met with IT leaders and also with HR leaders allowing for cross-functional learning and alignment.
Peter Broer, CEO of member company, Lumitex, led the CEO peer group on a tour of the Strongsville, OH facility where they design and manufacture innovative light delivery solutions for medical, electronics, industrial and other diverse applications. Peter shared the trials endured, opportunities seized and pitfalls narrowly avoided over the course of Lumitex’s 30+ year history. The group discussed the perils of growth and strategies to avoid them focusing on systematic changes in operations, inventory control, investors, patents, pricing, talent management, satellite locations, IT/ERP, and engineering as well as returning to fundamentals of strategy, planning, mission, vision, values.
The Presidents & Senior Vice Presidents peer group met in March and discussed change management and innovation including succession planning, change management, growing mid-level managers and culture of performance. The discussion focused on implementing the PIC/NIC Methodology (Positive/Negative Immediate Consequence) as well as a discussion on metrics of change and defining success.
Finance leaders met at BNY Melon where Jere Doyle, an estate planning strategist, shared his knowledge about estate, financial and succession planning as well as trusts. Peers discussed the value in educating all employees on financial and estate management and how to best align HR and Finance with these efforts.
IT leaders met in January to discuss the top trends for 2016 and how it relates to the strategy and culture of the organization. The group discussed IT integration into other business functions especially HR, Marketing & Operations and how IT leaders best align business strategy and organizational initiatives with IT.
Operations leaders discussed the top trends and challenges they are facing including metrics for highly engineered and customized solutions, international markets and environmental regulation. The group also discussed best practices for succession planning as well as training and development.
Sales & Marketing leaders met with IT leaders in March discussing social media trends, analytics and marketing automation. Social media can build relationships with customers and prospects and help share success stories as well as serve as a talent attraction tool. Many of the challenges that arise are the differing approaches to social media use depending on B2B vs B2C, maintaining the privacy of the customer base, exposing intellectual property.
HR leaders met with Sales and Marketing leaders for an in-depth discussion on brand building and the importance of HR and marketing to partner in brand execution. In assessing company brand claims, participants identified their company’s “golden circle,” described by Simon Sinek:
The key takeaway from this session was the importance of leaders to have a consistent set of company values and the best ways communicate them to employees, customers and other stakeholders.
Upcoming for the 2nd quarter peer group participants will delve into topics including: Growing Through Mergers & Acquisitions (Finance), Leadership, Learning & Performance (CEO + Operations), Coaching (HR), Creating Value (IT), Competitive Strategy & Issues, Challenges and Opportunities (Sales & Marketing) and Change Management (Presidents/Senior VPs).
To learn more about how you and your leadership team can benefit from peer-to-peer learning, contact:
Membership Development Director, Sarah Shoaff.