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6 Practical Ways to Create an Accountability Culture in a Company

6 Practical Ways to Create an Accountability Culture in a Company

Accountability is an odd concept. It has been defined as having the responsibility and authority to act and fully accept the natural and logical consequences for the results of those actions. Personal accountability is an admirable trait, one that everyone should strive to attain. But as a leader, or even as a high-functioning member of a team, it is essential to create an accountability culture for individuals and the group as a whole.

While some may attach a negative air to the word accountability, research indicates that holding people accountable for their results has very positive effects: greater accuracy of work, better response to role obligations, more vigilant problem solving, better decision making, more cooperation with co-workers, and higher team satisfaction.

At its foundation, the tips for creating an accountability culture are S.I.M.P.L.E.:

  • Set expectations
  • Invite commitment
  • Measure progress
  • Provide feedback
  • Link to consequences
  • Evaluate effectiveness

But as it goes with all foundations, there must be a firm structure added in addition to having a complete building. Here are several additional tips to help build an accountability culture in a company:

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Set expectations

It is important to set firm, clear, and concise expectations for any group. Accountability will not grow where team members are unsure of the group’s purpose and vision. Teams need to know what is expected of them before they in turn can be expected to be held accountable.

You can set expectations by:

  • Clearly communicating the team’s mission and vision.
  • Emphasizing the urgency and importance of whatever task you have assigned.
  • Laying out the standards that will be upheld throughout the process. Be specific regarding end results, time frames, and expected levels of effort.
  • Clearly and explicitly defining each member’s role and responsibilities.

The clearer initial goals and expectations are, the less time will be spent arguing when someone is held accountable because of ambiguous initial goals.

Invite Commitment

Although you may make these initial conditions and goals clear, it is important to have the team members commit to these standards and expectations. Work with your team to make sure that everyone commits to their role, understanding how it will benefit both the individual and the team. Be sure to put it in writing, too. This will give the commitment a physical representation that cannot be debated.

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Accountability grows when this connection is made, and is enhanced when other people are aware of the commitment. Team members are further motivated to accomplish their tasks and will more readily welcome you holding them accountable for their actions or lack thereof.

Measure progress

Measure the progress of team members in alignment with the goals and expectations set out at the beginning. Goals can only be measured when they are quantified. Compare the measured results to the goals to find out where team members need the most improvement.

Provide feedback

After setting clear expectations, committing to set goals, and measuring progress, it is important to provide feedback to team members so that there can be improvement towards the goal. When creating an accountability culture in a company, make sure that the feedback that you do give highlights both the positive things that the team member has done and the areas where they can improve.

There are several methods of providing feedback that you can research. One example is the Rose, Bud, Thorn method.

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No matter which method you may prefer to use, here are some tips to give the best feedback possible:

  • Talk about the work and behavior, not the person.
  • Work with your team member to improve the situation.
  • Don’t harp.

Link to consequences

Not all people are driven by internal motivating factors. It is important to emphasize the link to consequences, whether as a ‘whip’ behind the team members to drive them forward, or as a carrot for them to chase. As a leader, it is key to assess and realize which type of motivation different people may need.

Evaluate effectiveness

Not all methods of operation are effective! Waiting until the end of the process or project to evaluate the effectiveness can severely hamper the potential of you as an individual or your team as a whole. Step aside and assess the plan and the participating team members. Evaluate the effectiveness of each component, good and bad, in relation to the goal and mission.

An accountability culture does not end with evaluating effectiveness, and it is not established by going through this process one time. Once you take stock in the efficiency of the process and team, use the information you have gained to improve the process moving forward.

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Bonus

With accountability, a team full of Directly Responsible Individuals (DRI) can be created.

When assigning a task, make sure that at the end of the day, a single person is responsible for its completion. It is acceptable to have a team helping to get it done, but when something goes wrong that person is the only one accountable. This eliminates confusion and opportunities to blame someone else.

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Last Updated on June 22, 2018

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider consolidating multiple credit cards if possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to pay the full balance you spent each month at the very least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay extra when you can – every small amount counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a plan on how to pay extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out costs for services you do not use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get aggressive about it

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate your progress at set intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start knocking out your debt today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

Featured photo credit: Pexels via pexels.com

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