Accountability Chart Mastery (Part Four of Six). If your community bank, credit union, or non-banking business runs on the Entrepreneurial Operating System (EOS®) (or even if you don’t), the accountability chart is one of the most powerful tools to getting what you want from your business.
In part one of this series, we talked about what an accountability chart is why it is important to have one. In part two, we addressed some stories with creating accountability charts. In part three, we started reviewing some building blocks of accountability chart mastery. In part four of this series, we address building out the leadership team level of your accountability chart.
In part three of this series, we have the start of an accountability chart at the leadership team level. Once the leadership team has that done to their relative satisfaction, sit on it for a few weeks. At your next leadership team L10 team meeting, review the work you did to see if you are still in agreement on it. If not, do the changes necessary and then sit on it again.
While we are pressing you to get it right the first time, as a leadership team, you can always change course. Taking the time now to get it 80 to 90% right will save some heartache in a few months if you suddenly realize that a function should be accountable somewhere else.
Now that you have the accountability chart right for your organization, put names into the seats – evaluating each leadership team member nominated to occupy that seat. Sometimes seat members may be obvious (Finance and Sales are usually these), but sometimes, the name which would be obvious to go into a leadership team position seat is a better fit for a seat further down in the accountability chart. For instance, some sales folks are great at meeting customers and closing deals but may have a limited ability to run a team, set sales goals for the team and generally be a leader.
Focus on getting the accountability chart right, then put the people into the seats. Expect some leadership team heartache – it’s part of the process!
When your leadership team is comfortable with the accountability chart, then have each member of the leadership team build the accountability chart under their seat. Building out the accountability chart can be complicated and a bit time consuming and generally we do not recommend an HR person be tasked with this duty. The reason we do not recommend it is that the HR person will tend to be mentally stuck with creating/updating an org chart, not building an accountability chart. Their personality profiles tend to being a people-first view, not an accountability first view. If you decide to task one person with this, ideally it would be the Integrator or someone working with the Integrator to make sure you are objective on the accountabilities.
In community financial institutions (encompassing community banks and credit unions), things to look for are:
- Shared accountabilities in the operations areas under different leadership team members.
- Finance reporting up to an operational or sales leader. Finance needs to be on the leadership team.
- Two sales leaders on the leadership team – business and retail.
- Too many people on the leadership team. Ideally, you should be at five to seven people.
- We have seen product development and new product rollout accountabilities split between sales, marketing, IT, and operations. This accountability needs to be under one of these areas, and the other areas can be part of the rollout team.
- In smaller organizations, it is ok to have one person in two seats. Just never have one seat with two people.
- Owners and board of directors are not part of the leadership team unless they also have a functional role in the business. They are not listed on the accountability chart.
In part five, we’ll address creating a standalone accountability chart for a department of a company not currently implementing EOS.