Why a Facilitated Peer Group might be right for you – Part 5

So, what are the mechanics of a peer group?  How does it work and what do you work on?

By Greg Hayne, Hayne Coaching Group

A peer group works on operations, safety, legal, service, marketing, sales, hiring practices, how to structure compensation and incentive plans, how to deal with the changing nature of the workforce (millennials, workers who use English as a second language), company structures, and so much more. A facilitated peer group may be organized, supported and run by a facilitator, but ultimately, the group picks the topics, sets the agenda and decides where to devote their energy.

When you are dealing with an industry specific peer group comprised of non-competing members, you are typically located over a wide geographic area.  There are non-industry specific peer groups whose members may be in the same city but from different industries so you are still non-competing, just not industry peers.  These often meet more frequently with meetings of shorter duration, because everyone is in the same physical locality.

For an industry-specific group the ideal number of times to meet is 3 or 4 times a year.  Our groups start with 3 times a year and then alter the frequency at the members’ design and needs.  Depending on the size and structure of the meetings, you will fly into a host member’s city one day and start the meeting the next morning.  The duration of the meetings are typically one and a half to two days.  Optional outings (golf, etc.) can be arranged so the members can have a little fun and get to know each other better.

Our groups include a non-disclosure agreement to which all members are signatory.  Before meetings, members upload their financial information to a secure location.  From the individual statements, a composite financial statement is created by the facilitator, showing the group’s averages on key items. Each company is kept anonymous through a no-label system and metrics are used so you can tell how you are stacking up to your peers.  If you are not measuring it, you are not managing it.

The facilitator also participates in the interactions. As a trained coach they will ask questions that get everybody to dig a little deeper or see things in a different way.    Your facilitator moderates what is going on, keeps things on schedule and on track, but also contributes questions or insights that can really accelerate the groups’ understanding and progress.

More on how a meeting is organized in our next article.

If you are tired of trying to figure everything out for yourself, a facilitated peer group can help you too.

About Hayne Coaching Group

Hayne Coaching Group helps roofing contractors prosper by discovering and implementing smarter, better ways to work.  We provide executive coaching for key leaders in a company and organized and facilitated industry peer groups, so that companies may benefit from their group’s collective experience, buying power, accountability and so much more. For more information, visit www.haynecoachinggroup.com.