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Successful Goal Setting Tim Gase President Peerless Saw Co. April 2012

Successful Goal Setting Tim Gase President Peerless Saw Co. April 2012. Overview of Peerless Saw Company. Company started in 1931 Purchased the company in 1999 with 50% partner Manufacture custom made circular saw bodies ready for carbide tipping Approximately 50 employees

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Successful Goal Setting Tim Gase President Peerless Saw Co. April 2012

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  1. Successful Goal SettingTim GasePresidentPeerless Saw Co.April 2012

  2. Overview of Peerless Saw Company • Company started in 1931 • Purchased the company in 1999 with 50% partner • Manufacture custom made circular saw bodies ready for carbide tipping • Approximately 50 employees • Expected sales for 2012 – approximately $10 million

  3. Management Structure • Partner is responsible for Sales and Marketing • Has a Sales Manager • 4 inside sales reps • 2 outside salesmen (Southeast, Pacific Northwest) • I have all Administrative and Manufacturing • Which includes 5 direct reports • 4 of whom have a bonus structure set up for them • Controller – 15% of salary • Purchasing Manager – 10% of salary • Manufacturing Manager – 10% of salary • Manufacturing Manager – 15% of salary (bachelor’s degree)

  4. The Problem? • Set Objectives for myself and my Managers and we weren’t as successful as I would have liked in achieving these Goals • Often the Goals or Objectives weren’t met or achieved in a timely manner • End of Year disappointment in Bonus payouts • I wasn’t giving consistent feedback on progress in meeting their Bonus Objectives

  5. What Changed in my Thinking on how to improve our Performance • Needed to get away from the office for several days, sit in a tree for several hours and just think about ways to improve the business • And wait for a deer to come by of course!!!

  6. Why were we failing to complete our Goals and Bonus Objectives? • Did we have reasonable, attainable yet challenging Objectives – Yes, I believe so! • Were they measurable – Yes and No, some were too subjective • Were we holding ourselves accountable on a consistent basis – No, I don’t believe so! • It was more like out of sight out of mind • Discussed them at beginning of year, put in folder until November and then try to rush to get done what they could by the end of the year!

  7. So What Changed in my Mindset to want to improve on this? • If I have assigned the right Bonus Objectives I should want to pay out 100% on them every year! • It’s common sense: The sooner these Objectives are completed the sooner the Business sees the benefit from having these Objectives met. So I should be doing everything I can to make sure they accomplish these objectives throughout the year!

  8. What are we Doing to Make this Change Happen? • Established clear Goals that both parties agreed to • Also agreed to how we will measure successful completion of each Goal or Objectives • Keep them focused on the Goals and Objectives on a consistent basis – weekly/monthly (reminders in my planner) • not the old end of year review scenario

  9. Pay out bonuses quarterly as tasks are completed • In the past bonuses have always been paid out after the year is completed and we then reviewed performance. Immediate reward to further reinforce this type of performance • Manager reviews himself or herself first, I do same then compare differences • Typically very little difference between the two

  10. Examples of Objectives

  11. Mfg #1 Objectives for 2012 1) Delivery 15% a. Must maintain on-time delivery of at least 77% b. Maintain 90% or better on-time delivery for NAPCO each month 2) Lasers and Programming 15% a. Investigate other programming options for lasers • Find at least 3 alternatives, including cost of each option b. Continue work to get Sam trained to PM Lasers c. Estimate cost of operating current dust collector system • Estimate cost of putting in individual units on each laser • And cost to operate them d. Put plan together to monitor output and implement -Weekly • Pieces/hr, pcs/shift, beam on time? 3) Heat Treat Related 20% a. Finish rebuild of cooling press b. Help with rebuild of the Control System c. Find way to reduce heating element usage on Blue Light ovens • Possibly rebuild with elements similar to Dispatch ovens d. Supply monthly output numbers to Tim – monthly e. Conduct tests on trying to harden 4130 material

  12. Mfg #1 Objectives for 2012 4)Better Utilization of Raw Material 20% a. Implement Scrap monitoring program from Worthington Steel b. Reduce scrap material from 42% to 37% • Create spreadsheet to monitor monthly • Improve nesting • Monitor gage thickness • Utilizing more 75Cr1 in place of 8670 • Better utilization of salvage circles • Help with Worthington study of supplying punched circles 5) Find and buy used Haas VMC 10% a. Get Drill Press sold • Sell reamers • Get tables set up to finish coutersinks and center holes b. Design in finish safety guards on Volmer grinders 6) Control Manufacturing costs to budget 10% 7) Update safety training for 2011 10% • Lock out/Tag out, etc • Update Arc Flash training • Reduce repeat items on Ogle Safety reports

  13. 2012 Manufacturing Expenses

  14. Mfg #2 Objectives for 2012 1) Delivery 20% a. Must maintain on-time delivery of at least 77% • Late saw orders in the shop at 30 or less each week b. Maintain 90% or better on-time delivery for NAPCO each month 2) Hammer Room Improvements 20% a. Have Michael train Merlin in 1st quarter of 2012 • Tensioning skills b. Have good utilization of the Auto Tensioner • Get everyone trained properly • Start tensioning big diameter blades • Have Gerling put hrs/day running in program c. Conduct testing of the Arku unit to improve flattness

  15. Mfg #2 Objectives for 2012 3) Improve Grinding Operations 30% a. Continue monitoring daily productivity • Saws/shift/employee (wkly summary to Tim) b. Integral part of Rebuild on grinders #10 and #11 • Making sure key parts are here at proper times • Get the Arters moved c. reduce grinding wheel usage by 10% (saws/wheel) • Saws/wheel – goal= 280 saws/wheel d. Find way to speed up #7 Grinder – Polaris to change program e. Gerling Grinder output on all 3 shifts the same f. Make improvements on the Super 40 • Rebuild measuring arm • Fix the program g. Optimize grinding wheel changes – set up procedure for everyone 4) Miscellaneous Projects 10% 5) Update safety training for 2012 10% • Lock out/Tag out, etc • Work with Arc Flash training with Phil • Reduce repeat items on Ogle Safety reports 6) Control Manufacturing costs to budget 10% a. all other manufacturing costs in budget

  16. Takeaways From This: Being more proactive in helping staff achieve their objectives dramatically improves probability of success The sooner you can reward for performance the more likely you are to see performance improve That the more I can do hunting trips the more my business should improve!

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