every quarter managers should meet with their direct reports for a quarterly conversation the objective of this conversation is to discuss what's working and what's not working in three major areas core values rocks and roles so if we can imagine our direct report right here smiling at you then we have core values their rocks and their roles so 90% of what you expect of your people falls into these three categories which we call the 555 we call it the 555 because they're usually three to seven core values four to six rolls for their position and one to seven quarterly rocks the average for each area is five so we simplify it's just easier to remember 555 than 634 this is informal face-to-face one-on-one meeting to discuss what is and is not working it is not a performance review there's no form to fill out too often bosses let the form get in the way of a meaningful open and honest conversation the 555 is a straightforward easy to- remember tool to keep your discussion focused while you're meeting while there is no form you can bring and take notes during the conversation to be prepared but remember this is to be prepared not to document anything we teach having this touch Point once per quarter to ensure that you're both on the same page with essential roles make minor course Corrections towards completing the quarterly priorities your rocks and confirm your direct report still genuinely wants the position as it's defined start off by checking in with your direct report personally professionally connecting with them person to person then go through the list of core values their roles review progress on their rocks for each section of the conversation you're trying to understand what's working what's not working and what could your report do better to correct it what can you do better as their manager to do better this simple exercise each quarter will help you better connect with your people and drive Employee Engagement and accountability so that's the quarterly conversation one of the most important tools for maintaining strong and healthy relationships with each of your direct reports to start using this tool and many other free EOS tools today head to EOS worldwide.com os- tools or start your free trial of eos1 the official software for running your business on EOS at eos1 o.com [Music]