Jack Welch, Business Tycoon and Enterprising Leader, summed up the essence of corporate success:
“There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction and cash flow… It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.”
People. People. People. We depend on them. We serve them. They help us grow – or not. Our 21st century competitive environment is no longer limited just to the company across town or even just one state over, but encompasses the entire global playing field. Savvy companies understand and embrace the necessity of fully engaging their People in ways designed to cement their loyalty – getting their hands and hearts – working collaboratively. Gone are the days when people choose one company to remain with for their entire careers – only to receive a pension and a clock at retirement. Today’s global leaders need more from their work. If you intend for them to stay, understand that they seek to contribute and earn. They want their work to be meaningful, measurable and memorable.
Companies have options. There are multiple ways to keep highly sought after talent engaged and passionate with their work. Not only is engagement good for the person, the employee – it is essential for the company’s success. While companies keep the main thing, the main thing, their people can ensure their customers are happy, which in turn creates profits – and WINNING in the marketplace.
In examining these 3 ways to WIN, understand this list is merely a tipping point. Allow it to serve as a catalyst, a springboard into the waters of opportunities for companies, along with their People, towards your WIGs (Wildly Important Goals) & BHAGs (Big Hairy Audacious Goal).
Intrapreneurship: Engaging their Creativity
An Intrapreneur is One who works WITH their employer to create or expand a line of business that is designed to add revenue to the company – and the employee. Innovation, Creativity and Passion drive this person. Their contribution could flow out of their desire to correct flawed processes for better customer service; or, it could look like an additional product or service offering that current customers inquire about often. It could also be suggestions and/or ideas that would greatly increase customer loyalty and increased spending. These are among the ways savvy employees desire to contribute. They are willing to give themselves to their current full-time jobs, as well as devote extra time and energy to creating something special and beneficial. Who knows, perhaps your employee/s could create the next “Gmail” or “Post-It Notes,” both products of intrapreneurship.
Community Philanthropy: Engaging their Hearts
Sharing is an essential skill that is cultivated and developed from childhood. Its impact does not lessen as One matures, rather just the opposite. It increases with time and understanding of gratitude. Given the opportunity, most people would raise their hands – as an extension of their hearts – to help out their community. When given this opportunity by their employers, the numbers would be even higher, as much as 99% of the people would say yes. Why? It is human nature to give, just as much as it is to receive. A life well lived is not segmented. Being able to express their philanthropic aspirations is important to employees. Savvy companies recognize this and understand how giving, even a little, can produce bountiful harvests. As the saying goes, “ain’t nobody happy unless mama is happy,” is just as applicable as related between companies and their employees. When employees are happy and fulfilled, they perform better, loyalty is cemented and in turn, customers are satisfied and loyal.
Recognition: Engaging their Commitment & Loyalty
The power of praise can be tremendous. Even though employees are paid to do a job, it is still impact, invigorating and encouraging to receive recognition and appreciation. Being appreciated for how well One performs or improves helps to create a bond of trust and loyalty. Of course, the most obvious method of appreciation comes in the form of compensation, there are many of other ways that can satisfy the need. How about a gift card for a coffee or lunch? These are small examples that can go a long way. Extra time off, paid parking (if applicable), company swag, a highlight in the company newsletter or email, or a ceremony to receive a certificate or plaque – these are all simple ways savvy companies can engage the commitment and loyalty of their best people. Since their people are one of their greatest assets, savvy companies understand the benefits (and rewards) that can come from investing in them. Implement these strategies in your organization today and become a Savvy Company who WINS with their People – both internal and external.