Sustaining Results: Balancing People, Values and Business

©2005 Patsi Krakoff, Psy. D., CBC

In the last few years several books have addressed why some companies are more enduring than others. What distinguishes the great from the merely good?

 

Really great companies, even in bad times, place people and values first. The obsession with stock prices has obscured our vision and caused companies to lose their way. The current economic shake-up will cause them to find their way again, or sink. The link between people and the bottom line is becoming clearer.

 

A focus on treating employees with warmth, dignity and respect pays off in how customers are treated and consequently in how the business performs.  

 

As Herb Kelleher of Southwest Airlines is fond of saying, "We put our employees first, our customers second, and our shareholders third. In that order it works and out of that order nothing works."

 

As we continue into this new century with new uncertainties, companies will need to draw on the full creative energy and talent of their people. Why should people give full measure?

Confronted with an increasingly mobile society, cynicism about corporate life, and an expanding entrepreneurial segment of the economy, companies need to have a clear understanding of their people and values. They must make work meaningful and thereby attract, motivate and retain outstanding people. There must be a balance with people, values and business in order to create sustainable results.

 

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