I have the privilege of serving as a board director of The Forum: Business Results Through People. The Forum, affiliated with Northwestern University, is an organizational trust for thought leadership advocating that the most effective way business leaders can create and sustain organizational value is through their partnership with people. The Forum promotes a people-centered leadership approach by: providing relevant, provocative, and actionable academic research; creating a platform for leaders to dialog, network and benchmark practices; delivering ideas for practical action and experimentation; and, building and supporting a community of champions for people-centered leadership.
The Forum held its annual Think Tank in October and I was joined by like-minded business professionals to hear and discuss the latest research related to people-centered leadership. Two of those attendees were PPAI members whose businesses have an employee engagement and enrichment focus: Jay Donlin with Newton Manufacturing and Hillary Feder of Hillary’s. I asked Hillary to share her thoughts with Connections readers:
Attending the Forum Think Tank last month was a real eye opener to this engagement consultant. “The Enrichment Experience: Engaging Minds and the Power of People in the Workplace” was filled with insights. Bottom line: The industrial age is gone and product patents and technology are the key success factors. Today, technology has made the playing field more level than ever, making the key to company performance unquestionably people.
What does this shift mean to business leaders? A shift in management practices to connect people authentically and with purpose. Why? Because when people’s lives have meaning, they are driven to create amazing results. The kind of results that have enabled Nick’s Pizza and Pub (a two-store restaurant in Illinois) to outperform the entire pizza industry in several areas of operational excellence:
- Slashing turnover from 200 percent to just 20 percent
- Saving over a quarter million dollars annually in recruiting and training
- Generating a net operating profit of 14 percent compared to its industry average of under 7 percent
My colleague and past Forum Think Tank participant, Paul Kiewiet, MAS, details how Nick’s is managed in an article well worth the read. Explore the power of performance-review-in-the-moment instead vs. the limits of an annual performance review. Learn how “trust and track” empowers employees to solve, create and produce vs. the restrictive “command and control.” To learn more check out Creating Greatness Through People and Purpose in PPB January 2012.
Great insights! Thanks for sharing your insights Hillary.