There really isn’t much difference between what business owners and employees want to get out of work. Fundamentally they both want what they earn to help them provide for themselves and their families. So why shouldn’t owners or business leaders treat employees more like owners?
Jeff Rowe, President and CEO of Q Laboratories believes that if business leadership adopted this philosophy, business performance would exceed expectations. The value of employees to a business is greater than you think.
WHAT YOU’LL LEARN FROM JEFF ROWE: Q LABORATORIES
YOU SAY THAT YOUR PRINCIPLES OF MANAGEMENT ARE REVOLUTIONARY, WHAT DO YOU MEAN? (1:44 in)
In Jeff’s words – Harkening back to an age in American businesses where everyone in the enterprise was able to take value from the company and win together. These days most businesses are focused on quarterly results and financials and not so much on developing people. I’d like to see more companies getting back to sharing the wealth of the company with all of their employees.
Insight – Developing a vibrant culture built on trust is critical to achieving top financial performance in order to share the wealth with employees.
WHY DO YOU BELIEVE THAT PEOPLE ARE MORE VALUABLE THAN THE PRODUCTS OR MARKET? (3:22 in)
In Jeff’s words – Developing a different culture where everyone feels like they’re part of one team and everyone’s lined up behind serving the customer the best way possible is really the key.
Insight – Sales are based on relationships. If people work in concert rather than at odds with each other unanticipated results can be achieved.
TO MAKE EMPLOYEES FEEL MORE VALUABLE, HOW DO YOU DO THAT? (5:05 in)
In Jeff’s words – It starts with recognition, finding excuses to celebrate and thank employees publicly in front of their peers for doing the little things that help you make money and win new clients.
Insight – This is particularly important at the lower levels of the organization. Being transparent about the company’s financials and giving them monetary incentives beyond a salary are vital having them offer solutions to problems and ideas to improve company performance.
CAN YOUR MANAGEMENT TEAM BE UNDERMINED BY ENCOURAGING EMPLOYEES TO SEEK ADVICE OR HELP FROM ANYONE IN THE BUSINESS? (6:58 in)
In Jeff’s words – If your senior team isn’t committed to creating and maintaining an open environment. You don’t want people to be afraid to approach management for fear they are going to be ridiculed or ignored.
Insight – Make people trust you and they’ll tell you what needs to be done to make the company better.
HOW DO YOU GET EMPLOYEES TO RESPOND SO POSITIVELY TO TAKING ON ADDITIONAL WORK OR OVERTIME? (10:32 in)
In Jeff’s words – If you truly want your business to perform at its peak potential, then make everyone in the company feel like an owner.
Insight – If the incentives you provide make them feel like an owner, they’ll be instrumental in pushing out underperforming employees and offering ideas to improve business performance.
WHY WOULD YOU RATHER RELIEVE EMPLOYEES OF THEIR JOBS WITH BAD ATTITUDES RATHER THAN WORK WITH THEM TO IMPROVE? (13:02 in)
In Jeff’s words – You can spend a lot of time and energy trying to take somebody who just doesn’t have good work habits and train them to work hard or who has a sour attitude and flip that to positive. While you’re spending all that time on that one person out of ten, you’re ignoring the nine people who are working hard and displaying the kind of attitude you would like to recruit into the company.
Insight – In hiring, screening for cultural fit is more important than screening for skill set, even at the senior level. Consider ranking your employees every year to ensure that under performers aren’t hiding in your organization.
WHAT PRIORITIES SHOULD YOU HAVE TO RUN A COMPANY SUCCESSFULLY? (17:36 in)
In Jeff’s words – Gather a great team around you. Get them in the right spots. Set the direction for the company and then get out of that great team’s way.
Insight – Focus on strategy, coach your team, don’t micro manage.