Wednesday, April 4, 2012

Growth Summit - Jack Daly

These are my notes from Jack Daly's presentation at the excellent Growth Summit I attended recently.

1. Your company's goal is to create a culture where people 'get to' go to work at our company rather than 'have to' go to work at our company. We want people to prefer being at work than at home.
2. What are we doing to win over the hearts of our people?
3. How does your companies culture smell? Do you have a culture by design or a culture by default?

The one thing you can't delegate. As a CEO, defining and encouraging your companies culture is your most important job.

10 year study:
1. Revenue in culture focused companies 4 times higher than non-culture focused companies.
2. Stock prices up 901% for culture focused companies v 74% for non-culture focused companies.
3. Net income up 756% v 1%.
4. Job growth up 282% v 36%
Source: John Cotter

Culture by design - 4 parts
1. Recognition systems
Suggestions from Jack:
First day - "Welcome" on the white board, streamers, cards and balloons.
Birthdays - handwritten notes sent to team member's homes
Company anniversaries - celebrate when team members started
Handwritten notes - "You did a kick ass job, well done"
PSR - Planned Spontaneous Recognition when good things happen.
"Caught in the Act of Greatness" - a peer to peer certificate employees can give to employees.
"Out of the Box" Awards - people will do the things they're recognised and rewarded for.
Associate of the Month - Quarter - Year
Ring the Bell - Anyone can ring the bell for any reason when someone does something well.
Contests - sales people in particular engage well with contests. Daily, weekly, monthly. Eg. Flight Centre do this well.

2. Communication systems
Vision sharing
Daily huddle
Monthly announcements
Email announcements
Annual 'State of the Company'
Orientation for new team members
Key financials sharing

3. Personal & professional development
1. Hands-on coaching
2. Role practice
3. Success guide

4. Empowerment process
Employees can make decisions but should ask:
Is it right for the customer?
Is it right for our company?
Is it ethical?
Is it something for which you are willing to be accountable?
Is it consistent with our company's basic beliefs?
If the answer is 'yes' to all 5 questions, just do it.

People don't care how much you know until they know how much you care.

If you put fences around people, you get sheep. - CEO 3M

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  1. Some of these are just bad. The worst of them:
    First day - "Welcome" on the white board, streamers, cards and balloons.
    Birthdays - handwritten notes sent to team member's homes

    Companies trying to pretend they care about people's personal lives is just naive. People don't care if a company cares about their personal lives either. People want to work for companies that inspire them. They want to work somewhere they feel like they're making a difference. They want to work for companies that have an awesome environment.

    I would love to work for Facebook, Atlassian etc because those companies inspire me and provide an awesome environment. I don't care about a token birthday card.

    Just my 2c.

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