Be specific with your values if you want to stand out
Dom Monkhouse developed the UK divisions of the web-hosting businesses, Rackspace and Peer 1. His primary goal has always been to boost an organisation’s total revenue, which depends on having an engaged workplace. He also believes companies need to be explicit about their values in order to stand out.
In this three-minute clip from the 2017 Happy Workplaces CEO Conference, Dom explains why this is so essential and why not doing so means an organisation will just end up being beige.
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By Dom’s calculations, if employees put in 60% of effort, it’s enough to not get fired. So just imagine the benefits of a wholly engaged staff with everyone putting in a further 40%.
“The Sunday Times Best Place to Work, having spoken to them some years ago, they said, ‘if you can get staff to feel engaged they’ll work 30% longer hours for 5% less pay and be happier than the people who aren’t engaged.’” Dom says.
He set about devising ways to encourage this extra 40%, realising that authenticity was key. “You can’t make people do it, they have to want to do it,” he says.
Another significant discovery was to be explicit about company values. “Quite often I’ll sit down and talk to people about values and they’ll say ‘integrity’, and you can’t have integrity as a value. Not that you shouldn't have integrity, it’s just that nobody could pick the opposite of that as a competitive value.
"You couldn’t go to market and say, ‘We are the company with no integrity,’ so don't say you are the company with integrity – or honesty or teamwork or efficiency – because none of your competitors are going to say anything different.
"You end up being beige. You end up just sounding and looking like everybody else.”
Click here to see more videos from the 2017 Happy Workplaces CEO conference
Learning Nuggets from Dom Monkhouse, a two minute video from the Happy Workplaces Conference 2014
The Happy Manifesto by Henry Stewart – click here to get your free eBook, full of great ideas for creating a happy workplace
Happy Workplaces Have Lower Costs, a blog by Henry Stewart about how happy workplaces not only earn more, but have significantly lower costs
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