The healthier the family, the stronger the business. Leadership is not just for work.
A family business’s success depends primarily on its people and their ability to lead — to make conscious choices that are aligned with the values of the organization and with their own core values. As the requirements for running a successful family business have changed, so have the approaches to developing family business leaders. The InnerWill Leadership Institute teaches the necessary skills to strengthen leadership capabilities and drive results, through the practice of Values Based Leadership (VBL). We also specialize in succession planning for family construction businesses.
“Research shows family businesses that make their values explicit and measurable, and incorporate them into strategic plans, see better returns and greater longevity.”
InnerWill Family Business Impact
Your values matter when it comes to leadership.
Born out of Luck Companies, InnerWill was founded to teach other families and family-held businesses how to build values-based organizations which ignite the potential in people. After an 85-year history as a successful family-held business, President and CEO Charlie Luck IV realized that the business had so much more potential if alignment and collaboration of senior management could be improved. This led to a Values Based Leadership journey — for his family and for the workplace. As a result, Luck Companies is the largest family-held and family-run aggregate business in the country, ranks in the top three most engaged places to work in the US, and is a thriving organization built for the future. Luck Companies is currently led by its 3rd generation Luck family member. We know first-hand about Succession Planning for Family Construction businesses.
“We recognized several best practices in our study of 100-yr family businesses, and the first is a foundation of shared values. A family business begins with a strong sense of mission and values. To attract succeeding generations to become part of the enterprise, each generation must renew their values and mission to make being part of the effort meaningful to the emerging generation.”
Benefits of Increasing Employee Engagement
Imagine you are the chief executive officer of a start-up. You will have an immense desire to see your business grow. You will be ready to use every waking moment of your life to further your company’s fortunes. Now, imagine the same enthusiasm in every employee under you.
It would be a wonder if your business did not grow by leap and bounds!
It is not a tale out of a cloud cuckoo land. It is a scenario in every company with a sound knowledge of employee engagement.
Put, an ‘engaged employee,’ is the one who loves the job and company they work for. They are the ones who will, without hesitation, go that extra mile so that the company benefits. Having such a workforce accrues you many advantages.
1) Higher employee satisfaction
Employee satisfaction is one of the many results of employee engagement. If an employee is not content with the work, their interest in their daily tasks will wane. It leads to poor-quality work, lesser end-customer satisfaction, and fewer sales.
2) Increases productivity
Engaged employees work harder and with enthusiasm. They love the job they do and identify the company’s interests with their own. Engaged employees even train themselves during their free time to increase their productivity. To rope in numbers, engaged employees are 17% more productive than those who aren’t, a report by Gallup says.
3) Prompts employees to report to duty
Illnesses or other untoward incidents are valid reasons for being absent from work. If, however, an employee takes leave often, it means that they are not engaged. On the other hand, engaged employees are responsible and reliable. They report to duty diligently and inculcate among colleagues a similar work culture.
4) Increases the quality of work
Engaged employees are more efficient than others. They are regular to work, open to new ideas, and obsessed with self-improvement. Such employees are always on the lookout for ways to improve the quality of their work. Mid-level employees of this ilk train recruits to achieve the same efficiency.
5) Improves retention rates
According to a Gallup 2017 report, 51% of all employees want to quit their current jobs. As for a company, this means more expenses in the form of recruitment and training. The more a company retains its experienced staff, the lesser the amount spent. One way to do so is through employee engagement.
6) Inculcates positive thinking
Engaged employees bring about a positive aura to the workplace. And positive thinking in an engaged employee is contagious! Such employees easily pick up lessons and implement them at work. Disengaged employees are inactive and uninterested in learning.
7) Improves staff-customer relationship
British business magnate Richard Branson once said employees came first, not the clients. “If you take care of the employees, they will take care of the clients,” he said. Engaged employees are positive about work, enthusiastic about deadlines, and competitive about improvement. Remember, happy employees, deliver the best results.
8) Increases profitability
Engaged employees strike a balance between company policies and customer satisfaction. Every satisfied customer naturally becomes an inadvertent advertiser of the company. They will recommend the services or goods of the company to their immediate contacts.
9) Promotes employee advocacy
When an employee is proud of their work, they will become beacons of company goodwill. They recommend the products or services to their family and friends. In this age of social media, such recommendations go far and wide.
10) Helps employees find flow
Payment matters but love for what one does matters more. Some employees consider work as worship. An engaged employee is not worried about office intrigues or scheming bosses. They have their internal values aligned or adopted to the core values of the company.
Are you looking to Increasing Employee Engagement in your team? Get in touch with us now to know more!