Key to a Great Business

A chief of a company in the Colorado area granted an interview to a friend's son, a graduate business student, planning his thesis. The young man asked questions about marketing, budgeting, and the most beneficial market techniques. The talk and questions also including business hurdles and challenges, protecting assets and the problems and practices in increasing sales. The CEO confessed that managing a firm's long-term reserves had always been at the core of his energy and determining stakeholders was instrumental. Weighing options in every aspect was his solution to the question about best decision-making practice. The 60 minute interview was almost over when the graduate asked his last question about what was the biggest liability and what was the greatest asset in the company. After bumbling through a list of financial jargon, the CEO stopped unexpectedly and thought carefully before saying that all of that was secondary because the employees could be the greatest asset or they could be the greatest liability. The folks working for you can make or break the company. Simple as that. The CEO then took our friend's son out to lunch and they continued to dialogue. The conversation included examples from the CEO's working experience when he worked at a restaurant through college and when he managed various establishments. He had many examples of how good workers actually made the company money and the managers and owners did not always know it or recognize it. At the same time, a impolite or incompetent or an employee with a bad attitude could ruin not only the sale at the time, but later. They talked about the television show Undercover Bosses where CEOs pretend to be new employees on the ground level for a week to actually get some in field experience and insight. The CEO confessed that he had thought of doing that. The two of them throughout lunch talked about different episodes and came to the realization that employees do make or break a company. And usually what they want most even more than money or raises is to be dealt with respectfully and to have their efforts acknowledged. They want a thank you of some kind whether it be just a sincere thanks, a gift card, money, a promotion of a gift. The graduate shared that his mom who had been an administrative assistant had just resign her job the week before saying she had just had enough. Her boss not only did not see what she had done but did not seem to care about rewarding anyone. When she suggested he give gift cards he said that was fine but she would have to give them and write the note and he put her on a small budget. After a year she suggested they give time off to employees but he refused saying. She realized morale was really low and he did agree and she was to come up with something. She told him to come into the next morning meeting, which employees hated, with food. He told her to get some cheap donuts from the grocery store. She started just standing up to him and said no, he needed to spend some bucks and get quality pastries or food and quality coffee boxes from the Panera Bread down the street. He delegated her to do it and to be sure it was there on time. It worked and employees liked it. She needed a totally different idea for the mid afternoon meetings. So when she saw the huge basket delivered next door with all kinds of treats for employees she was impressed and contacted the basket company, Baskets by Rita. For the same money they put together a large basket with goodies to put in the break room for everyone to enjoy. It was huge and they delivered it to her that day. The boss walked in with the Chocolate and Coffee Gift Basket and there were cheers from the once tired employees. The student made an appointment the next day with his adviser to change his thesis topic to center on the importance of appreciation and acknowledgment for employees contending that they are the most valuable long term investment.