Do you have the emPHAsis on the correct syllABle?

 Throughout my career the primary performance measurements have revolved around the sales and profitability of the products and/or services that were being offered.  Whenever we considered an acquisition of a competitor, we focused on the level of additional positive impact that purchase would make to these two components.

Investors typically focus on the ROI and growth potential of targeted companies.  The financial analysis drives the price that the investor is willing to pay or the value of the share price.

Virtually everyone in a role that earns a bonus it tasked with achieving certain financially based objectives.  Stock options for executives are likewise driven by the achievement of these goals.

The reason for the reliance on these types of performance metrics is because they are: a) easy to establish and measure and b) something that is objective, and not subjective.  It becomes a binary discussion.  Either you met/exceeded the goal or you did not. Hence the saying ‘…take care of the nickels and dimes and the dollars take care of themselves…’

I want to propose an alternative PRIMARY focus. Let’s change the emPHAsis to a different syllABle.

First allow me to rephrase our old saying to ‘…take care of the ladies and gents and the results take care of themselves…’

For too long we have neglected to have a ‘people first’ mentality.  The assumption has been that if we have a viable product and a great strategic plan, the rest is simply implementation.  And with a work force to choose from that is in the tens of millions, how difficult is it really to find the needed resources?

But the best companies have recognized that the primary emphasis must be the people it employs.  They have adopted the motto ‘…doing the right thing by the people is doing the right thing for the company…’

These companies have invested as much in culture as they have in research and development.  They value the recruiting, training and retention of the best people on an equal footing with product marketing. They understand that growth flows from within the creativity of the workforce at least as much as the foresight of the CEO.

A quick analysis of the Fortune 500 shows that 60% of the top 50 companies in 2000 no longer occupy that spot.  In fact, several of them no longer exist.  The products and services that they offered are still being successfully sold by others.  Is it possible that the people in the ‘survivors’ are the principal reason for their success?

As we gradually return to ‘normal’ in a post pandemic world, does your culture need a vaccine as well?  Should you look the change the emPHAsis to ensure that your focus is on your people more than the numbers? It may take a leap of faith on your part…

Let me assure you that it can’t hurt and that the change may be far more productive than you assume!