A Quote by Jack Welch
There are only three measurements that tell you nearly everything you need to know about your organization's overall performance: employee engagement, customer satisfaction, and cash flow...It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.
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No company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.
Too often we measure everything and understand nothing. The three most important things you need to measure in a business are customer satisfaction, employee satisfaction, and cash flow. If you’re growing customer satisfaction, your global market share is sure to grow, too. Employee satisfaction gets you productivity, quality, pride, and creativity. And cash flow is the pulse—the key vital sign of a company.
Without doubt, there are lots of ways to measure the pulse of a business. But if you have employee engagement, customer satisfaction, and cash flow right, you can be sure your company is healthy and on the way to winning.
If I had to run a company on three measures, those measures would be customer satisfaction, employee satisfaction and cash flow.
When I ran a small IT services business in the 1990s, it had strong recurring revenues - yet I couldn't accurately forecast cash flow for even the next few quarters. Small changes in the customer base or losing/hiring a few key employees could create massive swings in cash flow.
Many corporate leaders and employees have the right intentions, but it can be overwhelming when you consider how everything is affected from leadership styles, to organizational structure, to employee engagement, to customer service an marketplace.
Profits are related to customer retention. Customer retention is related to employee retention. Employee retention may or may not be related to benefits, but benefits could be part of the package that causes people to stay and -- by the way -- engage in discretionary effort. .. If you go into any organization that's customer-facing, you can tell in five minutes when the employees are feeling abused. They retaliate on the customers.
I think it's impossible to tell your coach and tell your players, 'Try not to win.' That goes against everything an organization is about.
If your cash is about to run out, you have to cut your cash flow. CEOs have to make those decisions and live with them however painful they may be. You have to act and act now; and act in the best interest of the company as a whole, even if it means that some people in the company who are your best friends have to work somewhere else.
In business, the idea of measuring what you are doing, picking the measurements that count like customer satisfaction and performance... you thrive on that.
Remember that, in the end, the customer doesn't know, or care, if you are small or large as an organization - she or he only focuses on the garment hanging on the rail in the store.
You need to run the company on an even keel, and you need to be thinking about the company long-term and how to drive your next innovation.
In a well-run tech company, small, elite groups who have ownership in the company are given the freedom to define and achieve their tasks in line with a broader mission that they have internalized as their own.
Rationality and the instinct of collaboration have already given us large regions and long periods of peace and prosperity. Ultimately, they will lead us to a planet without countries, without wars, without patriotism, without religions, without poverty, where we will be able to share the world. Actually, maybe I am not sure I truly believe that I believe this, but I do want to believe that I believe this.
A true entrepreneurial enterprise begins with a big idea - a unique way to solve a customer's problem. Your customer, after all, is the only justification for creating a company in the first place. Without a big, transformational idea, you can't produce a great result for your customer.
Products, profits, and paychecks are not enough anymore. These days, society cares how you treat your own workers. Customers want to know you promote the same values inside your walls as you do outside; job hunters want to know you care about them before they send in an application. Your culture is your brand. You need to create an organization where your employees believe in what you do.
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