I wanted to share with you an article in Chief Executive magazine written by Rick Davis, CEO of Elliot Davis, a CPA firm headquartered in Greenville, SC.
I don’t know Rick nor his firm yet the article he wrote sang to me. He discussed how to create an employment culture of longevity and stability. While my 35th year at Smith Brothers makes me somewhat biased towards Rick’s philosophy, I do understand the need for employees or employers to make decisions to part ways. If the employee and employer aren’t aligned in values or expectations or opportunities for the future, it is often healthy for them to end the relationship.
I do always reflect, however, when there is a parting of the ways, what went wrong? Most often, at least one of the needs wasn’t met. I see a huge benefit to the business and in healthy relationships – it’s a win/win – when it works well – the pie gets bigger for all. Team continuity is great for all stakeholders – and both employee and employer needs have to be met.
Rick shares five principals he has learned and now practices within his firm to help foster environments where employees want to stay:
- Great People. We have noticed most of our recruits come for current great people – I believe, “great people beget great people.”
- Ambitious About Their Employees’ Success. Through our Employee Development Plan (EDP), we strive to get deeper on motivators, needs, personal and career goals, and removing hurdles so our team members and the company can get to a place where needs are aligned, a plan is set, and we work together to achieve success. We know if an EDP is done right, we are servant leaders, and the success of the individual will align to the success of the greater good. We have claimed EDP process FINAO (failure is not an option) because we are ambitious for the success of our people.
- Listen to Your People. Our EDP process, in and of itself, is a platform designed to have team members have a voice, advocate for themselves, and communicate their needs and motivators. Our managers are trained and encouraged to ask and listen and work to get to alignment.
- Ask Why You Lost Someone. When we lose a team member, we immediately get together as a team and debrief. We review the EDP and discuss what went wrong and what went well. This practice has helped us work to design a Competency Based Hiring process so we start from targeted recruiting to effective interviewing to onboarding to development and ongoing EDP alignment check-ins. We also use our learnings to develop trainings to help others learn what went well and what didn’t go well. Somewhere something went wrong for there to be a hire that didn’t work out. It is our responsibility to understand it and do better. This is a continuous improvement process and takes a lot of investment and time, yet we don’t see people as transactions. We see them as people- people working in a for-profit company- and it takes care and work to align and grow together.
- Senior People Telling the Story of the Company. I find this to be such a key factor in our culture. It is amazing to see the new generation of emerging professionals join, develop, and grow here at Smith Brothers. I notice their experience is not only more fun and invigorating with the veterans around, the probability of success sky rockets when the senior people and the emerging professional engage. I find the magic is in the knowledge and experience exchange from senior to emerging and in the hope and growth mindset energy from emerging to senior. The big purpose and core values have trouble being overthrown when there is enough history there for solid foundations needed during turbulent times and for there to be a principle centered base for emerging professionals. We find the emerging professionals understand the value of having access to senior people who practice our Help Others big purpose in their mentoring and implied leadership.
We are not perfect and are committed to the work to continuously learn and get better. I know our Values of Trust and Respect will foster an environment for people to grow in the way they need in their career with us. I know our Value of Creativity will keep us fresh and idea driven while holding to the foundations of being people focused and principle centered. I know our Value of Fun will create laughs which adds joy and therapy all at the same time.
If we grow as an organization and stay people focused, there really isn’t a reason why our team members need to find another place to grow or meet their needs. We won’t make 100% of our shots yet we will be better every day. The rewards are worth it – as Rick Davis says, if we are successful in creating such a place, “I suspect business growth, success, joy, and camaraderie we experienced would feel absolutely revolutionary.”
Be Sure.
Joe