Market Basket and the struggles they recently encountered highlighted the importance of workplace dynamics, specifically employee engagement.The short of it is that a new CEO took over at Market Basket and planned to cut employee profit-sharing in order to increase dividends to shareholders. This did not go over well with the employees.
It seems that what the new CEO didn’t get was that his predecessor had created a workplace culture that engaged employees, resulting in serving the customer well, providing value for the customer and a memorable experience. This model had benefited the customers, the employees and the shareholders for years. When the system was challenged, the employees expressed their concerns and their customers rallied behind them. Most see this as a collective voice of the modern worker that wants to feel connected with the service they are providing.
Employee engagement is a key part of delivering great customer experiences and businesses that have actively engaged employees perform better across the board. Unfortunately, it is estimated that only 3 out of 10 employees feel engaged with their work, and the actively disengaged employees cost $550 billion in lost productivity.
The best 100 companies to work for outperform the rest of the businesses by a wide margin.
Best 100 11.80%
S&P 500 6.04%
Russell 3000 6.41%
Source-Russell Investment Group
According to Robert Levering, the curator of the list for Fortune: 100 Best Companies to Work For, the businesses that make this list all share a culture of trust and the employees describe the environment as a team or family.
The thing is you can’t create this culture of trust, team or family by just using the language. And it can’t be created with a Mission Statement. It can be found when applying design to business, service and experience.
Employee engagement is the natural by-product of businesses Designing for Adoption where both the employees and customers are considered. The other natural by-products are great customer experiences and increased profit for shareholders.
Designing for adoption requires considering all stakeholders –customers, employees and shareholders. This is Triple Bottom Line Design, where something better happens for all stakeholders.
Market Basket may not have intentionally set out with a Triple Bottom Line Design but they ended up with the positive outcomes associated with this strategy. Connecting employees with the delivery of great customer experiences results in value for all stakeholders.