How Important It Is To Give Attention To Others

Increasingly, corporations are looking for companies that care as much about their employees' well-being as they do about their bottom-line profits. Of the several firms I interviewed, Marriott International stands out as the epitome of a people-centric corporation. "If we take care of our staff, they will take care of our customers, and the customers will come back" has been the company's purpose since its humble origins as a nine-seat root beer stand in Washington, D.C. to its present worldwide Fortune 200 position.

Consider the company's past: Just a few years after J.W. and Alice Marriott established their business, the Great Depression hit. Consequently, JW and Alice hired a full-time physician to guarantee that their employees were well-cared for. This was due to two factors. They cared about the health of their workers and wanted to ensure that they had a solid team. They firmly thought that their customers would receive the kind of service they sought if their employees had access to high-quality medical care.

Marriot's people-centric strategy has been able to withstand some of the societal pressures that may have hampered its growth. Increasingly, shareholder wealth has taken precedence above employee well-being since the Journal of Financial Economics published "Theory of the Firm," which said that firms are ultimately owned by and accountable to their shareholders first and foremost. In both enterprises and communities, this move has had a profound effect, but the "shareholders first" approach has two key drawbacks. The first is a concentration on short-term gains at the expense of long-term advantages. The second problem is a lack of interest in social responsibility by corporations. In both cases, the typical employee pays a price. This is in direct opposition to the purpose of building people first organizations.

Unlike other hotel chains, Marriott places people's well-being above short-term earnings. The effectiveness of Marriott's people-centric strategy can be observed in the everyday dedication of its executives to ensuring that the organization lives true to its founding principles. The daily dedication of Marriott's management to ensure that the business lives up to its founding ideals is best demonstrated in the success of its people-centric strategy with over 6,000 locations and approximately $23 billion in yearly sales.

They go about it this way.

Cultivating Leaders Who Are More "Human"

86-year-old Executive Chairman Bill Marriott makes his way to the ground-floor cafeteria of the Bethesda, MD offices every day at noon. He takes a tray, chooses a lunch, waits in line, and pays for it like any other employee. Invite anyone who wishes to join him for lunch after he selects a table. Because of his position as chairman of the board and one of America's wealthiest individuals, Bill refuses to be treated differently. For lunch, he dresses in the same way he does for board meetings: informally. Rather of relying on authority, he demonstrates inquiry, presence, and concern for his colleagues and clients.

It's no surprise that Bill Marriott's management style has permeated the company. Remember, the culture of a company begins with its CEO. Marriott CEO Arne Sorenson, who took Bill's lead, travels to Marriott hotels throughout the world 200 days a year to meet with employees. There are no written town hall meetings, either. Each hotel's front desk, kitchen and guest room floors are all greeted by him as he makes his rounds. In order to understand them, he pays attention to their thoughts, studies their concerns, and makes an attempt to actually comprehend their job. As a consequence, he is able to embed Marriott principles in every Marriott team leader and employee worldwide.

As a result of this style of modest leadership, employees are more likely to put up their best effort and stay on board. These improvements contribute to improved customer service and a more positive customer experience, both of which lead to increased revenue. According to Marriott's own internal statistics, hotels with a higher level of employee participation had a better financial outlook.

There Must Be A Judicious Distribution Of Power Among All Stakeholders

A meeting of Marriott's top executives took place in 2008 to discuss the rapidly worsening business conditions. Marriott, like many other companies, is looking at ways to save costs, including by cutting the number of hours its employees work. It was pointed out at the conference by Marriott's Chief HR Officer, David Rodriguez, that reducing workers' work schedules would result in many losing their healthcare insurance. Bill Marriott, CEO of Marriott International, stepped in to assist them sort out the consequences. This would necessitate the suspension of the eligibility requirement, he explained. Employees and their families can't be left without medical insurance.

When it comes to Marriott's long-term strategy, balancing the interests of its shareholders, hotel owners and consumers as well as its employees has always been a priority. Employees devote a significant portion of their time and energy to working for the company. Thus, they become equal stakeholders who should be taken into account in all important decisions. Every time a decision is made, a set of stakeholders will be unhappy with it. When fairness and honesty are consistently demonstrated, stakeholders will trust that their engagement will benefit them in the long term.

Prove Your Commitment

A company with a strong focus on its people values the satisfaction and well-being of its workers. Catchphrases and slogans alone won't cut it; initiatives designed to boost staff morale must also be put in place. Employees who begin their careers at Marriott are a source of tremendous pride. All of Marriott's senior executives and property managers started out as waiters or front-desk clerks.

However, in a people-centered company, success is more than just a promotion or a raise. The Marriott CHRO has gone above and above to show its dedication to the well-being of its employees. The first "holistic employee well-being program" was created by David Rodriguez and his colleagues at the company. The Psychologically Healthy Workplace and Organizational Excellence Award of the American Psychological Association was granted to the program in the year of 2018. As predicted, Marriott was the only big competition to offer its employees additional cash in retirement accounts and substantial spending on new career development and work-life support programs as a result of the 2018 tax cuts. An industry-leading parental leave policy that includes both births and adoptions has also just been revealed by the corporation.

Prioritize Humanity

When a company's success depends on its personnel, people-centric business leaders acknowledge this fact. When employees feel appreciated and cared for, they are more driven to work, have a stronger sense of purpose, and are more engaged. These organizations realize this. For the sake of helping a firm that cares about them, they go above and above.

There's no denying that it would be wonderful if developing this sort of culture were as simple as creating a few catchy slogans or aspirational principles. That would mean that every business will appear on lists of the "best places to work. But it's not as straightforward as it seems. It's not about turning value statements into eye-catching posters or motivational websites. We must take action instead of waiting for someone else to take action on our behalf. Leaders need to be taught humility and compassion, and that's the key. All about building programs that encourage growth and well-being at work and at home. The task at hand is unquestionably difficult. However, it's not as complicated as it seems.

To find out more information about businesses like this, please feel free to contact:

Hanold Associates LLC

1560 Sherman Ave, Evanston, IL 60201

(847) 332-1333