Financial Daily from THE HINDU group of publications
Wednesday, Dec 11, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 11, 2002 |
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Corporate
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Management Respect emotions, Gallup book tells cos Our Bureau
BANGALORE, Dec. 10 WHILE companies across the world fight to survive in weakened economics and struggle with questions about ethics and leadership, a new book about what the world's greatest organisations have in common will strike a reassuring chord and offer clear-cut, practical advice for moving forward. Follow this path: How the World's Greatest Organisations Drive Growth by Unleashing Human Potential by The Gallup Organisation Path Leaders, Mr Curt Coffman, Mr Gabriel Gonzalez-Molina and Mr Ashok Gopal, shows how companies have proved considerably their revenue growth rate and their earnings growth rate by managing customer and employee engagement, the real drivers of sustainable growth. The book says that great companies recognise that people are driven first by emotions, and therefore must become emotionally engaged with a company to either work for it or buy from it. This new order is termed the `emotional economy'. In it, companies, and those who run them, must learn to recognise their employees' strengths and use the workers to connect with their customer on an emotional level. The authors, who are top Gallup executives, say: "Great companies know that tapping the resources of humans is the only remaining area where significant improvements can lead to an unlimited source of competitive advances." In an age when pricing power has all but collapsed and customers can compare products at the click of a mouse, it may be the only front on which forward strides can occur. The book outlines a 10-step path to emotional engagement using 11 principals that the company calls CE11. These eleven steps, done in a specific order, will supposedly create superior performers. Some of the points highlighted in the book about the companies that follow the Gallup Path and use the CE11 are that talented individuals placed in the right role produce better results than ordinary employees; engaged work groups cost significantly less than their non-engaged customer counterparts and account for the lion's share of growth and profits, and unleashing human potential yields dramatic increase in the return on investment in a short span.
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