How to Be a Successful Company - ride out the " credit crunch "

With the current economic climate ( almost daily warnings from the banking sector ) it is even more important to think about how to be successful and how to judge success. Short term may be about Cash flow, costs, and efficiency though any decisions taken here must be balanced against longer term impact on Customers and Employees
According to the annual “Sunday Times 100 Best companies to work for “survey the companies they are voted best by their employees are also those that outperform others in the FTSE100. In the past five years the companies listed in this survey have performed TWICE as well as their FTSE100 rivals. “Looking after your staff means you are looking after your shareholders too “
Back in 1998 Collins and Porras studied 18 “Visionary “ American companies to discover what made them “ Built to Last “, what fundamental principles endure. One of their earliest conclusion was that “profitability is a necessary condition for existence but is not the end in itself ... it is not the point of life but without it there is no life “
In 2006 Ken Blanchard published “ Leading at a Higher Level “ concluding that successful High Performing Organisations focussed on what he calls the “ triple bottom line “ of becoming provider of choice, employer of choice and investment of choice.
The Sunday Times survey highlights 8 factors that employees vote on to become “ Best Company to Work For “
- Leadership of head of the company and senior managers
- Wellbeing including work life balance
- My managers day to day activities
- My team and colleagues
- Fair Deal with pay and benefits
- Giving Something Back to the community
- My Company
- Personal Growth
( Details are available at timesonline.co.uk/best100companies )

So as you make the necessary decisions to ride-out the economic conditions, take a deep breath , a step back and assess both your short term and long term needs !