"Standing on the mountain, if you aim for less than the stars, you won't reach the sky." - SNR
"What's the bottom line?" A question that we have heard repeatedly and in many different contexts. In business, there isn't one bottom line ... there are three! The bull's eye for businesses is what Ken Blanchard describes as the triple bottom line. The triple bottom line is to be 1) provider of choice, 2) employer of choice, and 3) investment of choice.
The triple bottom line is becoming more and more important. Most organizations pay keen attention to providing an excellent product or service. They understand that if they don't care for the customer, someone else will. They also give 'return on investment' high priority. Shareholders and investors are scarcely neglected by businesses.
The area that seems least but is equally important is being the employer of choice. For clarity, this is not the same as being the highest paying employer. It simply means that your employees enjoy working for you. They are heard, treated fairly, respected, have the opportunity to grow and flourish, feel valued, rewarded, and trust that the company has their best interest at heart. As employer of choice, you have a team that takes pride in their work and the company and will go the extra mile to get things done right. One measuring stick of this bottom line is the model "A Great Place to Work". Most companies do Staff Satisfaction or Employee Opinion Surveys. Getting the feedback is the first step. How the leadership responds to the feedback will determine the kind of energy the team will give.
How is your triple bottom line? What have you been doing to improve it?