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High Performance: Barclays Bank
performed very well from 2000 to 2003, growing profits and increasing its
stock price. But "all was not well," according to a new McKinsey article,
because in some parts of the business, employee engagement was low, a
leading indicator of potential trouble for a company. A new CEO, John
Varley, focused on improving employee engagement, retention, customer
satisfaction, recognition and rewards and corporate culture. He wanted the
company to focus less on short-term financial results and more on building
the company for the long haul. McKinsey says that "financial performance
is vital, of course … but financials alone are not enough to measure
either performance or health." And, says Varley, "I see soft-side
strategies as the foundation stones of hard-side-strategy
success." |
