Do you know how rare it is to see a huge focus on culture and people in a 10-year strategic plan? It is extremely rare. In the 12 years that I’ve been in the HR Business, I don’t know if I’ve ever seen a plan like that for a smaller business.
Jim Derry’s company, Field Fasteners, has a 10-year plan that has six pillars and three of them have to do specifically with their people and their culture. The bottom line is this, when you focus on your people, you get more profitability, which is what Jim and his business partner have done. They bought Field over 30 years ago and for the first 15 years, they didn’t have this focus on people. But then they turned the corner and decided to put the focus around their people and they grew significantly – to the tune of going from $8M to over $100M in a commodity business selling Class C goods. So if I can re-emphasize one thing to you is this – when you focus on your people. You get more profitability.
In this episode, you will learn:
- How to recruit top talent through the power of identifying your core values and culture fit
- How Jim Derry grew his company by 150X by focusing on people first
- Why culture needs top priority in a strategic plan
- How to keep recruiting costs low and retention high through the power of culture
- Much more!