In a downturn, business leaders ask, 'What is our mission?'
More than half emphasize their company's mission more than ever; 49 percent use mission statements to judge employees during layoffs.
When the going gets tough, today's corporate leaders say the tough look at their mission statements and corporate values. Could the same back-to-basics approach help your veterinary practice?
In a recent poll by business consultancy LRN, 150 senior business leaders explained how corporate values and company mission statements affect their businesses. Here are choice results:
> Nearly 90 percent say they value employees inspired by their company mission and values.
> Fifty-six percent say their companies place a premium on employees who are allied with the organization's overall mission.
> Almost half say their companies weigh how aligned employees are with their company values in making decisions to allocate resources or lay off personnel.
Corporate values aren't all that companies care about, though. Some senior business leaders reported their companies most favored employees who do what they're told (35 percent of leaders) or who are motivated by material rewards (32 percent).
If it's been a while since you've looked closely at your practice's mission statement and practice values, a downturn is a good time to do so. If you've never written one, now's the time. Equine management consultant Tracey O'Driscoll-Packer recently wrote a two-part series on writing and using mission statements in practice that apply to equine and small animal practices (see the first link in Related Links below).
