Companies, Like People, Have Habits - Deepstash
Companies, Like People, Have Habits

Companies, Like People, Have Habits

Curated from: inc.com

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Not all company habits are profitable

Not all company habits are profitable

Routines come easy and don't require much thought. We know which ones are beneficial, such as regular sleep and exercise. We also know which aren't so good for us, like overstressing or smoking. But habits are hard to break.

Companies also have habits. Some keep you afloat, while others might be holding you back. Companies can learn new habits, but not without effort. However, we can stick with something long enough to become a habit when we are motivated.

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Some habits are consistently linked to performance

Consumer engagement: The habit of regularly seeking customer input does not necessarily drive profitable growth. To do that, you need economic understanding. Companies with a widespread working knowledge of economics are more profitable.

This is because a good habit requires you to know where you're starting and where you're going. When employees understand where the company stands, they can track progress or decline.

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Economic compensation

Economic compensation gives employees a shared stake in the results and makes them economic partners. This encourages good habits that drive profitable growth.

It also creates a real team environment because it aligns motivation for owners, managers, and employees.

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Employee participation

Turnover and continuous improvement activities are tracked. Relying on superficial incentives doesn't change a hired hand into a trusted partner.

When employees are treated like trusted partners, they think and act like owners.

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IDEAS CURATED BY

maxwellc

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CURATOR'S NOTE

Not all company habits are profitable. Changing habits is hard, but some things can motivate us to develop winning habits.

Maxwell 's ideas are part of this journey:

Hiring the Best in Class

Learn more about business with this collection

Conducting effective interviews

Identifying the right candidates for the job

Creating a positive candidate experience

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