How to Build a Winning Company Culture
Do a little background research on Rich Reinecke and you quickly turn up words and phrases like “entrepreneur,” “executive search industry professional” and “largest firms in the country.” But that’s old news. Today he’s a business builder and connector, a hirer of phenomenally talented people, and a nurturer of one officially great place to work.
His company, The Fahrenheit Group, which he co-founded with Keith Middleton in 2010, has evolved organically into a successful multi-dimensional, fractional hiring, and business consulting firm — complete with accounting, finance, business advisory HR and talent acquisition divisions. The company’s client roster reads like a Who’s Who of some of the most recognized large companies in the country. The staff are seriously smart C-suite executives and professionals who have been there, done that.
His staff demands a unique business environment and opportunities. They know what a great place to work for looks and feels like, and they’re the reason why The Fahrenheit Group has twice been named one of the Best Places to Work in Virginia.
Reinecke says his company’s growth has been fueled by its work culture. Here are a few tips from him that could get your business on the right track toward success.
FIVE WAYS TO CREATE A GREAT COMPANY CULTURE
1) Be bold. Ask. It’s a simple first step that many companies ignore. Ask your employees what they think about their workplace environment. Ask for their feedback and listen. Make adjustments. Ask again. Then watch employee morale and camaraderie begin to grow.
2) Think “team,” not “us vs. them.” Reinecke says this is more than a shift in nomenclature – it means allowing your staff to give input freely without concern over reprisal. It means polling or asking team members things like, “What could we be doing about…” or “What do you think about this?”
3) Create an attractive environment. Is your physical space comfortable? Welcoming? Friendly? Does it complement or detract from your brand’s image? Reinecke describes Fahrenheit’s space as edgy and innovative – which pairs perfectly with the out-of-the-box thinking the company’s co-founders encourage. Says Reinecke, “Do the little things right to encourage your employees to want to be at work, even if that’s simply having Diet Coke in the refrigerator.”
4) Keep everyone engaged. Regular information-sharing sessions are one important way Fahrenheit’s staff stays involved in the business. “We try to mix some social aspect into our team meetings that allows employees to really interact and get to know each other at a meaningful level. Relationships create accountability to each other and a desire to help everyone win.” Reinecke also encourages and empowers his team to create new business opportunities.
5) Give regular feedback. “Everyone wants to know if they’re making a positive impact. Share what information you can on that front. Regularly report to the team as a whole and individually in private,” says Reinecke.
ABOUT THE FAHRENHEIT GROUP
“The Fahrenheit Group is a team of experienced C-suite executives and consultants who collaborate with management and define strategy and build roadmaps to execute and deliver measurable results. We serve clients across all industries, ranging in size from emerging growth companies to Fortune 500 firms, including VCs and private equity-backed portfolio companies. From accounting, finance and HR projects to M&A and advisory engagements, we have talent that transforms the world of business.” – Rich Reinecke, co-founder, The Fahrenheit Group.
What’s On Our Minds…
THINK ABOUT IT.
It’s very likely your customers could be judging your entire brand on one simple interaction.
Said another way…
- – Your best prospect was treated rudely by your new receptionist.
- – Your delivery truck was last seen at 2:00 pm outside a seedy bar.
- – The bathroom in your five-star restaurant doesn’t have toilet paper or towels.
There are hundreds of ways your brand is rightly or wrongly “judged” — either by direct interactions with your employees, or by other random, indirect encounters. How aware are you of those moments?
Do you know how to engage your employees and teach them how to be sincere advocates of your business? The VACEOs members who attended the recent Knowledge Network Luncheon do.
Come join us! ‘Cause if you didn’t get a least ONE solid business nugget at your last meal, you’re dining with the wrong group.
This “What’s On Our Minds” moment from VACEOs Knowledge Network Luncheon, “Understanding and Controlling Your Hidden Brand: The Tug-of-War of the Brand Experience” presented by Glenn Lock, tacklocktraining.com.
Finish Big
No, this is not another end of the year, rah rah blog post. Rather, I just started reading Inc. editor Bo Burlingham’s new book, Finish Big. Bo co-led our 2008 CEO Retreat with Doug Tatum.
The book starts with “Every entrepreneur exits. It is one of the few absolute certainties in business.” There are damn few certainties in the life of a business owner. Still, many pay scant attention to their coming exit until it is too late. This book will motivite you to get going, and give you an outline to pursue.
Well, Bo is sucking me in, so I will be through it shortly. His writing is powerful. His genius is in distilling and sharing experiences, all the while telling a good story. If you would like my copy of Finish Big when I am done, let me know. – Scot
McAuliffe Talks Jobs, Workforce Development, Chicken and Kegerators
The audience, which represented approximately a billion dollars worth of business in Virginia, was absorbed. On November 13, close to 150 Central Virginia CEOs gathered to hear what Governor Terry McAuliffe has been up to in his first 11 months as CEO of Virginia.
Like most newly appointed leaders with an ambitious agenda, he has chosen to take quick and immediate action. We learned he’s been on the move, traveling the world to approximately 20 countries and promoting his desire to put “Made in Virginia” on more shelves around the world.
His early economic development record is tracking twice as high as his predecessors’, and according to McAuliffe, he’s just warming up. He answered our questions and at times made us wonder, “Did he really just say that?” All told, we were honored to have him join our member meeting.
Jobs, Workforce Development, Chicken and Kegerators
Since taking office in 2013, McAuliffe’s administration has announced the creation of 211 jobs that are expected to bring nearly $5 million worth of capital investments to Virginia — and deliver much-needed salvation to areas like Galax, Hampton Roads, Appomattox and Petersburg.
Our own VACEOs 2014 Third Quarter Economic Survey reports that staffing and finding the right talent is a major concern for Virginia business owners. It’s also on the mind of the governor. “We are going to see 500,000 new jobs created in the next six years in Virginia,” said McAuliffe. “You will see 400,000 Virginians who will be retiring. We’ve got to fill those jobs. We’ve got to do it.”
His answer? Align college curriculums to sought-after skill sets and jobs. Expect legislation to move the Virginia education system in that direction soon.
Being the CEO of Virginia is a tough job, but McAuliffe seems to be up to taking one for the team, even if it means placing himself in a few uncomfortable situations. Eat a whole bowl of chicken feet followed by a healthy serving of cicadas? No problem! Especially if it means a seven-year ban on Virginia poultry by China is lifted — which, as McAuliffe reports, could bring upwards of $100 million a year to Virginia’s poultry farmers.
Said McAuliffe jokingly, “I will eat anything if it’s going to get the deal done. I will do what I have to do.” Even if that means putting a kegerator in the mansion to court Stone Brewing Company away from 20 other state suitors, or personally consuming enough Virginia wine to tip Virginia wine sales ahead of Texas. The CEOs gathered before him related to and appreciated his passion and sense of humor.
“If you want to attract new business, you need to be able to move the goods around,” McAuliffe stated in closing. But will he be able to unlock the clogged arteries of Hampton Roads and Northern Virginia? It remains to be seen. But clearly, transportation was on the minds of the Virginia CEOs in attendance. Questions for McAuliffe included, “How will he woo low-cost air carriers to the Richmond International Airport to make the west coast more accessible to the state?” And, “Why are gas prices set to rise again?”
Whether they’re the CEO of an insurance firm, an IT company or the entire state of Virginia, everyone seems to be on the same quest: finding creative business approaches to operational efficiency. The better question might be, “When we do find the Holy Grail, can we replicate it and label it ‘Made in Virginia’?”
About the Virginia Council of CEOs
The Virginia Council of CEOs has gathered Central Virginia CEOs together with local and national thought leadership since 2000. Our Think Tank includes award-winning companies across industries like IT Services, Marketing & Advertising, Logistics & Transportation, Business Products & Services, Consumer Products, Human Resources, Finance, Health Services and more. Learn about VACEOs membership.
Crisis Management: How Prepared Are You?
How prepared are you for a crisis? As business owners, we’re often mired down in the minutiae of everyday operational, employee and financial issues – able to plan only so far ahead. But it’s important to stop and consider the consequences of a real business crisis. A product malfunction, a breach of security, a serious accident, a policy change, a plant closing, a rogue employee – these are things that, if mishandled, could ultimately disable your business and damage your reputation.
Crisis Management Knowledge Network Panel
It’s a scary proposition, but worth your attention now. Says Brian Chandler, President of Commonwealth Public Relations and our most recent Knowledge Network meeting moderator, “It is inevitable that something will happen. It might be small, it might be large, but you’ve got to have a communication plan in place.” The consensus around the room was that very few did.
Our Knowledge Network panel consisted of a highly successful national and international franchisor and a PR and public affairs executive with 25 years of experience – both VACEOs members. As long-time business owners, both were familiar with navigating potential crisis situations, and the topic sparked many serious and eye-opening conversations with the panel and among participants.
If you find yourself in a crisis, keep these few takeaways from the Knowledge Network discussion in mind. Of course, the best defense is having a basic plan in place now. Will you take heed? Or are you willing to put your business at risk?
IT STARTS WITH A PLAN
1. Designate the right Point Person. (Surprise: It may not be you!)
2. Know your message points and stick to them.
3. Communicate often and use social media.
4. Don’t forget to communicate to your internal team.
5. Keep your promises.
A quick tip about your Point Person: The best person for the job may not be you, the CEO. Choose the person who makes the most sense from an internal and/or strategic standpoint. If a change management policy coming from the top is causing a stir at the local dealership in Hoboken, it may be beneficial to have a local representative on site to diffuse the situation, for example.
THE MEDIA…YOUR ENEMY OR SAVIOR? YOU DECIDE
Our PR experts agree: Saying, “No comment” is about the same as saying, “Just write what you want.” If you leave a void, the media will find a way to fill it. Our experts also agree that building relationships with local writers and press is very important. Reach out to them for story ideas, offer quotes, become the “go-to expert” in their eyes. When a crisis occurs, be sure to share the story with them first.
According to one panel member, “Your goal during a crisis is to be prepared, be genuine and be responsive.” This advice may sound obvious, but if you find that your Facebook and Twitter accounts are blowing up, there’s a line of employees outside your door wanting to speak with you, and the media is on the phone, it may be too late.
THE BEST OFFENSE IS…
Really, the best offense is a good defense. Be proactive NOW. Besides taking your local Op-Ed columnist to lunch:
1. Prepare a crisis communications document. List specific names and cell numbers of individuals who are the most important for you to reach in a time of crisis. Include local police leadership, media contacts, your PR person, board members, etc.
2. Have a social media plan in place. Re-communicate your policy to your employees regarding crisis situations.
3. Consider hiring a PR firm. Ask for crisis training and video practice sessions.
4. Recognize potential hazards before they happen. Learn from the stories of the day and consider how you would respond.
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