People-First Management: Creating a Culture of Trust Stanford Business Brief with Daniel P. Amos
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- The cornerstones of good business: credibility, respect and fairness.
- How to give your employees a vested interest in your company's success.
The critical need for setting clear expectations--and acting accordingly.
There's more to AFLAC's success than just simply a duck. Granted, this advertising campaign has skyrocketed AFLAC's brand awareness in the US (up from 8% just a decade ago). However, as Daniel Amos points out, name recognition carries a significant burden. Once you become a household name, any wrong move you make will be remembered. Ultimately, Amos believes that his company's success has come from a reputation for doing the right thing and for putting employees first.
Amos follows two straightforward management principles: he sets clear expectations, and he listens to employee concerns. But his focus is not just communication--it's communication followed by action. Amos ensures that employees experience an evenhanded response to their input, and he provides a reward system that gives them a vested interest in the profitability of the company. When employees trust the company to go the extra mile for them, they go the extra mile for customers. It is this level of integrity and customer service that has created shareholder returns for AFLAC that are double the market average.
During Mr. Amos' 16-year tenure as CEO, the assets of AFLAC have reached $56 billion, with last year's annual revenue topping $14.4 billion. AFLAC has been on Fortune magazine's "100 Best Companies to Work for in America" for eight consecutive years.