Ken and Diane Hendricks
Money isn't everything. But for most, it's a big part of the report card, especially in business. Spending money is how we demonstrate action. And, action is always louder than words.
Many, many companies claim they are the "employer of choice" and brag about how well they take care of employees. I'm certain I'm not the first person to tell you that most organizations fall short of their mission statements....sometimes way short.
Ken Hendricks of ABC Supply seems to have figured out how to put his money where his mouth is. Haven't heard of Ken? He's only number 107 on this year's Forbes richest Americans list....worth $2.6 billion. There's a great article about Ken and his business philosophy in this month's issue of Inc. magazine (starts on page 108). It's well worth the read. But, in my opinion here's the most important part...
"wasting people is a sin. Repeatedly, he rails against "sick" cultures that don't nurture employees, or that simply discard workers. ABC, by contrast, invests $15 million each year (.5 percent of sales) in training and employee development and returns 51 percent of after-tax net income to the workforce in bonuses. Close to half of the company's managers making an average of $100,000 or more started out as roof loaders, warehouse workers or truck drivers."
How many companies do you know that return 51% of after tax income to its people...not the execs...the people?
The foundation of any company rests on how well it takes care of its own...and its customers. Often, that's measured in dollars.
What do your grades look like?