Business Blug
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These are
good times to work for the "never knowingly undersold"
business.
John Lewis Partners are in for an average payout of two grand
each - about two months’ salary - after the co-ownership operation
made decent profits in the past year, despite recession and
half-year stutters.
Of course, Charlie Mayfield, chairman, and Andy Street, managing
director, stand to make a lot more from their bonus.
Andy, the diminutive, bubbly, ever-youthful former MD of John
Lewis Bluewater is becoming a bit of a star.
He featured prominently in the BBC2 series on John Lewis - what
a promo! - and is a media-friendly operator.
He heads an interesting business that genuinely cares for its
staff. A bit like Cadbury used to be, but almost certainly the
antithesis of Kraft, the new, rather despised owner of the
Bournville empire. Kraft's chief executive has turned down a
request to appear before a Select Committee of MPs investigating
the takeover - not a promising sign of things to come.
So good on John Lewis, a shining beacon in treating staff like
they should be treated. Of course, it's not only altruism but it
seems to pay off in terms of bottom line, customer loyalty and
lower-than-average staff churn.
If you know your bonus is going to be directly related to
performance, why wouldn’t you put on a good show? There is a lesson
for every employer in the John Lewis story.
Friday, March 12 2010
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