Balancing acts

Companies that are leveraging balance to achieve optimal performance.

The benefits of balance aren’t limited to one type of industry – any business or organization can improve performance by balancing operational and cultural needs. The following are examples of how real-life companies applied these principles and achieved measurable outcomes.

Large Manufacturer: Making the Connection

Company Overview

  • Large manufacturer in the Midwest
  • 25 business units, all with varying demographics and cultures
  • History of profitability, but experiencing industry-related financial struggles in the past few years

Finding the Balance

  • Recognizes the direct relationship between well-being, workplace engagement, and business unit performance
  • Balance-centered initiatives are based on data and focus groups
  • Practices a top-down approach to leadership accountability

Outcomes

  • Business unit-level initiatives focused on balance
  • Consistent revenue growth— above 20 percent for the last three years despite economic challenges on all sides of the supply chain
  • Improvement in supplier and customer satisfaction over the last few years

Hospital: Culture of Collaboration

Company Overview

  • Hospital system serving several states in the upper Midwest
  • 15,000 inpatient discharges and 1.3 million clinic visits annually
  • 73,000 members and 6,600 employees

Finding the Balance

  • Integrated delivery system strategy focuses on both internal employee and external supplier/customer/ patient relationships
  • High-value care behaviors are encouraged through peer reviews, recognition, and teamwork
  • Creates a culture of collaboration by cross-training and promotes partnerships between the medical and administrative functions

Outcomes

  • Consistent ranking in the top 5 percent nationally in-patient satisfaction with a readmission rate of 12 percent (about half of the national average)
  • Market share of 26.4 percent (closest competitor shares just 15.3 percent of the market)
  • Turnover rate of less than 8 percent, while the industry average is above 15 percent

Construction: Challenging Everything

Company Overview

  • Construction company headquartered in the South
  • 550 employees across five U.S. sites

Finding the Balance

  • Promotes a “challenge everything” culture in which employees are encouraged to uphold accountability expectations
  • Holds employee-led knowledge management classes
  • Believes that all training leads to growth and practices a “culturalist” approach to hiring

Outcomes

  • High customer satisfaction — 80 percent are repeat customers
  • Reduction of turnover rate year after year, with current rate at 9 percent (nearly half the industry standard), saving over $750K annually
  • Consistent growth and profitability in an industry that has been hit particularly hard by the economic downturn

Midwest Manufacturer: Committed to Well-Being

Company Overview

  • Midwestern manufacturer
  • 565 employees

Finding the Balance

  • Holds a top-down commitment to well-being
  • Fully integrated program focuses on physical health and overall well-being
  • Numerous on-site services and programs are available to all employees, including go! Platinum program that emphasizes togetherness and supports social wellness

Outcomes

  • Annual turnover of less than 6 percent, compared to an industry average of over 10 percent
  • Consistent history of high profitability and growth
  • Top scores in customer and supplier satisfaction