Executives are measured on how effectively they convert knowledge, or intellectual capital, into customer value. In the knowledge economy, the primary role of an executive is to make knowledge productive.
And, knowledgeable employees and productive employees are happy employees! In this context, a key to being a successful business leader is retaining employees with great attitudes.Employees with positive attitudes are critical to the firms success.Thankfully, we have found that knowledge management is one of the best methods to improve attitude. Growing the intellectual capital of your employees translates directly to your customers.
In fact, we’ve found two separate studies that correlate the attitudes of front-line employees with customer’s attitudes toward the same firm.For example, my opinion of Taco Bell, Nordstrams, or Ford relates to the service I get at the local storefront.That’s how I see the Ford Motor Company, through the lens of my experience at the bottom line, transactional phase.I don’t experience Ford Motor Company as the millions of dollars of R&D, or the fancy 5-day Global Strategy executive retreat.I experience Ford where I buy the car.I experience Nordstrams where I buy the clothes.I experience Taco Bell where I buy the food.
It’s possible that many organizations who are struggling financially are doing so because they fail to capitalize on their most valuable assets, namely their intellectually stimulated front-line employees.
There is immense talent inundating your organization, yet struggles and failure continue. Why? Let’s look to the example of the 19th century miners…. Top executive with a bushy beard, smelling like a horse, hat pushed back, chewing on a twig, walking around the cubicles… there he is, and all he wants to do is hit the jackpot, hit the big vein, go grab whatever that treasure is for him.It’s amazing! All these old miners walking around the office, grumbling because they don’t have any money to get that next shot of whiskey… and there are huge gold nuggets in every cubicle!They just pass it right by.Don’t’ even see it; don’t even want to see it… just keep worrying and complaining and trying anything to succeed at some task…
There is soo much captial out there; your front line people are really and truly the most valuable asset in your firm!Clem, you gotta get it:Employees with the most intellectual captial are often the least appreciated.It’s like a bad joke. The best accountants in the world working for the largest firms, and everyone is missing the most valuable asset. These are the people that interface with the customers!The absolute bottom line transactional phase occurs there. Yup. I’ll have mine in a dirty glass…