Employees Are the Most Important Stakeholder: The Container Store
As part of our mission to push companies to be more purposeful and less concerned with the bottom line, we’re recognizing the companies that are doing it right – like The Container Store.
The Container Store firmly believes that all of its stakeholders – employees, customers, vendors, the community and shareholders – its employees are No. 1. The company focuses on taking care of its employees first because its leaders understand that employees who are taken care of take better care of customers, and ultimately the shareholders experience greater benefit from this approach.
Its employee-first culture has earned it a place on FORTUNE Magazine’s 100 Best Companies to Work For list for 14 years running and remarkable financial success as a company since 1978.
The Container Store starts with hiring only the best people who best fit the culture, then trains them thoroughly - it offers more than 263 hours of formal training for full-time employees in the first year alone, compared to the industry average of eight hours.
The root of the company’s success is its values, written out in its seven Foundation Principles:
- 1 great person = 3 good people
- Communication is leadership - Open, honest, transparent and thorough communication across the entire company
- Fill the other guy’s basket to the brim. Making money then becomes an easy proposition.
- The best selection, service and price
- Intuition does not come to an unprepared mind. You need to train before it happens.
- Man in the desert selling - Selling whole solutions, not just what the customer comes in believing they need
- Air of excitement – Employees are having fun and genuinely concerned for customers’ needs.
So what can other business leaders take away from The Container Store’s success? Your employees are the most important part of your business. If you’re treating them like the most important stakeholder, they’ll make your other stakeholders very happy.
Learn more about The Container Store here.
Savage Brands believes in unleashing the good inherent within all organizations. Business results are driven by connecting with people at the belief level. That’s why we align everything a company says and does with its Purpose through a proven process that links strategy and execution with “why.” We solve the challenges corporate America faces by building tribal loyalty from the inside out, focusing on people first to deliver authentic brand experiences. Savage builds purposeful brands, communications, leaders and cultures.