October 21 2014

Leadership Lessons from Jack Welch: Budgets Are Not Goals


Tom Feeney, Safelite® President and CEO
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WinningJackWelch

Today, we wrap up our series, “The Five Steps to Winning We Learned from Jack Welch,” with this important leadership lesson:

5. Budgets are not goals, but rather roadmaps.


As Jack points out, some companies fail by using a strict budget as the main measurement for your company’s annual success. But there are so many variables that it cannot all be about meeting a pie-in-the-sky financial goal. Rather, the budget creates areas of focus and ways of streamlining that allow us to improve each year. According to Jack, the only goal a company should have is to perform better than the year before.

That goes beyond financials as well. Because our two key pillars of success are “People Powered,” and “Customer Driven,” we put in place strong tools to measure our progress. I can proudly say that since embarking on cultural transformation, our employee engagement score has reached 78% - higher than what many consider best-in-class. And, our annual average Net Promoter Score has reached 87%!

In addition to improving employee engagement and NPS scores, our profits have grown, reaching more than $1.15 billion in sales in 2013. These results speak for themselves. I have to admit, when Jack shared he was impressed with our NPS number, I was glowing with pride. And I want all of our employees who helped us reach that NPS to beam with satisfaction as well.

While there is not a one-size-fits-all formula for success, there are many business leaders in all types of industries that can follow these steps toward becoming a “winning” company. I thank leaders like Jack Welch who have blazed the trail, showing how it’s done, and I thank our Safelite leaders who are transforming our business by transforming themselves and are paving the road to greatness.

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