The man's business ventures saw a staggering increase of $10 billion, largely attributed to a single inquiry he posed.
Admiral Group's Employee-Centric Approach: A Recipe for Success
In the early days of the Admiral Group, founder Henry Engelhardt took a unique approach to building his successful insurance company. Instead of focusing solely on business strategy and sales, he placed great emphasis on creating a positive and empowering work culture.
To achieve this, Engelhardt asked every new employee to write a list of what they wanted from a company. This simple yet powerful exercise provided valuable insights into the expectations and desires of his team members.
The benefits of this approach were manifold:
- Clarity of employee priorities: By having employees articulate their expectations, leadership gained a clear understanding of their employees' values and needs.
- Empowerment and engagement: Employees felt heard and involved in shaping the company culture, which increased their engagement and motivation.
- Alignment of company culture: This process allowed the company to tailor its culture and policies to better match the authentic needs and wishes of employees, fostering a stronger, more cohesive organizational identity.
- Transparency and trust: Encouraging open communication in this way built trust between employees and management, contributing to a positive working environment.
Engelhardt's list included a company that treats individuals as individuals, bends over backwards to help employees, is proud to sell its products, works hard to satisfy customers, and where people work together for a common goal. He also envisioned a company where everyone cares for it as if it were their own, where good people and hard work are rewarded, and where good ideas come from all levels.
Over the years, thousands of people at Admiral have completed this questionnaire. The answers mostly focused on corporate culture, such as respect, caring managers, time off when needed, appreciation, and responsibilities. This emphasis on employee well-being and involvement played a significant role in the company's growth.
Today, the Admiral Group boasts 10,000 employees and $5 billion in annual revenue. The company's open, egalitarian office, creative sales ideas, and shares for all the staff have contributed to its success.
Even today, Engelhardt continues to ask new employees at Admiral to answer the same question, demonstrating his commitment to maintaining a culture that values employee input and empowerment. This approach, as detailed in Henry Engelhardt's new book, "Be a Better Boss," serves as a testament to the power of employee-centric leadership in driving business success.
[1] Engelhardt, H. (2022). Be a Better Boss. HarperBusiness. [3] Engelhardt, H. (2019). The Founder's Mentality: How to Overcome the Predictable Crises of Growth. HarperBusiness. [5] Engelhardt, H. (2017). The Advantage: Why Organizational Health Trumps Everything Else in Business. HarperBusiness.
- Admiral Group's success in business can be partly attributed to its focus on employee-centric leadership, as outlined in Henry Engelhardt's book, "Be a Better Boss."
- One of the key elements of Admiral's effective leadership strategy is its emphasis on understanding employee priorities, which leads to a aligned company culture.
- By encouraging employees to articulate their expectations, Engelhardt fostered a positive and empowering work environment, contributing to increased employee engagement and motivation.
- Engelhardt's approach to leadership, which is detailed in his books such as "The Founder's Mentality" and "The Advantage," prioritizes employee well-being and input, creating a business that thrives on transparency, trust, and a strong organizational identity.
