New Jersey Business Executives on What All Successful Companies Have in Common

The Edge for October 2018

What does it take for a company to be great? We posed that question to New Jersey business executives, and there is one thing they all said: Great companies have great employees. Further, they said successful companies have the ability to challenge the status quo, adapt to customers’ changing needs and change course on the fly when a strategy is not working. Here is what the executives said:
 

Demonstrate ‘Professional Athleticism’

Successful companies invest in employees that demonstrate professional athleticism - the ability to stretch, grow, and challenge the status quo. Diversity of thought and experience is the foundation for a flourishing organization. Secondly, successful companies avoid becoming complacent. Just because a strategy has worked in the past, does not mean it will continue to do so. Successful companies challenge their own way of thinking, and put their convictions and those of the team’s to the test year over year to stay ahead of the competition.

– Dennis G. Wilson, President & CEO, Delta Dental of New Jersey & Connecticut

Empower Employees

Highly effective companies encourage teamwork and create a culture in which team members rely on each other while working towards a common business objective. It becomes even more rewarding when it’s a diverse team in place, with everyone bringing ideas to the forefront. When employees feel “empowered” they extend beyond their reach. They do the extra hard work to get something accomplished. New and seasoned staff alike need to feel “part of the fabric.” It’s important to include everyone in achieving a company’s goals as well as acknowledge significant contributions.

– Ralph Albert Thomas, CEO and Executive Director, NJCPA

Be Vigilant When Hiring

Successful companies bring on people who innovate, empathize and take responsibility. These traits are very difficult – if not impossible - to teach, therefore you must make sure that you start at the beginning, with the hiring process. In healthcare, the people we value most are those who can combine professionalism with compassion. If you know your trade well, and you have a heart, then you will have what it takes to succeed. You simply cannot be overqualified in these areas. I think those who elect to work in the non-profit arena are naturally drawn to it by their sense of compassion. But you still must be vigilant during the hiring process in order to ensure you select the best possible candidate.

– Gary S. Horan, FACHE, President & CEO, Trinitas Regional Medical Center

Have a Plan, Then be Flexible

One of the things successful companies have in common is implementing a strategic plan, creating opportunities to implement it and providing the resources to see it through, while still realizing that you have to be flexible within that plan. Regardless of their level, people at the company must possess the ability to listen and to communicate. Effective communications will result in the expectations of engaged parties being met. Goals are not always met. Sometimes you move the yard marker down the field. Sometimes you stay stationary.

– Christine O’Brien, President, Insurance Council of New Jersey

Stay Client-Centric

Top companies keep their eye on the customer. They stay client-centric. They listen to their customers and adapt to their changing needs. After all, without a buyer what is there to sell? Further, top companies know how to retain and reward good employees while keeping them committed and motivated.

– Nick Malefyt, Director, Lorelei Staffing