Check out this landmark Australian study, Leadership, Culture and Management Practices of High Performing Workplaces in Australia: The High Performing Workplaces Index, which shows that leaders in higher performing organizations make people management a key priority. Among other things, they:
- involve their people in decision making processes;
- are more responsive to customer and stakeholder needs;
- encourage a high degree of responsiveness to change and learning orientation, and
- enable their staff to fully use their skills and abilities at work.
The profit margins of high performing workplaces are nearly three times higher than lower performing workplaces.
High performing organizations are not just much more profitable and productive, they also perform better in many important “intangible attributes”, such as encouraging innovation, leadership of their people, and creating a fair workplace environment.
The study was authored by Boedker C., Vidgen R., Meagher K., Cogin J., Mouritsen J., and Runnalls J. M. Published October, 2011.