What makes a successful company today? Of course, it must be about turnover and profit because that is the only way a company can survive. Increasingly, however, it is also about creating new values in addition to « more and more ». The textile industry is a sector in which this is particularly true, as it is one of the most environmentally damaging of all, with sometimes inhumane production processes. Futurologists Tristan and Matthias Horx describe it as one of the « dumbest systems: order, send back, hardly wear, throw away, … The extreme oversaturation of the markets and the absurd attempts of fast fashion to sell more and more collections per year have given rise to the countertrend of second-hand and exchange clothing, which is slowly spreading ». A change in values and culture has long since reached many consumers, especially the young Generation Z, who fear for their future.
What can companies do to counter the « more and more »? We need to initiate a transformation towards « better and better ». This requires a clear profile, goals, values, innovative strength, perseverance, and determination. A company can only be as good as its employees. Companies that invest in their employees and create a supportive working environment are more productive and better able to meet the challenges of a constantly changing business world successfully.
Ultimately, people make the most significant difference in a digitalized world and can lead a company from good to better. I am firmly convinced of this. Employees play an essential role in the success of a company. Why is that? Because they are the ones who look after customers, manufacture products, oversee operations, and find innovative ways of doing business. So, let’s put people at the center. I see the greatest potential in the following four areas:
Employee Motivation
For me, motivating people means giving them pleasure in their work. This does not primarily have to do with money. Motivation is a crucial success factor. According to a Gallup study from 2021, only around 20 percent of employees worldwide are truly engaged. That’s not enough!
Company Culture
An excellent corporate culture is essential for good employee motivation. According to a survey by Glassdoor, 77% of employees say that corporate culture is a decisive factor in their job satisfaction, which results in higher employee loyalty and better financial performance. A good corporate culture goes far beyond perks and benefits. It includes open communication, mutual respect, shared goals, and a commitment to employee development. A culture where everyone feels seen and heard, where management is transparent, and where teams work together with pride and enthusiasm should be the goal of every company.
Talent Development
Employees can gain the skills, knowledge, and confidence they need to work productively in an organization and achieve tremendous success by providing opportunities for talent development. In this way, companies attract future specialists and managers and show their employees they are interested in their careers. Skills that can be developed include leadership, soft skills, organizational skills, time management, project management, or skills in using the latest technologies.
Integration and Diversity
An inclusive and diverse workplace is one where everyone, regardless of who they are or what they do for the company, feels equally included and supported in all areas. Numerous studies have demonstrated the benefits of inclusive and diverse teams: higher sales growth, greater willingness to innovate, up to five times higher employee retention, and the chance to recruit a suitable talent pool.
The transformation of companies towards an « always better » model instead of « always more » is a necessary development in today’s business world. It is time for us to move away from the old paradigms and focus on a sustainable future. A future in which companies not only make profits but also positively impact society and the environment. All the people who work in a company are at the heart of this change.