According to Louis Chenevert, one of the best ways a company can experience optimal growth is by investing in their employees. Chenevert advocates empowering the employees by sponsoring or encouraging their self-development by advancing their education. As Chenevert says, a company can foster employee knowledge advancements by offering partial or fully funded scholarships. Since the employees are already acquainted with the company’s business, it is more likely that most of them will choose to advance their knowledge in the areas they find most challenging.
As a result, the company will stand to benefit a great deal from the newly acquired skills of their employee. Chenevert adds that a more skilled workforce is instrumental in the growth of any company, especially, when a company decides to venture into new areas. This is a tested strategy as Louis Chenevert successfully implemented it during his days as the CEO of United Technologies Corporation (UTC). While at UTC, Chenevert pioneered the Employee Scholar Program that sponsored UTC’s employees to pursue a total of 39,000 degrees.
Louis Chenevert also says that creating a system that rewards hard work in a company plays a vital role in the growth of an organization. When employees feel appreciated for their efforts in the company, they will be more motivated to work towards the company’s goal. Creating a peaceful work environment is also of utmost importance, as Louis Chenevert cites. When employees feel comfortable with the office environment they are bound to enjoy their jobs much more, making them more productive.
According to Chenevert initiating team building activities is another way to stimulate growth and productivity. However, Chenevert notes that most managers organize similar activities that have been around for long, while, they could be more innovative and nurture more fun activities that also count as team building.
Chenevert has led a bespoke career that has made him one of the most prominent executives of the modern era. Until 2014 when he retired from the corporate world, Louis was the CEO and Chairman of United Technologies Corporation. Additionally, Chenevert spent 14 years at General Motors where he served as the Productions Manager. Other reputable firms that Louis has worked for include Goldman Sachs and Pratt & Whitney.