Forum 1 | Synovus Financial Corporation Degee Denson Liberty University BMAL 570 Forum 1 | Synovus Financial Corporation Synovus Financial Corporation utilizes a value based leadership style in which they use to shape the organization’s relationship to its customers and the community. The corporation held top rankings as one of the best company to work for, the best bank in the south for its profitability and returns, outstanding performance, on the S&P 500, and for its top money managers with pensions and investments (Hess & Cameron, 2006). The most important concept at Synovus centers around the values that focus on people, culture, service, integrity, and character. How Synovus Financial Corporation Took Care of Their People Synovus …show more content…
The founders of the corporation were executives with high standards of integrity, religious convictions, respect and care for its employees, customers, and the community. According to Hess & Cameron (2006), the leaders feel that they should live the values, share the vision, make others successful, as well as, manage the business. They are committed to the organization’s culture and values based on putting people first and integrity. Biblical Connections to Values Displayed by Synovus Financial Corporation The Synovus Corporation believe that they work for a higher purpose. Their principles are based on the Golden Rule and servant leadership. As conveyed in Matthew 7:12, we must do unto others whatever you would like them to you. The organization feels that it is essential that were supportive, kind, understanding, and flexible with their employees. In addition, they make no excuses when things go wrong, they just make it right. Also, Luke 6:31instructs us to treat others like we want to be treated. Synovus was committed to doing so. Current Business/Organizational …show more content…
Which results in better performance, greater efficiency, improved customer satisfaction, and lower costs, turnover, and absenteeism. In the current business and organization literature, employee satisfaction, respect, loyalty, and an atmosphere of feeling valued is imperative to the success of a business. The feeling that an employer sincerely cares for its employees is remarkable. In line with Gupta & Agarwal (2012), it is imperative that employees understand the worth of their lives in the workplace. Companies that express a genuine mutual care towards its employees gets better results. They are motivated to work harder and smarter. Many employers are only interested in the bottom line and performance, not their employees’ well-being and their
Participating in the course Foundations of Organizational Leadership presented many opportunities to enhance and enrich my perspective on leadership as well as develop my own unique leadership philosophy. By observing the theories, models and cases presented in Northouse, Kouzes and Posner textbooks, I was able to learn through the experience of others what a true leader should represent. While considering the strengths and weaknesses of each theory, I am able to implement a leadership style with an effective approach tailored to many different types of learners. In addition, witnessing both the triumphs and failures of various businesses and leadership styles, helped me confirm my personal stance and aspirations towards becoming a leader. By implementing what I have learned from the course and textbooks, I will address in this paper what specific leadership theories, styles and models have contributed to forming my own leadership philosophy. In addition, I will also define the values, qualities, strengths and weaknesses and ethical considerations that pertain to my stance on leadership. By integrating a faith based approach as the foundation of my leadership style, I hope to implement my new philosophy into my current and future career path.
Employees are the most important asset of an organization and organization has the responsibility to keep happy, motivated and satisfied so that their interest does not diminish in work. Moreover, when employees are kept happy and satisfied then their productivity rises as they feel that the company has given them the importance.
It has been shown that employees who have a high satisfaction rate on the job or with the company that they work for, are less likely to leave the company that they work for compared to those who have a less satisfaction rate (Hellawell, 2012). As mentioned earlier, this would result not only in cost savings, but it would improve the overall relationship between the employee and the company. Employees that are committed and satisfied are not only not going to leave, they would also be able to contribute more and be more effective and efficient.
The company believes in always giving back to the surrounding community. They have programs such as Partners in Time (an employee volunteer program), Cause Marketing, Corporate Giving, and many more. The company is proud of the community service they have been involved in and the amount of donations they have given throughout the country.
As you know, customers satisfactory level depends on how well your employees treat your customers. Researching data on the topic of your customer’s happiness, we found that keeping
Synovus is known for its family-friendly corporate culture and has consistently been named by Fortune magazine as one of "The 100 Best Companies to Work For" in America. The practice of "servant leadership," a philosophy based on teamwork and recognition
The mindset of an organization especially ABC company should be " customer first, Employee second and Shareholder third ". ABC company cannot improve its productivity without raising its worker productivity first. The assumption is that the more effieceint the job, the more employers can justify their salary expenses. One of of the Company's main weakness is due to the decline of growth of worker productivity. Maintening healthy employee realtion in an organization is a key for organization success.
Successful organizations demand satisfied employees. Figure 1 below shows a theoretical one-way linkage chain called the "Engagement-Profit Chain." This chain directly shows how active employee engagement leads to good service which ensures that customers will to continue coming back, providing a solid foundation on which the company can grow. As employee effort is indeed discretionary, it has been observed that higher levels of engagement, or the way management commits itself emotionally to employees, pushes a higher level of discretionary effort (Kruse, 2014). It is not by chance that
Synnex has an entire page dedicated on their website to show their governance policies clearly. The roles of the board of directors and management are described in detail the benefit shareholders and customers by providing this information because it shows how duties are delegated.
“We will distinguish ourselves through an unwavering commitment to our employees and a relentless drive to maximize shareholder value”; as found within Lincoln Electrics’ Vision Statement (Lincoln Electric 1999-2016). The beliefs and values transferred from company founders and instilled into employees can have an overwhelming impact on corporate culture. By establishing a positive corporate culture one can influence exceptional company performance. This is clearly demonstrated by Lincoln Electric Company, from its early days until its present day. I will present how the Lincoln Electric Company has done just that!
Great workplaces learn how to offer benefits that increase employee satisfaction, which affects customer satisfaction, in hopes of ultimately increasing profitability. These workplaces enjoy lower turnover, better staff, and preferable performance. According to the text, “a great workplace is a place of trust - the credibility in knowing that what is spoken can be believed because management has the integrity and competence to accomplish fulfillment.” Employees set standards and still enjoy their peers. Management accomplishes trust by communicating, being available, tackling challenges, honoring their word, saying thank you, and emotional intelligence. In observations by Lolly Daskal’s, she states: motivation should start with the
Over the decades and since it was first created, the ongoing guidance and encouragement of the management towards their employees made Lincoln’s expansion possible to a global level. The ideas and philosophy of the founders are still at the core of the organizational culture because they strongly supported the company in its initial stages and helped distinguish it from others. “Thus, by providing a competitive advantage, these values were retained as part of the corporate culture and were taught to new members as the right way to do business.”
"A strong and stable leadership team, ambitious yet calculated decision-making and ground-breaking ideas all contribute to the creation of great companies. Of course, these have played a major part in our development, but we believe our business ethics are the foundation on which our success has been built. Caring for our employees and stakeholders, as well as the environment and the communities we serve, have played a huge part in our past and will continue to shape our future"
* The behavior of top management clearly reflects the beliefs and values of the founders, their ethical values and communal beliefs and sets examples for the employees
• Integrity Every member of our organization behaves in an ethical manner. We will do the right things for the right reasons.