Director Mark Loftus was invited to contibute to a supplement for The Times on Business Ethics. The stimulating article by Michael Dempsey explores the impact of companies linking an ethical stance to their brands, looking at the likes of Marks & Spencer and their environmental 'Plan A' branding and the John Lewis Partnership's 'fair' Never knowingly undersold price promise.
Mark commented on the postive effect a brand's ethical values can have on staff and the company as a whole:
Mark Loftus is a clinical psychologist by training who runs a
leadership
consultancy, The Thinking Partnership. His role is to help major
businesses select the appropriate people for top posts and for Mr
Loftus the value a brand gains from being associated with ethical
practice is as much internal as external.
"I'm always struck by client after client who benefits from what
we call 'discretionary performance'."
Discretionary performance is the concept whereby staff who feel a
strong affinity for the company's ethical values put more effort in
at work. Mr Loftus reckons discretionary performance boosts
productivity by 10 per cent. "This emanates from people feeling
connected with the brand they represent. And it translates into
lower staff turnover and thus lower recruitment costs. The brand
itself is the means of getting this discretionary effort from
employees. So ethics and success are two sides of the same
coin."
While The Times has taken the bizarre decision to make their online content subscription only, the supplement was published by Raconeur media who fortunately embrace the web!