Business & Management Blog

Does investing in people work?

"Dairy Crest in Liverpool, England, is the Uk's leading chilled dairy foods company and one of the 10 largest food companies in the UK. But in 1999, processes were out of control and quality was variable. The owners had two choices: close or get their act together. They chose the latter and went down the road of investing in and involving the workforce by developing their skills, particularly in teamwork and continuous improvement. In 2003, the organisation was highly commended as the Best Process Plant in the British Institute of Mangement's awards for manufacturing. By 2004, plant efficiency rose nearly 50%, waste plunged, service levels reached 99.5% and labour turnover was a negligible 0.5%. Dairy Crest continues to prosper. In 2008, dividends were up 6.8%, earnings per share rose 17%, pre-tax profits rose 24% and sales were up 20%." from Kris Cole Management Theory and Practice on Satisfying the quality and continuous improvement imperatives.


Understanding leadership


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