3 Things Stakeholders Really Want from You

Sometimes business coaching leads us to focus on some very simple things. So simple, in fact, that we might forget sometimes just how important they really are … like going the extra mile to make sure you’re treating people really well.

Who would those “people” be? Anyone you interact with … your clients, customers, employees, independent contractors, vendors, alliance partners … in other words, your “stakeholders.”

Case in point …

Last week, I was approaching my favorite Italian restaurant in Puerto Aventuras, Mexico … my home away from home … when I see Marco, my favorite waiter, running up to me to give me a hug! As we chat, I ask him how long he’s been working at O Sole Mio now. Three years … and he’s clearly very happy!

I don’t know if you’re seeing the same phenomenon, but I’ve noticed folks like waiters and other gig-type workers in the service industry moving around a lot, especially in this time since COVID. And as a business coach, I couldn’t help but think about what’s kept Marco in that position as long as he’s been there!

Last winter, as Tom and I sat in this same restaurant, I watched the waiters and waitress perform this beautifully executed dance, serving customers with ease and grace. They clearly had all been there long enough to know the system, know each other, and know what worked and what didn’t.

As we were leaving, we stopped to talk with Fabrizio, the owner. I commented on how wonderfully trained, coordinated, and choreographed his staff was and asked him his secret.

He said, “I treat them well. I pay them well. And I feed them well.”

Those words have stayed with me and become a bit of a mantra for how we, as business owners, want to behave.

The bottom line:

Are you treating your stakeholders well … with fairness and respect?

Are you paying them well … so they feel valued and appreciated?

Do you feed them well … with words of appreciation?

Notice a couple of things. It’s not all about money. That’s not to say money isn’t important. It is. But working in a pleasant environment where you’re treated well and your efforts are valued is often just as, if not more, important to stakeholder satisfaction and loyalty than straight monetary compensation.

Survey after survey shows how highly folks value these intangibles.

So, be nice, be kind, be thoughtful, be generous, and be appreciative whenever people are deserving.

And, while I get that’s not always, that’s most people most of the time. So, why not adopt it as your default way of being … if you haven’t already … adjusting on a case by case basis, as needed?

You’ll not only feel good about it, it’ll win you a ton of appreciation, loyalty, and support.

And in today’s crazy world, that goes a long way.

Warmly,

I’ll Treat You Well … Pay You Well … and Heck, I’m Italian … I’ll Even Feed You Well!

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