| Making a positive impact on your bottom line
On June 5th we celebrated the winners and finalists of the 2009 Apollo Awards. The Apollo Awards were created to honor organizations in the Washington, DC metro area that exemplify the best our region has to offer in the area of employee growth and development. One of the benefits of our involvement with these enlightened leaders is a chance to share their best practices with our broader community, including the positive impact these practices have on the performance of their organizations.
This year we were fortunate to have Market Connections conduct an in-depth survey of the organizations that were nominated. This survey will be developed into a white paper in the upcoming weeks and offered to all our readers. However, we wanted to take a moment to share some of the interesting facts revealed in the survey results, presented at the Apollo Awards by Lisa Dezzutti, President & CEO of Market Connections.
If you have any doubt as to whether employee development, performance management, metrics and rewards programs have a positive impact on your bottom line then this should allay those concerns. Despite the current economic conditions, 72% of our respondents reported an increase in operating income in the previous 12 months while 19% said operating income stayed the same. Only 9% reported a decrease.
Our survey also indicated that organizations providing coaching to their managers were more likely to have increased operating income while those who did not offer mentorships were less likely to see an increase. This is a strong argument for implementing a formal training and mentoring program within your organization.
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