A Company's Greatest Asset
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Tony Sarsam, CEO for Ready Pac Foods, Inc., is a highly respected leader known for building a high-performance culture. Hear his lessons on the organizational strategy that put employees front and center, which was recorded at the Economic Club of Phoenix second monthly luncheon of the 2016-2017 season.
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A Company's Greatest Asset
- 1. 1 Tony Sarsam Chief Executive Officer Ready Pac Foods, Inc. Arizona State University Economic Club Luncheon November 10, 2016 A Company’s Greatest Asset
- 2. Today, I’d Like To Share 1. A bit about me 2. A little about Ready Pac Foods 3. The importance of focusing on people to improve the bottom line 4. Lessons from a handful of turns 5. What does it all mean?
- 3. 3 A Bit About Myself
- 4. My Career Path … 4 1985 - 2002 • Every job there was in manufacturing • Finance • Sales • General Manager (GM) • Sales Strategy National • Distribution Strategy 2003 - 2006
- 5. My Career Path … 5 2006 - 2010 • EVP Operations and Supply Chain • EVP Sales and Operations 2010 - 2013 • President 2013 - Present • CEO
- 6. 6 Staffing is key Service / quality always matter Must understand what really drives profit Turnaround Lessons in Every Job
- 8. Common Theme 8 People. People. People! 8
- 9. Lessons Learned 9 Communicate a vision … what’s important … quickly … and gain alignment Show people how to win … and ensure they know they are winners Focus most energy on people … what can be done for them, what culture drives performance, what values capture their hearts
- 10. A Little About Ready Pac Foods … 10 Giving People The Freedom To Eat Healthier™
- 11. History of Innovation & Industry Leadership 11
- 12. Ready Pac Foods Facilities 12 Corporate Headquarters & Processing Facility Florence, NJ Jackson, GA Swedesboro, NJ
- 13. Joining a New Organization as CEO 13 Critical to communicate a vision quickly and get people aligned to it Focused on taking care of people and assumed they would respond quickly to the vision I was developing Everything was going according to plan until … 113
- 14. 14 Textbook for all the things you could do wrong from a people perspective No communication within the organization Lack of personal accountability Limited regard for the frontline Associates Day 01
- 15. Invest in People … FAST! 15
- 16. Focus on People … 16 Build a team committed to winning1 2 Communicate … respect & transparency 3 Communicate … the vision 4 Celebrate great performance
- 17. Focus Hiring Great Generals 17 First Team 3 Right talent for the challenge
- 18. Communicate … Respect & Transparency 18 3 Wage Authority Monthly newsletter & quarterly videos Town Hall Meetings
- 22. Celebrate People & Success 22 3 Clear goals Clear path to winning Circle of Excellence (COE) Annual Management Conference (AMC)
- 23. People are the Keys to Success 23 Get the right leaders… and be the right leader Invest in people Recognize, reward and celebrate your people
- 24. 24 Questions?
- 25. Thank You
Editor's Notes
- Born in Sioux Falls, South Dakota Met my wife at band camp at age 14 Attended 17% of the Pac 12 Have five kids Have had a love affair with food for as long as I can remember This is what inspires me and motivates me. You need to do the same with your employees and learn what drives them.
- studies have shown that engaged employees are key to organizational effectiveness. So how do we engage employees? By investing in them…. Stats to share: 70% of U.S. workers are not engaged at work 89% of employers think their people leave for money; only 12% of employees actually do leave for more money Organizations with highly-engaged employees achieve 2x the annual net income of organizations whose employees lag behind on engagement Source: https://www.themuse.com/advice/10-shocking-stats-about-employee-engagement
- studies have shown that engaged employees are key to organizational effectiveness. So how do we engage employees? By investing in them…. Stats to share: 70% of U.S. workers are not engaged at work 89% of employers think their people leave for money; only 12% of employees actually do leave for more money Organizations with highly-engaged employees achieve 2x the annual net income of organizations whose employees lag behind on engagement Source: https://www.themuse.com/advice/10-shocking-stats-about-employee-engagement
- Communicating a vision quickly and getting people aligned to it immediately is critically important for any CEO joining a new organization. I have focused hard on our people, on what we do for them, on the culture we create, on the values to which we aspire. Those things make great companies, and the rest comes from the team. They will take care of the service, the products, and the quality.
- Our mission at Ready Pac Foods is giving people the freedom to eat healthier. That’s what we’re driving towards. Some facts & figures… Founded in 1969; Pioneer in fresh Private equity owned National distribution 45 years of convenient fresh foods We’ve come a long way, even since my first day on the job….
- Labor and union issues Wages were low, no raises People not treating each other with respect Company in the red
- Business starts and ends with people – without them, you have nothing Hire good generals who hire good lieutenants who hire good privates – it’s a trickle down effect People must respect each other; that includes safety too – telling an employee “I want you to be safe” is priceless, follow the “golden rule” and treat others how you want to be treated You need to show employees the roadmap to success, implement a process and deliver on the promise – e.g. wage increase plan Employees respond well to recognition and praise; show them you care and praise their efforts and results
- Supervisor doesn’t know name of people No communications at all CEO never visited the plants