Couple of British examples of what should be the standard for modern business:
Julian Richer, founder of Richer Sounds (hifi store in the UK), seems like one of the better capitalists around. He signed over majority control of the company to an employee trust when he turned 60, donates 15% of their profit to charity, runs a nonprofit dedicated to exposing corporate tax avoidance, campaigns against zero hours contracts, and devotes company resources to promoting unsigned bands: https://en.m.wikipedia.org/wiki/Julian_Richer
James Timpson recently stepped down as CEO of Timpson, another UK retailer that specialises in things like key cutting, shoe repairs, passport photos etc. He made it company policy to hire people who had been to prison and help them get back on their feet, and his campaign for prison reform saw him step down from the company to become Minister for Prisons in the current government. The company has a “Director of Happiness” who is paid to keep the front line staff happy, resulting in policies like getting the day off work on your kid’s first day of school, compassionate leave for the death of a pet, etc. https://en.m.wikipedia.org/wiki/Timpson_(retailer)
Timpsons apparently has really interesting business models.
A friend of mine has worked on a few of their conferences, and apparently it’s both fascinating and they come across as a genuinely wholesome business.
It’s a franchise, but the franchisee (ie the shop) has complete control over what they sell and what services they provide (I dunno if there are any guard rails). So if they want to offer dry cleaning, they can. If they want to offer phone repairs, they can. If they want to only partially offer something, then they can rely on the Timpsons service network to provide the actual service (so dry cleaning without owning dry cleaning equipment).
The management teams delegate authority but retain responsibility and we have only 2 rules:
Look the part
Put the money in the till
And apparently they look after their staff really well. Actually good/useful perks & benefits. In addition to the compassionate leave you’ve mentioned, I’m sure my friend said something about timpsons owning some property that they allow their staff to book for free (like free accomodation for holidays). Or maybe they do block bookings of stuff, or something. I wasn’t hugely paying attention tbh.
Couple of British examples of what should be the standard for modern business:
Julian Richer, founder of Richer Sounds (hifi store in the UK), seems like one of the better capitalists around. He signed over majority control of the company to an employee trust when he turned 60, donates 15% of their profit to charity, runs a nonprofit dedicated to exposing corporate tax avoidance, campaigns against zero hours contracts, and devotes company resources to promoting unsigned bands: https://en.m.wikipedia.org/wiki/Julian_Richer
James Timpson recently stepped down as CEO of Timpson, another UK retailer that specialises in things like key cutting, shoe repairs, passport photos etc. He made it company policy to hire people who had been to prison and help them get back on their feet, and his campaign for prison reform saw him step down from the company to become Minister for Prisons in the current government. The company has a “Director of Happiness” who is paid to keep the front line staff happy, resulting in policies like getting the day off work on your kid’s first day of school, compassionate leave for the death of a pet, etc. https://en.m.wikipedia.org/wiki/Timpson_(retailer)
Timpsons apparently has really interesting business models.
A friend of mine has worked on a few of their conferences, and apparently it’s both fascinating and they come across as a genuinely wholesome business.
It’s a franchise, but the franchisee (ie the shop) has complete control over what they sell and what services they provide (I dunno if there are any guard rails). So if they want to offer dry cleaning, they can. If they want to offer phone repairs, they can. If they want to only partially offer something, then they can rely on the Timpsons service network to provide the actual service (so dry cleaning without owning dry cleaning equipment).
https://www.timpson.co.uk/about-timpson
And apparently they look after their staff really well. Actually good/useful perks & benefits. In addition to the compassionate leave you’ve mentioned, I’m sure my friend said something about timpsons owning some property that they allow their staff to book for free (like free accomodation for holidays). Or maybe they do block bookings of stuff, or something. I wasn’t hugely paying attention tbh.
franchisee*
Editted
Plus their stores smell even better than petrol.