Continue to grow your people
Addy says people are the key to growth, and he has built the company’s culture around developing ways to grow their skills and capabilities. Several new initiatives have been integrated at PECO over
the last few years to help associates grow.
“You don’t have to search long to find out that the way you’re going
to get there is through people and building around your people so
that you’re providing a culture that allows people to be challenged
and where they can grow and learn,” Addy says.
For example, an associate is assigned a buddy after he or she is
hired to help the new hire get acclimated to the company. The buddy
can introduce the new employee to others, teach him or her the little things, like how to use the copy machine, and be there to answer
questions. The program lasts the first few weeks.
Since implementing this almost two years ago, PECO has seen efficiencies from new associates because they have someone to go to
with questions. It also provides a learning experience for the person
serving as the buddy.
Another initiative is a two-day orientation program at one of the
three offices led by Addy, Phillips and Edison. Phillips and Edison
will discuss the company culture and vision, while Addy will discuss
the business model and the execution of it.
This gives employees an opportunity to sit with the company leaders and ask them questions.
On-the-job training is another initiative at PECO. The company has
been working the past two years on more than 20 applications used
within the PECO University training program for employees to learn
topics, such as “how to read a financial statement” or “how to understand a lease.”
Addy says these applications develop associates and allow for better internal training than using an outside company.
Employees are also invited to PECO’s annual meeting, which
includes a mix of business and fun. Adventure races have been set
up for employees to compete in, including one that took place in
New York City to help them learn more about the city, while another was an outdoors race in Moab, Utah. These races take employees
out of their comfort zone and challenge them and also help them
build communication and planning skills.
Being able to develop similar initiatives requires time, effort and
resources.
“It’s going to take time to evaluate, and it’s not something you can
pick up a chart and necessarily see how well you’re doing it,” Addy
says. “You have to be patient and keep that intensity for a sustained
period of time, and then you’ll see the results come through.”
PECO’s growth is not stopping. The company typically sees a 20
percent growth rate each year, and Addy expects it to continue as
work is done and initiatives are developed to continue building the
platform.
“Try to have some fun,” Addy says. “You need to provide energy for
the organization, and as you’re growing and taking these steps, you
have to provide an environment where people want to work, enjoy
working and have fun working. So work hard and have fun.”
HOW TO REACH: Phillips Edison & Co., (513) 554-1110 or www.phillipsedison.com
