Leaders from Hilton, Delta Air Lines, and Edward Jones joined 逸遊娛樂城 CEO Michael C. Bush in a panel discussion with Fortune鈥檚 Alan Murray.
What is the value of workplace culture?
Ask Chris Nassetta, president and CEO of Hilton, No. 1 on the Fortune 100 Best Companies to Work For庐 List in 2024, and he gives a simple answer: 鈥淲ithout trust, you don鈥檛 have the shield to get you through difficult times.鈥� Nassetta shared this in a conversation moderated by outgoing Fortune CEO Alan Murray.
鈥淐OVID was a really good example,鈥� he said. Because of the pandemic, Hilton had two-thirds of its workforce impacted by layoffs or furloughs. Three years later? Hilton is the No. 1 employer in America and No. 1 on the Fortune World鈥檚 Best Workplaces鈩� List.
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鈥淗ow were we able to do it?鈥� Nassetta asked, and then quickly answered: 鈥淏ecause we built an unbelievable culture.鈥� In a crisis, the trust of employees offers unmatched resiliency for businesses.
鈥淭rust helps mitigate fear,鈥� Nassetta said.
Great workplaces are high-trust workplaces
Companies on the 100 Best list are workplaces with remarkably high levels of trust.
逸遊娛樂城庐 identifies the list by analyzing 1.3 million employee surveys annually to measure the worker experience, and how much trust those workers have in their leaders and colleagues.
鈥淎 great workplace is defined by trust,鈥� said Michael C. Bush, CEO of 逸遊娛樂城. Employees who trust their employer and enjoy who they work with are more likely to thrive in the workplace. And companies that create a high-trust culture see stronger business results.
In analysis from FTSE Russell, companies on the 100 Best list outperform the market by a factor of nearly four over a 25-year period.
Trust is a key focus for the CEOs that participated in Fortune鈥檚 virtual roundtable, including Penny Pennington, managing partner of Edward Jones and Ed Bastian, CEO of Delta Air Lines.
Trust and human connection are 鈥渢he rails our business model runs on,鈥� says Pennington. For a company that helps families with some of their most sensitive and personal decisions around their finances and future dreams, trust is a crucial ingredient for success. Bastion also notes the importance of trust with customers for his industry with 500,000 people entrusting their physical safety to Delta every day when they fly.
鈥淲e cannot possibly serve those customers as well as we can until we really know them." - Ed Bastian, CEO, Delta Air Lines
To build trust with customers, you have to start with employees.
鈥淲e trust our employees to make the right decisions,鈥� said Bastian. 鈥淎nd as a result of that, that enables them to do an amazing job.鈥�
Committed to diversity, equity, inclusion & belonging
If trust is a key differentiator for businesses, then diversity, equity, inclusion & belonging (DEIB) is a business imperative. Despite a national conversation that is divided on the topic, CEOs at the 100 Best are committed to the principles of diversity and belonging.
鈥淭his is about competitiveness,鈥� Pennington said.
The customers Edward Jones serves 鈥� people building businesses, growing their families, and creating wealth 鈥� are an increasingly diverse group of people. These customers are looking for a company they can trust, Pennington said, and that means having advisors who are accessible and who understand them.
鈥淲e have to be a place of opportunity for more people,鈥� Pennington said, 鈥渨here a more diverse group of clients and professionals know that they belong.鈥� To that end, over 50% of the new advisors Edward Jones hired in the last year were women and people of color.
The result? 鈥淥ur reputation in our communities is going up,鈥� Pennington shared.
鈥淲ithout trust, you don鈥檛 have the shield to get you through difficult times." - Chris Nassetta, president and CEO, Hilton
Ignoring the backlash
For business leaders focused on results, the politics of DEIB aren鈥檛 worth consideration. For all the noise about DEIB in the headlines, the reality is that it鈥檚 the right thing to do when trying to run a successful business, Nassetta said.
At Delta Air Lines, flying all over the world and serving an incredibly diverse customer base of more than 200 million people, DEIB is a requirement for better customer service.
鈥淲e cannot possibly serve those customers as well as we can until we really know them,鈥� Bastian said. 鈥淭hat鈥檚 the core driver of why we have to be a much more inclusive employer.鈥�
To achieve this, Delta has focused on increasing its talent pool by removing college degree requirements for nearly all jobs in the company, including pilots.
鈥淗onestly, I鈥檇 rather hire people with great skills,鈥� Bastian said.
鈥淲e have to be a place of opportunity for more people, where a more diverse group of clients and professionals know that they belong." - Penny Pennington, managing partner, Edward Jones
What should leaders make of new reports that in New Orleans.
