Partnerships of any kind offer great rewards, ranging from the fun of working with good people, to synergies, to the creation of mutually beneficial opportunities. For our Team, partnering with other companies in talent management has been a source of exceptional value for our Customers by joining our respective technology platforms and predictive hiring solutions. By working together we extend our reach and ability to provide practical tools and useful solutions to even more customers while creating a superior return for both companies.
Business partnerships carry significant risk – just like any marriage or relationship. In fact, business partnerships carry a higher failure rate than marriage – with more than half ending unsuccessfully. Clearly, establishing a partnership is not as challenging as maintaining one that is mutually beneficial and evolves as the needs of the partner’s change.
Reflecting on these facts got our Team thinking about our unique approach to partnership. We have a vision, called Our Way, which states our promises to each of our stakeholders – including promises made specifically to our partners. These are the standards we hold ourselves accountable for upholding in each interaction with our partners – from our first introductory meeting throughout the entire relationship. Our promises to our partners are:
1. Integrity. We do what we say we will do.
2. Credibility. We provide professional excellence.
3. Balance. We understand each partner’s need to earn a profit.
The goal of these promises is to create an experience for our partner similar to the one we create for our Customers; that is, one that leaves them feeling valued and confident in their decision to work with us.
We believe that clear shared expectations of the partnership helps each partner to foster a more impactful and profitable relationship. What’s more, we evaluate potential partners by how they demonstrate these promises in their actions towards us.
By crafting a set of promises (integrity, credibility, and balance) we begin the process of ensuring accountability and mutual satisfaction with the partnership.
Partnership is about creating something more than the sum of its parts. It can be one of the most challenging business relationships to develop, just as it can be one of the most rewarding for our partners and our Customers. Our commitment to our vision, Our Way, and the promises we set for ourselves, provide a clear path for developing mutually beneficial partnerships.
We believe any action your organization takes will be more successful when it is grounded in a clearly articulated vision of what you want to achieve. To learn more, read our whitepaper, The 4A Model: A roadmap to Purpose-Driven Talent Management.