Behind the Apron: Discover the secrets that made this company one of the best places to work in its industry!

FROM THE DESK OF MILES EVERSON: Welcome to this week's edition of "Return Driven Strategy (RDS)!" As someone with over 30 years of experience in the business and consulting industries, I've found RDS to be a game-changer in managing my team. For those who aren’t familiar, RDS is a pyramid-shaped framework composed of 11 tenets and 3 foundations that enable businesses to achieve high levels of performance. That's why every Tuesday, we publish articles about RDS to empower leaders and managers in today's ever-changing business landscape. Today, let's delve deeper into the 9th tenet of RDS: Engaging Employees and Others. Read on to discover the importance of incentivizing the employees for your firm. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

Behind the Apron: Discover the secrets that made this company one of the best places to work in its industry! The Cheesecake Factory is known for its great customer service and extensive menu that caters to every palate. Founded by David Overton in 1978, the iconic restaurant chain is known for featuring a diverse range of dishes, particularly its decadent and extensive selection of cheesecakes, coupled with a lavish and upscale dining atmosphere. However, did you know that aside from serving great food and delectable desserts, The Cheesecake factory stands out as a place to build a career in? According to Overton, fostering employee trust and engagement is crucial to keeping staff happy. That’s why he’s instructed the upper management of his company to have a caring attitude towards its employees. The instruction is more than just a verbal directive, as the firm, through its policies, has fostered a workplace environment that is attentive to its employees’ needs. For example, the firm provides its employees with a comprehensive benefits package that includes health insurance, access to wellness programs, contributions to retirement plans, family and parenting support, and employee-exclusive discounts. Aside from those benefits, servers and kitchen staff of The Cheesecake Factory receive comprehensive training programs. Those who want to fill a higher position or role in the company are given the chance to undergo developmental courses. Due to the company’s efforts and commitment to its employee-oriented policies, the restaurant chain has consistently appeared on Fortune’s “100 Best Companies to Work For” list since 2016. According to a former employee, despite working long hours and having lots of regulations to follow when it comes to preparing and serving food, staff love working for The Cheesecake Factory. Based on the former staffer’s eyewitness account, many of the servers employed at the restaurant chain have worked for the company for years, and most of the management positions were filled by individuals who had moved up from server and kitchen positions. Employees of the firm also say the firm makes it a point to acknowledge and celebrate staff achievements. Based on the testimonials above, it’s reasonable to say that The Cheesecake Factory is a great place to work and build a career in. The Cheesecake Factory and RDS Tenet 9 The Cheesecake Factory’s employee-centric policies and the results of its implementation can be explained through RDS’ ninth tenet: Engage Employees and Others. According to Professor Joel Litman and Dr. Mark L. Frigo in the book, “Driven”: “High-performance firms treat their employees like customers, understanding exactly what services they would like to receive from employees, and designing incentive systems that fulfill employees’ needs in order to get those services.” After acknowledging the non-monetary motivations of its employees, The Cheesecake Factory came up with policies that fulfilled worker needs. Due to this, the company was able to create a work environment where employees are fully engaged and motivated. — If you’re looking to gain a better understanding of Return Driven Strategy and Career Driven Strategy, we highly recommend checking out “Driven” by Professor Litman and Dr. Frigo. Click here to get your copy and learn how this framework can help you in your business strategies and ultimately, in ethically maximizing wealth for your firm. Hope you found this week’s insights interesting and helpful.     Before the days of what we currently know as streaming services, movie rental businesses stood as the undisputed giant in the entertainment industry, defining the way people consumed movies. Learn more about the Blockbuster case study as seen through the lens of Return Driven Strategy in next week’s article!