EXCELLENCE
Peters’ book, he wanted to transform “every inhuman account
number into a fully engaged member of our family.”
Hill accomplished this feat by taking a completely unorthodox
approach in everything he did—from remaining open seven
days a week to instituting a dog-friendly policy to teaching
employees to never say “no.” His methods worked, with
thousands coming out for splashy, new branch openings and
the growth of Metro Bank’s customer base to more than one
million accounts. The bank’s attention to customer service—
delivering banking in fun and unconventional ways—not only
benefited the bank but also helped create thousands of
well-paying jobs. That accomplishment is even more impressive
given that the banking industry is in the top decile of software
automation.
Peters refers to this type of outcome as an “Excellence
Dividend,” essentially saying that businesses that commit to
excellence in both their internal and external dealings are likely
to be the survivors. “They are better and more-spirited places to
work,” says Peters. “Their employees are engaged and growing
and preparing for tomorrow. Their customers are happier and
inclined to spread tales of their excellence far and wide.”
Even their communities and vendors are rooting for them. If
each of these small companies is able to add one or two
employees to the payroll due to their reputation for excellence,
millions of jobs could be added to the economy, Peters notes.
One of the keys to creating the type of excellence Hill achieved
is continual training, which can take the form of online or
in-person courses, professional training classes, or even just
relevant business reading, Peters says. Unfortunately, business
owners still treat training as an expense rather than an
investment in their employees—an investment that can lead to
greater job satisfaction, enhanced productivity, better pay, and
increased loyalty.
“There is a national imperative, whether you have six employees
or 666, to ensure that an employee who leaves your
organization is not only better at doing his or her job but also is
better prepared to be a citizen of this topsy-turvy world than
they were before walking in the door,” says Peters. “You have a
moral obligation to help them become well-equipped for
tomorrow.”
Peters describes a recent scenario in which, in the midst of a
“100-year storm” in his home state of Massachusetts, he was
forced to summon a refrigerator repairman to fix a broken
compressor. Not only did the repairman come out during severe
weather, but he revealed that he had just completed a three-
week training course on artificial intelligence to stay on top of
fast-changing compressor technology. “That’s my ideal,” says
Peters. “Regardless of what comes, that gentleman has a
future.”
6 | TULIPMEDIAGROUP.COM
Peters harkens back to his days as a parent of young children
when, he says, “there were third-grade teachers you would walk
through gunfire for—that’s how spectacularly they treated your
children—while others would enter their classroom as if
punching a clock.” A great teacher probably has a great principal
who gives him or her the tools they need and makes them feel
like they are doing a worthwhile job, he points out. These are
teachers who don’t just teach to a test but also understand that
if there are 17 kids in the class, each one is different than the
other 16 and needs to be treated differently. Leaders who
recognize this type of individuality can nurture employees with
real staying power, he says.
The call for customized treatment of employees comes hand-in-
hand with the recent shift in thinking that favors liberal arts
majors—with their creative thinking, writing, and analytical
skills—over pure technology students, Peters notes.
Publications from the Harvard Business Review to Fast Company
to Forbes have touted the emerging status of these graduates,
with Forbes asserting in a 2015 article by George Anders that
the “useless” liberal arts degree “has become tech’s hottest
ticket.”
Peters is well-known for his bias toward action in the
workplace—a favorite philosophy he attributes to Fred Malek,
his boss from 1973 to 1974 while working in the White House
Office of Management and Budget. In his new book, Peters
reasserts the importance of the “Eight Basics,” which he
originally cited in his first book, In Search of Excellence, as the
bedrock of success:
1. A BIAS FOR ACTION
2. CLOSE TO THE CUSTOMER
3. AUTONOMY AND ENTREPRENEURSHIP
4. PRODUCTIVITY THROUGH PEOPLE
5. HANDS-ON, VALUE-DRIVEN
6. STICK TO THE KNITTING
7. SIMPLE FORM, LEAN STAFF
8. SIMULTANEOUS LOOSE-TIGHT PROPERTIES
Of these, A Bias for Action deserves its top billing, even more
emphatically than before, says Peters. He devotes a good chunk
of The Excellence Dividend to addressing the merits of what he
calls WTTMSW, Peters-speak for Whoever Tries the Most Stuff
Wins. This, he says, is “the only thing I’ve learned for sure in the
last fifty years.”
The best example in the business world was the early Silicon
Valley competition between software rivals Apple and
Microsoft. While Microsoft was quick to launch new products at