Frank Koller has written Spark: How Old-Fashioned Values Drive a 21st Century Corporation. Lincoln Electric, in Cleveland, Ohio refuses to lay off its employees in tough times. The company has a century-long record of profitability and innovation.
In fact, Lincoln Electric has 6 core values and none of them refer to a no-layoff practice. These values are:
- Be customer-centric
- Value your team
- Reward Performance
- Be financially prudent
- Respect the environment
- Support local communities
This is very much an order of priority. Only by applying these values in a tough-minded way will success he achieved. #3 is the lever by which a climate of success is maintained and enhanced. It is not solely rewarding the good performers but ensuring that unsatisfactory performance is identified and corrected.
See the Lincoln Electric Spark for more details.