john-lewis-partnership-plc-annual-report-2015

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John Lewis Partnership plc Annual Report and Accounts 2015
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PRINCIPLE 1
PURPOSE
BUILDING A STRONGER,
HAPPIER BUSINESS
Principle 1 of our Constitution states that “The Partnership’s
ultimate purpose is the happiness of all its members, through
their worthwhile and satisfying employment in a successful
business. Because the Partnership is owned in trust for
its members, they share the responsibilities of ownership
as well as its rewards – profit, knowledge and power.”
Our principle in action
As an employee-owned business, our
Partners receive a share of profits in the
form of a bonus, a wide selection of benefits,
opportunities to increase their knowledge
and a voice in how the business is run.
This helps make our jobs more satisfying and
is part of what makes us successful.
A study carried out by Cass Business School 1
backs this up. It shows that employeeowned
businesses (including the John Lewis
Partnership) tend to be more profitable and
resilient. The research found that employeeowned
businesses consistently recruit more
employees and reward them with higher wages.
Investing in Partners creates
value for our business
Investing in our Partners’ happiness makes us
stronger both as individuals and as a business.
In 2014, we carried out some research to
establish how investment in Partners generates
greater value for the Partnership. Specifically,
we wanted to look at customer satisfaction.
We studied personnel data, financial results and
customer satisfaction scores and found that:
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There is a positive relationship
between Partner job satisfaction
and customer satisfaction.
The more Partners reported feeling
recognised for doing something well and
that our ideas to improve the business
are welcome, the higher the level of
customer satisfaction.
I THINK WHAT MAKES OUR
BUSINESS DIFFERENT IS
THE PRIDE WE TAKE IN REALLY
KNOWING OUR STUFF AND
PROVIDING CUSTOMERS WITH
THE BEST POSSIBLE SERVICE.
THIS PRIDE IS REALLY
DRIVEN BY THE SENSE OF
OWNERSHIP AND BENEFITS
WE SHARE.
Nadia Hassan
Section Manager, John Lewis, Oxford Street
The research concluded that the link between
Partner data and customer satisfaction ratings
for each Waitrose and John Lewis shop in the
UK validates our Partnership model as a basis
for good customer service. See the full report
at www.johnlewispartnership.co.uk.
Our Partner advocacy score – that’s the
number of us that recommend the Partnership
as a ‘great place to work’ – has consistently
put us among UK market leaders
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www.cassknowledge.com/inbusiness/feature/
employee-owned-businesses