Farm Journal intelligence provides ag professionals with informed insights, and marketplace suppliers with essential data to identify and engage them. In a recent MediaGrowth Excellorator presentation, CEO Prescott Shibles outlined
the data driven approach the company uses to assess and maximize the impact of its team through the development of culture. Here are a few of the points he highlighted:
From 1998 to 2023 the 100 Best Companies to Work For produced cumulative returns that beat the market by a factor of 3.36 (FTSE Russell analysis 2023).
Weak company cultures deliver returns at the other end of the spectrum.
Strong company cultures use tools that make it safe to be honest. Farm Journal uses Energage surveys to anonymously collect employees’ ideas for improvement, feelings about stress and workload, desire for training and promotion, and general satisfaction with how they are valued.
Fear of management can create the appearance of harmony and alignment, but often results in the lack of honest communication, intellectual bravery and innovation. Farm Journal was able to identify and remedy factors that significantly reduced employee turnover and improved productivity.
Weak company cultures are prone to
exhibit:
Excessive optimism
Overconfidence about ability
Confirmation bias (under-weighing info that goes against a particular position)
Aspiration-based
risk taking (taking imprudent risks to achieve a goal)
Lack of information = Lack of trust
Farm Journal's Action Plan:
Build trust (regular, transparent, honest communication)
Resolve conflicts (leader/manager training to deal with issues)
Commit to change (reward accountability)
Improve accountability (implement Objectives and Key Results)
Drive results (resource groups, innovation
challenges, celebrations)
Books that Prescott recommends:
Escape Velocity (Geoffrey A. Moore)
Think Again (Adam Grant)
The 1 Page Business Strategy
(Marc Van Eck and Ellen Leenhouts)
The Five Dysfunctions of a Team (Patrick Lencioni)
Thank you to Edisource for summarizing the recording of this
MediaGrowth Excellorator Presentation.
And It's Time to Register For
MediaGrowth Executive Summit 2025
EXCELLORATE!
February 4th and 5th
InterContinental Hotel at Doral - Miami, Florida
AGENDA
REGISTER
