SALT LAKE CITY — Franklin Covey Co. (NYSE: FC), a global firm specializing in organizational performance improvement, announced today that it has presented its first FranklinCovey Excellence in Execution Award to Wegmans Food Markets Inc., a family-owned, supermarket chain with 92 stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts, and one of the largest private companies in the U.S.
Bob Whitman, FranklinCovey CEO, said, “It is with excitement that FranklinCovey honors Wegmans with our first Execution in Excellence Award and to continue to partner with them. Not only have they exhibited excellence in executing on their strategic goals year after year, but they have created a high-performing culture, where employees’ talents are unleashed, recognized, and appreciated. Wegmans continues to be recognized for their great performance and their extraordinary workplace.”
Using FranklinCovey’s The 4 Disciplines of Execution® methodology, Wegmans achieved the highest overall Execution Performance Score out of more than 1,000 FranklinCovey clients worldwide. The composite score for Excellence in Execution is based on the performance of four metrics:
1. The percentage of individuals within the organization that make commitments weekly toward the achievement of their teams’ Wildly Important Goal.
2. The percentage of those commitments that are achieved on a weekly basis.
3. The performance on Lead Measures which the team determines are necessary to the achievement of the Wildly Important Goals.
4. The performance against the Wildly Important Goals across the organization.
For more than 15 years, the FranklinCovey Execution Practice has worked with more than 140,000 teams and 2,500 clients in hundreds of organizations in every kind of industry, as well as in schools and in government agencies worldwide, in implementing The 4 Disciplines of Execution process. Founded on that process, FranklinCovey’s Excellence in Execution is awarded to the FranklinCovey client that achieves the highest Execution Performance Score as measured by The 4 Disciplines of Execution® Operating System (4DX0S.com).
“This process has brought focus, accountability and engagement to our work, and results that benefit our customers and our people,” said Wegmans’ president & CEO, Colleen Wegman. “We are proud to work with such a quality organization and believe in their mission and vision.”
FranklinCovey’s Excellence in Execution Award is certainly not Wegmans’ first recognition for excellence as an organization. The supermarket chain was named one of the “100 Best Companies to Work For” by Fortune magazine for 20 consecutive years, ranking #2 in 2017. Fortune’s list is based on employee ratings of their workplace culture, including the level of trust they feel towards leaders, the pride they take in their jobs and the camaraderie they experience with co-workers. Additional recognitions and awards Wegmans has received include:
- Ranked #2 for Corporate Reputation among the “100 most visible companies,” nationwide according to the 2017 Harris Poll Reputation Quotient® study. February 2017
- Ranked #4 on Forbes magazine’s 2016 list of America’s Best Employers
- Ranked #1 on Fortune magazine’s 2016 The 15 Best Companies to Work for in Retail
- Ranked #6 on People magazine’s 50 Companies That Care 2017 list
- A study of more than 10,000 consumers nationwide conducted by Market Force Information in April 2016 concludes that Wegmans is America’s Favorite Supermarket
Chris McChesney, the Global Execution Practice Leader, FranklinCovey, said, “Not only is Wegmans a model of innovation for thousands of companies around the world, they are also a model of organizational execution and human engagement for all of our clients. They set a few strategic, Wildly Important Goals, they separate those goals from the Whirlwind, which is the urgent activity it takes to keep the organization running every day, and they consistently execute on those goals, no matter what, which is why they achieve breakthrough results, again and again.”
The 4 Disciplines of Execution process is based upon the Wall Street Journal bestseller The 4 Disciplines of Execution: Achieving Your Wildly Important Goals, authored by Chris McChesney, Sean Covey, and Jim Huling. The process provides a simple, repeatable, proven formula for achieving the goals that an organization must reach. It allows leaders to effectively deal with the most difficult aspect of creating breakthrough results: executing a strategy that requires a change in human behavior.
The process provides organizations with a framework for creating a culture of performance. It focuses on leaders getting people and teams to align their efforts in doing the right things at the right times – the wildly important goals, initiatives, projects, and tasks that are most critical to the organization. By changing the way team members engage with each other to achieve the goals, managers can dramatically improve the impact of their team’s performance. The 4 Disciplines of Execution are as follows:
1. Focus on the Wildly Important: Give best effort to those few goals that really matter instead of giving mediocre effort to dozens of goals.
2. Act on Lead Measures: Carefully track the lead measures and let the lag measures take care of themselves.
3. Keep a Compelling Scoreboard: Ensure everyone knows the score at all times so they can tell if they are winning or not.
4. Create a Cadence of Accountability: Hold frequent, regular accountability sessions to advance the Wildly Important Goals.
Included in the process is FranklinCovey’s 4DXOS, an online tool fully designed to support The 4 Disciplines of Execution methodology. It allows organizations to track commitments and goal achievement, provides a cadence of accountability to both organizations and individuals, and ensures overall success in achieving superior results.
For more in-depth information on FranklinCovey’s 4 Disciplines of Execution and to see other success stories, visit https://www.franklincovey.com/Solutions/Execution.html. To learn more about Wegmans, visit https://www.wegmans.com/news-media.html.
ABOUT THE FRANKLINCOVEY EXECUTION PRACTICE
Franklin Covey Execution Practice provides practical processes to organizations and teams so they know what the wildly important goals of the organization are and how to achieve them, how to track success, and how to be accountable for creating extraordinary results. For more information on The 4 Disciplines of Execution, visit https://www.franklincovey.com/Solutions/Execution.html.
ABOUT FRANKLIN COVEY CO.
Franklin Covey Co. (NYSE: FC) is a global, public company specializing in organizational performance improvement. We help organizations and individuals achieve results that require a change in human behavior. Our expertise is in seven areas: leadership, execution, productivity, trust, sales performance, customer loyalty and education. Franklin Covey clients have included 90 percent of the Fortune 100, more than 75 percent of the Fortune 500, thousands of small and mid-sized businesses, as well as numerous government entities and educational institutions. Franklin Covey has more than 100 direct and partner offices providing professional services in over 150 countries and territories.
Source: Franklin Covey Co.
