Taking care of employees’ child care is just good business

The tenets of free market capitalism and meeting human needs to go hand in hand

THROUGHOUT my career, first as young entrepreneur in the late 1 0s and now as the head of a nonprofit organization and presidential center, I’ve always been focused on the team. hen you hire smart, mission-oriented people, recognize and cultivate talent, set high expectations and feed your winners, you’re nearly guaranteed that the enterprise will succeed.

In the early days, my partners and I gave little thought to our benefits package outside of the basics health care and retirement savings. e wanted the best for the team, so we picked the plans that offered the most support in those areas.

And that was that. e joked that if you offered the best plans available, your need for a human resources division was significantly diminished.

These days, I’m thinking a little differently. In today’s competitive war for talent, firms survive by attracting and retaining the best.

At the George . Bush Presidential Center, I work in an office with around

0 people who are fiercely committed to our mission and the values that guide our work, freedom, opportunity, accountability and compassion. I recognize that our benefits package is more than just a grab bag of goodies. It reflects the firm’s standards and priorities. It is a statement made by the firm’s leadership. Every aspect of the work environment says something to the team. Cash compensation, policies to promote work-life balance, flexibility, trust and communication form the mosaic illustrating the firm’s culture.

A successful organization requires a team that feels valued by its leadership. Given the pressures and pace of change that we ask our teams to navigate, leaders should understand the full extent of life’s challenges. A team member who is worried about a child or is otherwise distracted by a serious issue outside of work will not be a peak performer. Similarly, leaders must understand that all people need some downtime to recharge without feeling that they are falling behind in their work. A biweekly paycheck cannot meet these needs alone.

Like other leaders across the United States are recognizing, the pandemic has shown me that while it is easy to talk the talk, it is more important to walk the walk. Supporting our workforce with benefits that demonstrate how much we value them is good practice for any organization seeking success.

That’s why I recently decided to review the Bush Center’s benefits plan. Taking care of our employees has always been the highest priority for our leadership team. e have a dynamic and talented workforce, and as anyone who is in a hiring position now knows, it is important to hold on to them. Employee turnover is disruptive and expensive.

e also have a young workforce, and many of them are starting families or raising young children. To offer support for the stressors outside of work, we added a child care subsidy. e also extended the subsidy for those employees who tend to dogs during business hours.

hile I believe that working together in person is critical to building a cohesive team, I also recognize that my colleagues work hard and need a chance to recharge. That’s why we’ve made July a work-fromanywhere month and have implemented a mandatory office closure for a week in August for the entire team.

These benefits are in addition to market compensation, 01(k) matching, professional development programs, a sabbatical program and a generous parental leave policy for both men and women with newborns.

Importantly, no government mandate made me do this. It is a sound executive decision from a leadership team that is focused on costs, productivity and culture.

Taking this approach is just good business. Attracting talent requires an appreciation for the work environment into which you are asking people to jump with both feet. Compensation is more than just cash. All currencies at a firm’s disposal need to be used, further distinguishing an organization from its competition. These are building blocks of a good corporate culture.

Amid the pandemic, there is a lot of discussion regarding the changing landscape of work. hile firms review where their workforce will be located, some aspects of the workplace are non-negotiable. Leadership

must galvanize a team’s focus around a core mission and an execution plan while continuing to invest in its people. COVID has not changed these imperatives.

In fact, it has only served to magnify their importance. As arren Buffett famously said, when the tide goes out, you can see who is swimming naked. hen times are tough, an organization with a strong culture and a dedicated team can flourish. Given the uncertainty and pace of change that we all now must navigate, this is truer than ever.

At the Bush Center, we respect that the tenets of free market capitalism and meeting human needs go hand in hand. An economy that provides meaningful work will advance people’s lives while enhancing their personal dignity. At the same time, a well-functioning workforce is critical to any organization’s success. A firm that focuses on professional development while caring for its team is not only compassionate but smart.

I am honored to be leading a team that is doing our part. It is just good business.