Louis Chenevert on Business and Employee Investment

Louis Chenevert has served as the President and CEO of United Technologies Corporation since April of 2008 and in 2010 was elected as Chairman. He has been with United Technologies Corporation since 2006 and serving as a Director. Prior to his work at United Technologies Corporation Chenevert worked at Pratt & Whitney and General Motors. Chenevert currently brings his expertise to several boards that he serves on in varying capacities. He received his bachelors of commerce degree in production management from the University of Montreal.

Louis Chenevert shares some of his business expertise in an article on how to improve business by investing in employees. In the article Chenevert points out that retaining and cultivating good employees can be the best way to improve business. Not only will happy employees be more productive, but it can be more cost effective to hire and promote from within to avoid the cost and time it takes to hire and train outside candidates. Additionally, the benefit of promoting from within the company can show other employees that loyalty and hard work will pay off and encourage them to be better at their jobs. There are four things that Chenevert suggest to invest in employees and improve business. First is to create a good workplace environment. That includes not only the physical space that employees work in but also the workplace culture and relationships among coworkers. Also, he notes that recognizing and rewarding hard work can go a long way in showing employees that they are appreciated. An employee scholarship program, while a little more costly, can be beneficial for all by encouraging continued education and training. The final tip is to get creative with team building. Team building doesn’t have to be painful and boring, Chenevert points out that getting everyone involved to work together for a charitable cause can be good for team building, corporate culture and image, and the community.

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