In this edition of Active Voice, Cathy Saunders, Head of Corporate Sustainability and Public Policy, shares the highlights of a conversation with Scott Taber, Senior Vice President and Head of Global Hospitality for Four Seasons Hotels & Resorts.
Scott joined a recent meeting of Putnam’s Advisory Council to talk about what it takes to deliver the ultimate client experience and set the gold standard for client service. Putnam and The Four Seasons share an unwavering commitment to superior client service, and we are delighted to join in advocating a company culture built on service.
Below are the top 10 highlights from the meeting and quotes from Four Seasons: The Story of a Business Philosophy by Isadore Sharpe, Founder and Chairman, Four Seasons.
1. We pride ourselves on service, incredible service, every time you stay with us. “Excellence in service should not be an event; it has to be a companywide habit.” We want our guests to have great memories.
2. Our culture is The Golden Rule. “Do unto others as you would have them do unto you.” We hold ourselves accountable to this standard.
3. You must have a strong culture to deliver superior service. Our culture is our top priority. Leaders must be culture carriers.
4. We are guided by our belief in quality, service, culture, and brand. These four pillars are interconnected and interdependent and were established by Mr. Sharpe as the foundation of The Four Seasons.
5. We empower our associates to act and make the best decisions for our clients. “We can’t go on mechanizing service through rules or controlling it by supervision. We need employees who can spot, solve, and even anticipate problems. That means delegating authority as well as responsibility.”
6. Preparation is key. We prepare for every visit. We know our guests. We memorialize their preferences and deliver on them. We proactively plan for the best customer experience as preferences evolve.
7. Our culture comes alive when things don’t go as planned. “We can’t promise that you won’t encounter a problem, but we promise that you will be satisfied with the solution.” We address problems, or glitches, as we call them, through the client’s eyes and understand that speed and communication of resolution is paramount to success.
8. We learn from our mistakes. Every day, each general manager holds a team meeting to reflect on and learn from recent good, and less good, customer experiences.
9. Our people are our most important asset. We hire for attitude and train for the rest. We look for an authentic and genuine commitment to customer service in every associate.
10. We build lifelong relationships. We lead with care. We continuously cultivate a network of trust among our associates and with our guests.
At Putnam, an active focus on service is core to how we do business. We know that providing the right information, insights, and resources is as important to advisors as offering high-quality investment strategies. Putnam is a recognized leader in the financial industry for consistently delivering the highest level of service to investors, advisors, and financial professionals.
This material is for informational and educational purposes only. It is not designed to be a recommendation of any specific investment product, strategy, or decision, and is not intended to suggest taking or refraining from any course of action. The material was not prepared, and is not intended, to address the needs, circumstances, and objectives of any specific institution, plan, or individual(s). Putnam is not providing advice in a fiduciary capacity under applicable law in providing this material, which should not be viewed as impartial, because it is provided as part of the general marketing and advertising activities of Putnam, which earns fees when clients select its products and services. The views and strategies described herein may not be suitable for all investors. Prior to making any investment or financial decisions, any recipients of this material should seek individualized advice from their personal financial, legal, tax, and other professional advisors that takes into account all of the particular facts and circumstances of their situation. Unless otherwise noted, Putnam is the source of all data. Putnam Investments cannot guarantee the accuracy or completeness of any statements or data contained in the material. Information and data contained in this material are subject to change. Actual results could differ materially from those anticipated. All investments involve risk, and investment recommendations will not always be profitable. Putnam Investments does not guarantee any minimum level of investment performance or the success of any investment strategy. Investing entails risks, including possible loss of principal. Past performance is no guarantee of future results. This material or any portion hereof may not be reprinted, sold, or redistributed in whole or in part without the express written consent of Putnam Investments. The information provided relates to Putnam Investments and its affiliates, which include The Putnam Advisory Company, LLC, Putnam Investment Management, LLC, Putnam Investments Limited® and Putnam Retail Management, LP.
Investing involves risk, including the loss of capital.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus, or a summary prospectus if available, containing this and other information for any Putnam fund or product, call your financial representative or call Putnam at 1-800-225-1581. Please read the prospectus carefully before investing.
For informational purposes only. Not an investment recommendation.
This material is provided for limited purposes. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument, or any Putnam product or strategy. References to specific asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations or investment advice. The opinions expressed in this article represent the current, good-faith views of the author(s) at the time of publication. The views are provided for informational purposes only and are subject to change. This material does not take into account any investor’s particular investment objectives, strategies, tax status, or investment horizon. Investors should consult a financial advisor for advice suited to their individual financial needs. Putnam Investments cannot guarantee the accuracy or completeness of any statements or data contained in the article. Predictions, opinions, and other information contained in this article are subject to change. Any forward-looking statements speak only as of the date they are made, and Putnam assumes no duty to update them. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those anticipated. Past performance is not a guarantee of future results. As with any investment, there is a potential for profit as well as the possibility of loss.
Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.
Consider these risks before investing: International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Bond investments are subject to interest-rate risk, which means the prices of the fund’s bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Commodities involve the risks of changes in market, political, regulatory, and natural conditions. You can lose money by investing in a mutual fund.
Putnam Retail Management.