CATEGORY 1: LEADERSHIP 1.1 Senior Leadership 1.1a Vision and Values 1.1a(1) Setting Vision and Values
by serving on the board of the Chicago chapter of the Better Business Bureau. IPM also was the subject of a 2013 study published by Benedictine University’s Center for Values-Driven Leadership that correlates a values-driven culture with financial success. 1.1a(2) Promoting Legal and Ethical Behavior Because ethical behavior is so entwined in IPM’s core, much of senior leadership’s commitment to it can be found in 1.1a(1) . IPM’s senior leaders have a passion for excellence, honesty, ethical conduct, and uncompromising integrity, as stated in our M&B . In words and actions, they promote and reinforce our commitment to our FV and M&B . Through our history, IPM leadership has validated its commitment to our values and philosophies when tested. One example was a client “poaching” one of our PMCs in violation of the reciprocal recruiting restraint in our contracts. The client ultimately agreed to a financial penalty, but to IPM leadership, the restitution was an ill-gotten gain. Rather than recognize the penalty as profit, the proceeds were divided among five charities. Profit never carries a higher priority than principles. Senior leaders promote an organizational environment that requires a commitment to legal and ethical behavior by defining IPM’s Character Elements (Figure P.1-2) and including them as part of the PS&DP process. Honesty and integrity, which are foundational to legal and ethical behavior, are absolute, zero-tolerance conduct requirements. 1.1b Communication Since IPM’s inception, senior leadership has functioned with transparency. Key decisions and major changes are announced at the Annual Plan (AP) or quarterly Staff meetings that are attended by all employees. In the spirit of frank, two-way communication, senior leadership presents financial results, as well as the outlook, even though, as a privately held company,
As the basis for establishing an exceptional values-based culture, IPM’s founder and CEO, C. Richard (Rich) Panico, set IPM’s values by creating Our Mission & Beliefs ( M&B ). This document is a proclamation of IPM’s business purpose, ethical philosophies, commitments to employees, and societal responsibilities. Our M&B is a culturally embedded influence that governs conduct, decisions, and strategy. At the same time, IPM’s Vision details the destination we are pursuing and sets the Company’s strategic direction beyond the next decade. To further advance employees’ understanding and affiliation with the Vision, senior leadership has identified Vision Priorities (VP), which were refined as part of the 2018–19 Strategic Plan. During this planning cycle, both the Vision and M&B were also updated to better align with IPM’s evolution to providing the higher-value service of planning and leading strategically critical initiatives for our clients. While IPM’s key values have always been embedded in the M&B , in 2014 senior leadership established our Fundamental Values ( FV ) , to emphasize IPM’s primary beliefs and core governing principles to our workforce and customers. We share our FV , Vision, and M&B with both current and prospective customers through our website and other communication channels like our e-newsletter, Managed Right, and the proposals we customize for each potential engagement. In these we highlight our values and culture as keys to our value proposition. Internally, our FV are reinforced as part of new employee onboarding and on an ongoing basis through the Performance Summary & Development Plan (PS&DP) process, where conformance to our FV is evaluated along with on-the-job performance. In 2010, the Company established measurable, long-term goals along a 10-year horizon, known as Vision 2020 Long Range Goals (LRG). These objectives and benchmarks chronicle IPM’s progress toward our greater Vision, and results are reviewed annually with the entire organization. With the year 2020 looming closer, senior leadership established further-reaching 2025 LRG as part of the 2018–19 Strategic Plan. Together, our FV , M&B , Vision, and the 2020/25 LRG provide the strategic framework to ensure that the Company’s leadership is choosing the most effective path to engage our family members (employees), sustain growth, and preserve our supportive, values-based culture—a significant competitive advantage that cannot be readily replicated (Figure 1.1-1) . Senior leaders show their commitment to the Company’s values by being a part of the interview process. At least two members of the senior team interview every late-stage candidate using the M&B and FV as part of the evaluation process to determine cultural fit. The CFO (since 2015) and Vision Realization Officer (VRO) (in prior years) have demonstrated their commitment to ethical business practices
Figure 1.1-1 Leadership System
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