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BUSINESS PROFILE YOU CAN TEACH AN OLD DOG NEW TRICKS American Express Proves It Keeps UpWith the Youngest of Companies
Everyone is familiar with the old adage, “You can’t teach an old dog new tricks.” This expression was first recorded in 1523 in “The Book of Husbandry,” where it was used literally in hopes of helping 16th-century men run their farms more efficiently. Now the phrase is used to express the difficulty of teaching a new skill or behavior to someone who is set in their ways. Imagine trying to convince your grandpa to join you for a hot yoga class. Despite his best intentions, that’s probably the last activity your grandpa would want to participate in. Take this expression and apply it to the business world, and in many cases, you’ll notice a similar pattern. Companies that were founded in the mid- 1800s would openly balk at some of the strategies implemented by newer start-ups. The ones that renovated their business models to keep up with the railroad expansion are the ones that managed to stay afloat through the Great Depression. Today, they might laugh at the idea of offering their employees a napping room, paid fitness memberships, or access to a free kegerator. If a company has remained successful for nearly two centuries, why would it need to incorporate modern workplace perks to attract employees? While it would have been easy for them to embody this mindset, American Express continues to prove that a company built in 1850 can keep up with even the most contemporary of businesses in the 21st century. Ever since its humble beginnings as an express mail business based out of Buffalo, New York, American Express, started by Henry Wells, William G. Fargo, and John Warren Butterfield, has constantly innovated to maintain its position as one of the top 20 World’s Most Admired Businesses. One of the most laudable ways American Express both ensures employee longevity and earns respect from other businesses is through its commitment to an inclusive workplace. As a global company, American Express understands that its success relies on its employees being just as diverse as the customers and communities they serve. Through
their Global Diversity & Inclusion initiative, they channel their efforts to develop a pool of talented individuals with unique backgrounds, perspectives, and experiences. American Express predicates this initiative on fostering a workplace where differences can be expressed freely. They know that employees won’t feel confident taking risks or collaborating with others if they don’t feel supported in their personal and team growth. What’s particularly respectable about American Express’ diversity and inclusivity initiative is that their intention to enrich the lives of their employees is achieved through authentic and pragmatic means, as reflected by their numbers: Women comprise over 50 percent of their global workforce and more than 30 percent of senior executives. The company has scored 100 percent on the U.S. Human Rights Campaign index annually since 2004. • •
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They contributed to seven research studies with the Center for Talent Innovation, focusing on how to advance women in the workplace.
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They offer 20 weeks of paid parental leave at 100 percent of base salary for new moms and dads.
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They offer 40 backup child care days to help new parents transition back to work.
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And employees who adopt or use a surrogate can be reimbursed up to $35,000.
With benefits like these, it’s no wonder American Express has made the list of Great Places to Work, with nearly all of its employees claiming that they are proud to tell others where they work. In a world where minority’s and women’s rights tend to be polarizing topics, the idea of spending thousands of company dollars to not only start a diversity and inclusivity initiative but also to continue to better the experience for existing employees is inspiring — especially when you consider the lingering historical influence American Express has had since the 1850s. Their adaptability, forward-thinking attitude, and genuine concern for their employees’ contentedness exemplifies their ability to keep up with the times and prove that old dogs really can learn new tricks.
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3 Executive Employee Networks support black, Hispanic, and female executive leaders.
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They offer a $500 Welcome Back Benefit for veterans returning home from overseas duty.
In addition to making a commitment to diversify their workforce, American Express’ exemplary treatment of their existing employees is nearly unmatched:
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