3 min read
April 29, 2021
Changing the way businesses approach their overall energy strategy, while simultaneously raising the bar for the entire deregulated power industry, is an audacious goal. When we started 5, we knew that we would need to be intentional about every aspect of our culture to make an impact of this magnitude, starting with The 5 Values. Through an iterative process with our entire team, The 5 Values emerged to serve as the focus and filter for how we communicate, problem-solve, collaborate, and create value for all of our stakeholders. The 5 Values are: Honesty, Integrity, Accountability, Excellence, and Fun. The way we understand these Values and how they are applied to our business are described below. 1. Honesty – We communicate openly and honestly, recognizing that each of our stakeholders depends on our complete commitment to own this responsibility. Our approach to this Value can be summarized by the following: 2. Integrity – The lifeblood of our organization is the Integrity by which we operate in both good times and bad. Unfortunately, the energy brokerage space, unlike other professional service industries, does not require licensing and adherence to certain ethical standards. The low barrier to entry results in a large cohort of energy brokers that are unskilled and inexperienced, or many times even unethical. We aim to drive change in our industry through our approach to client and supplier relationships, which includes the following: 3. Accountability – Our highly skilled and energetic team creates exponential value for our clients, and this impact is consistently sustained through our focus on accountability. There are several guideposts to this Value, including: 4. Excellence – In an immature and ever-changing industry, we believe it is our responsibility to define Excellence. By living up to our company name, 5, we strive to become the standard by which all others are measured. 5. Fun – Having fun is one of the most dynamic and most often misunderstood Values. There is much more to this Value than our constant laughter and reminders not to take ourselves too seriously. In fact, Fun is a much deeper concept at 5. The 5 Values allow our team to focus on creating a positive impact for every stakeholder. We have successfully implemented The 5 Values by leading from the top, clearly articulating each value to the team, focusing on The 5 Values during new 5er on-boarding, and demonstrating the behaviors that exemplify each Value. We live by The 5 Values on and off the field.
Topics: Culture
Written by Jeff Schiefelbein
Jeff Schiefelbein is the Chief Culture Officer for 5 where he oversees sales, marketing and recruiting. Jeff has a proven track record of innovation and leadership through his involvement in company start-ups, technology development, personal coaching, and strategic management. Before 5, Jeff served as the Vice President of Sales at First Choice Power. Jeff has also been nationally recognized for the creation and implementation of CARPOOL at Texas A&M University, the nation’s most successful college safe-ride program to reduce drunk driving. For his work on CARPOOL, Jeff was featured on ABC’s Volunteers Across America and has won numerous awards, including the National Daily Point of Light Award and the Texas Governor’s Volunteer Service Award. Jeff has a bachelor’s degree in Business Administration from Texas A&M University. He advises several nonprofits and serves as the President of the Board for The Highlands School in Irving, Texas. He is also a motivational speaker and the host of a monthly Catholic radio show.
The article delves into the cultural ethos of a company, detailing "The 5 Values" that drive their approach to business strategy and stakeholder engagement. Let's break down the concepts mentioned and elaborate on each:
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Honesty: The company prioritizes open and honest communication. They emphasize the importance of sincerity in dealings with stakeholders, stressing the need for tact, vulnerability, and authenticity in relationships.
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Integrity: They underscore the significance of ethical conduct, particularly in an industry with low entry barriers. The organization maintains strict internal policies to ensure ethical behavior, including refraining from accepting gifts or entertainment from suppliers.
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Accountability: There's a strong emphasis on clear communication, ownership, timelines, and deliverables. The organization focuses on empowering its team while ensuring responsibilities are clearly defined and executed efficiently.
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Excellence: They strive to set industry standards by constantly evolving and growing. The pursuit of excellence is central to their ethos, emphasizing progress, innovation, and a commitment to surpassing limitations.
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Fun: Fun isn't just about enjoyment; it's about the fulfillment derived from achieving ambitious goals collectively. It's tied to the team's satisfaction in pushing boundaries and delivering exceptional solutions.
Jeff Schiefelbein, the Chief Culture Officer, leads various aspects of the company, leveraging his expertise in sales, marketing, and recruitment. His experience in startups, technology, and strategic management has contributed to his innovative leadership approach. Additionally, his involvement in creating successful programs and receiving recognition for these initiatives underscores his commitment to effective leadership and impactful innovation.
This company's focus on values aligns with broader discussions on corporate culture and its impact on business strategy, employee engagement, and stakeholder relations. Their commitment to transparency, ethics, accountability, excellence, and fostering an enjoyable work environment reflects a holistic approach to organizational success.