The Power of Aspirational Culture

Ah, gather round for the tale of DTE Electric's dance with destiny during the not-so-sparkling times of 2008's Great Recession! Picture this: DTE, a cozy electric utility nestled in Detroit, faced a real head-scratcher. With 10,000 employees on its roster and its biggest clients, hulking manufacturing plants, shutting down faster than a blackout during a thunderstorm, DTE was staring into the abyss.

Now, imagine a place where the words 'electric utility' conjure images of dusty files and endless paperwork. Yep, that's DTE for you. But here comes Gerry Anderson, the CEO, an engineer with a noggin for numbers rather than heart-to-hearts. His team was all for layoffs, but Gerry, bless his circuits, had a lightbulb moment: "No layoffs," he declared, "let's fix this mess together!"

So, Gerry makes this grandstand, asking his team to go full superhero mode for DTE. He couldn't promise a fairy-tale ending, but he pledged that layoffs would be the last resort. The Harvard Business Review even chimes in about this - talk about getting some academic street cred!

How did this all pan out, you ask? Well, DTE started smashing expectations like a kid in a candy store. Take their $30 million renovation project, for example. When the team went to their vendors with puppy dog eyes asking for better pricing, boom - they saved $3 million! But wait, there's more. They realized they were just swapping old tech for similar new tech, except for some fancy logic boards. So, back they go to the vendors, and guess what? The upgrade cost plummeted to $3 million - that's a whopping 90% off the original price!

Fast forward to 2010, and DTE's back in the game, strutting like a peacock. The recession survival culture was old news, and Gerry, our hero, was brainstorming again. He realized it was time for DTE not just to survive but to thrive and help their community. Gerry's new mantra? "Let's aim higher and be a beacon of hope and prosperity!"

The result? By 2017, DTE's shareholder return was stratospheric, up by 275% compared to its peers. Not too shabby, right? This story isn't just about profits; it's a heartwarming saga of a team driven by more than just dollar signs. It's about leadership that's not just about the bottom line but about creating a culture that rocks.

So, what's your team's vibe? Are you defining your culture, or is it defining you? Remember, you get the culture you're cool with. If you're itching to jazz up your team's culture and performance, why not click that snazzy green button for a chat? A complimentary one-hour culture pow-wow awaits! You can sign up for a complimentary session here if you're a CEO or run a business.