Douglass E Pace, Chairman & CEO
It is a no brainer that people are the most valuable, intangible asset for any organization. If nurtured properly, they can differentiate an organization from its peers by providing a competitive edge in the market. Unfortunately, many companies fail to recognize it and perceive digital transformation as the go-to strategy to achieve all their organizational milestones. Such a mentality adversely impacts an enterprise’s culture, hampers its capability to attract and retain fresh talents, which in turn, disturbs its edge in the market. “Several enterprises fail to look at their business problems from a holistic perspective and end up making some hefty investments to bolster their digital presence. Most of the time, quandaries associated with organizational efficiency and business outcome emerge due to an organization’s culture and its approach to employees and customers,” comments Douglass E Pace, Chairman, and CEO at Stonehill.
Against this backdrop, Stonehill—a strategy and innovation consultancy—helps businesses develop high-performance cultures, dynamic leaders, and optimized teams to deliver exceptional customer experiences. “We identify opportunity, create change, and accelerate growth leveraging the design thinking framework, which I believe is a unique approach. It is all about using empathy to create as well as implement strategies,” mentions Pace.
Stonehill’s comprehensive approach is based on five key pillars. The first one is empathy where the company does extensive research to understand the demands of customers, employees, and shareholders of a given organization and then, relying on accumulated data, Stonehill defines the real problem. Following this, the company brings a plethora of innovative ideas on the table to address the business-specific needs of its clients and filters those in terms of feasibility, desirability, and viability.
We identify opportunity, create change, and accelerate growth leveraging the design thinking framework
Then, Stonehill selects, builds, as well as implements solutions and strategies based on the finalized idea. “We build the most appropriate solution for a given problem and start to prototype them—be it reorganizing an enterprise, hiring a new people, or enforcement of scorecard on an individual for performance management,” says Pace. After this prototype phase, Stonehill’s team again looks at the collected data to test the effectiveness of the solution. Pace says, “If the data does not show any improvement, we abandon that solution and change it.”
With such a unique approach, Stonehill has gleaned a legion of clients across diverse industry verticals— from healthcare to hospitality. In one instance, a large organic food provider faced multiple issues related to employee retention, revenue, and customer satisfaction. Working in liaison with the client, Stonehill found that the reliance on paper-intensive procedures was the root of all their problems. Such a siloed work process hampered their internal teams’ capability of working collaboratively, which eventually led to customer dissatisfaction. Understanding this, Stonehill reorganized the teams, lowered down oversee departments, and created certain customer-focused nimble teams. “We call it the team of teams approach,” says Pace. By allowing its customers to work with the same team, Stonehill solved the complication associated with customer satisfaction. Additionally, the employee engagement quotient touched the zenith as workers could directly approach clients instead of rendering certain herculean and monotonous paperwork. “Employees had the feeling of owning a project, which propelled them to work better,” Pace comments.
Backed by the prowess of such unparalleled instances of client success, the company envisions honing its capabilities to serve its clients better. Stonehill has developed a series of innovation labs and workshops that can solve common business issues in less than a few days. Interestingly, these workshops can be deployed with little planning and accelerate business outcomes. “As a company, we are tied to our core values—have fun, be optimistic, and help others succeed. It enables us to go beyond every challenge, irrespective of its gravity,” concludes Pace.