Friday, June 7, 2013

Business Must: Keeping Promises


If there’s one thing that people hate, it’s unfilled promises. That goes for both the personal and the business worlds. As an employer, it’s particularly important to remember that when employees are promised something, it’s as good as done—or at least it should be. On the customer level, businesses can make or break their success by following through or not on promises made.

making promises
Don't make promises you can't keep.
Image: Shutterstock
Breaking promises means losing credibility, and that’s something a business should never put on the line. If a company doesn’t have credibility, then it has nothing. Not following through can happen for any number of reasons—lack of trying, problems with company policy, not enough funding, or something else. No matter the reason, breaking a promise is still breaking a promise.

A great example of an organization following through on its promises lately is the New York City Housing Authority. The news has featured a variety of updates regarding NYCHA’s “repair backlog,” which at the beginning of this year numbered 422,639 repairs. Cecil House, NYCHA General Manager helped create and implement the repair plan, and promised to eliminate the backlog by the end of the year—and thus far they are well ahead of schedule. With monthly check-ins and follow-through on their plan, NYCHA has really gotten back on track.

Another promise recently made that remains to be judged has to do with Yahoo’s takeover of Tumblr. The tech giant purchased the much smaller company for a whopping $1bn, with one of the stipulations being that they wouldn’t “screw it up.” David Karp will continue to run Tumblr as a separate entity, while Yahoo works on a way to make it profitable. Facebook has seen significant criticism for its past efforts at profitability, including ads and promoted posts. Will Yahoo follow through with its promise? They’d better, or they’ll lose a ton of valuable users.

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