In our book we read about Tom Watson, who according to our authors occupies several roles in Omnicom. It seems that one of his favorite roles is dean of Omnicom University, which is a six day “undergrad” program for the first year and a four day “grad” program for the second year for roughly 100 of the most senior Omnicom executives. The curriculum for both programs is based largely on case studies. Most of which are developed from the experience of the participants. You are required to propose and carry out initiatives between the first and second year of their classroom studies. According to our authors the initiatives typically involve the application of ideas brought to the university through cases for outside and inside Omnicom as well as participants interchange of best practices. Tom Watson's first-hand knowledge of the best and brightest managers Omnicom, He now has the ability to put together the right people with the right ideas. It is said that he gives credit where credit is due and does not automatically take the credit. With this type of company atmosphere I can see why employees at Omnicom are willing to share their wealth of knowledge with each other. According to the authors participants in the Omnicom University have half the defection rate as nonparticipants and this fact alone has saved Omnicom an estimated $13 million. There is a strong belief at Omnicom that its brain contribution significantly to a sevenfold increase in net income between 1992 and 2000.
http://query.nytimes.com/gst/fullpage.html?res=9B00E3DB1630F937A25751C1A9629C8B63
This is a perfect example of what I talked about in my July 1st blog. Knowledge isn't power until you share it with your employees. This sounds like a great training program that maybe other comanies should take an idea from.
PJ H.
Posted by: PJ H. | July 01, 2007 at 01:55 PM