Published on: May 24, 2019by Kevin Coupe
The Dallas Morning News reports that even as H-E-B invests in technology, it also is “doubling down on people.”
In a speech this week at the Federal Reserve Bank of Dallas, about technology-enabled disruption, H-E-B president Craig Boyan “argued that companies' use of technology should be focused on creating jobs and making their customers' and employees' lives better — rather than simply squeezing out more money for shareholders.
“And Boyan said he's troubled by how venture capitalists and other investors are giving huge sums of money to tech companies that are putting retailers out of business and thousands of people out of work — even though they have no viable business plan.”
"We have unicorns going public that will probably never make money, wiping out jobs for your grandkids," Boyan said. "That is a huge problem.”
He’s playing my song.
H-E-B has hardly avoided investing in technology, but this understanding that people are the ultimate difference in a shopper’s experience is a key reason that H-E-B is H-E-B, and most everybody else is everybody else.
Putting employees’ and customers’ best interests ahead of those of investors and shareholders is incredibly important as a differentiator … though it must be noted that as a private company, H-E-B doesn’t have some of the pressures faced by public companies. (It has different pressures, of course…)
Putting people first? That’s an Eye-Opener.
- KC's View: