Phillips Edison Arms Real Estate Leaders with Concrete Tools for Success
Innovation Labs challenges associates to solve real-life problems with creative thinking
SALT LAKE CITY, May 19, 2015 /PRNewswire/ -- Phillips Edison & Company announced today a groundbreaking new program created to empower and prepare emerging leaders for a successful future.
Innovation Labs is a professional development series that places associates from various departments on a team and assigns a real-life challenge facing the company. Teams must draw on leadership, creativity and critical thinking to develop a solution that executive-level management will review for implementation.
Presented by PECO University, Phillips Edison's professional enrichment and education program, and Westminster College of Utah, the program begins with a two-day kickoff at Blue Sky Ranch in Park City, Utah. Westminster faculty guides participants through team-building exercises and academic presentations focused on topics such as change management and strategic communication. The team then meets to discuss how lessons that are learned through the presentations and activities can be applied to workplace and management practices.
Following the kick-off, teams have 60-90 days to utilize the skills and information gained from the instructional sessions to evaluate the issue presented and develop a creative solution. Westminster staff members provide coaching throughout the process and assist teams in establishing a plan of action.
"We want to make innovation part of our DNA. Fostering innovative solutions is what allows us to adapt and take advantage of our ever changing retail market," says Jeff Edison,
Chief Executive Officer of Phillips Edison. "These types of programs allow our associates to grow and develop as leaders both personally and professionally, and we feel with the right mentorship and guidance, our associates will emerge as some of the most innovative and talented leaders in the industry."
Phillips Edison has a longstanding dedication to building and maintaining talent from within. The goal of Innovation Labs is to internally cultivate the company's future talent and create a team of highly qualified leaders conditioned to elevate the company to new levels of success and growth while continuing to provide an enjoyable and respected corporate culture.
"Phillips Edison & Company is a leader in employee development, so this partnership was an extremely exciting opportunity for us to provide an academic analysis on how innovation and creativity can be applied to problem solving in a corporate setting," says Steve Morgan, President of Westminster College.
The 14 associates chosen to participate in the first Innovation Lab represent multiple departments, skill sets, and years of experience both within and outside of Phillips Edison. Many of the participants were identified as emerging leaders during Phillips Edison's comprehensive talent review process, while others were invited to participate following a nomination process opened up to managers and department heads. Going forward, Phillips Edison hopes to host two Innovation Labs per year in order to continue developing their culture of innovation and employee enrichment.
Innovation Labs is just one of a multitude of leadership development opportunities offered by Phillips Edison as a way to help associates develop the skills they will need to propel the company and themselves into the future. Other investments by Phillips Edison in the development of its leaders include a signature Executive Presence program, Job Shadow program, Leadership 363 assessment for all managers, departmental retreats, PECO NOW (Networking Opportunity for Women), a new program to increase the number of women in leadership and a newly revitalized Mentor program. The Innovation Labs are just one of many ways Phillips Edison promotes and reinforces the strong "PECO" (Pride, Energy, Connection and Opportunity) culture.
About Phillips Edison & Company
Since 1991, Phillips Edison & Company has focused on the grocery-anchored shopping center sector. The company has a fully integrated in-house operating platform built on market leading expertise designed to optimize property value and consistently deliver a great shopping experience. Led by a veteran management team, Phillips Edison's operating platform provides retail services including acquisition, redevelopment, leasing and management of grocery-anchored retail centers. The company's portfolio currently includes a national footprint of retail properties. The company has corporate offices in Cincinnati, Salt Lake City, New York City and Atlanta. For more information, please visit www.phillipsedison.com or connect with us on LinkedIn.
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SOURCE Phillips Edison & Company
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