Business Leader Louis Chenevert Gives His Opinion On How Best To Boost A Company
Loius Chenevert is an exclusive advisor at the financial firm Goldman Sachs which he joined in 2015. Originally from Quebec, Canada, he now lives in Farmington, Connecticut. After graduating from the University of Quebec he landed a job as a production manager at General Motors. Over the next 14 years, he steadily advanced his career at that company before leaving to join Pratt & Whitney in 1993.
Pratt & Whitney is owned by its parent company United Technologies Corporation. Loius Chenevert eventually became an executive at UTC. In April 2008 he was elected as UTC’s new president and chief executive officer. Two years later he was named as the chairman of the board of directors.
Louis Chenevert serves the business community in a few different ways. He has a seat on the Executive Committees of the Business Roundtable. He chairs two of this organization’s teams which are The Business Council and the Tax and Fiscal Policy Committee. He was once on Cargill’s board of directors as well as the Congressional Medal of Honor Foundation.
As a business leader, he thinks the wisest thing that executives can do is invest in their employees. Usually, the first thing brought up when talking about improving a company is buying new technology or changing some process. Loius Chenevert, though, says that investing in employees is the best way to give a company a boost. He says that when it comes to current employees you are aware of what they able to handle or not. An employee that you promote may show that they have a very high skill level in their new position which you’ll never know if you don’t take an interest in them.
Hiring people from outside the organization means that a lot of time spent training them needs to be accomplished. However, Louis Chenevert points out that if you promote an existing employee you can cut this lengthy and expensive process as they are already intimately familiar with the company and the work to be performed. He sees promoting existing employees instead of hiring outside ones for higher positions as the best way to do business.