Daniel J. Devine has taken the saying “no risk, no reward” to a new level.
Devine founded Compass Knowledge Group in 1993 to meet the growing demand for distance learning programs targeted toward professions through partnerships with accredited colleges and universities to expand their educational offerings.
But while Devine’s co-founder focused on quick growth in hopes of a lucrative buyout, Devine chose instead to focus on the well-being of his employees and on building a sustainable growth model.
In 2003, with the company facing bankruptcy because of a failed merger, the board replaced the then-CEO with Devine, who was president and COO at the time. Devine took risks and sacrificed by liquidating his savings, assuming a significant amount of debt and borrowing against his personal residence to make the company work. He also took significant cuts in his compensation and eventually put the company back on solid ground.
Going to such great lengths isn’t surprising considering that Devine wanted to build a people-first culture internally as a way of developing sound relationships with partners. To Devine, employee satisfaction and quality of life have a direct effect on the company’s performance. Therefore, in spite of the current recession, he gave all of his employees raises and currently has no plans to cut his work force.
The company’s culture is the result of extensive development work. Devine established the company’s service standard of integrity, courtesy, quality and efficiency. By incorporating these standards into the daily activities of the company, he believes that the clients, employees and organization all will prosper.
How to reach: Compass Knowledge Group, (800) 511-5636 or www.compassknowledge.com