Yost - Whole Foods...d Z ] } µ u v ] } ] Ç v } v ( ] v ] o X E } } ( Z ] } µ u v u Ç ] o } ] v v...

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market. Whole Foods Market Internal Audit IIA Seminar – Building Future Internal Auditors January 23, 2018

Transcript of Yost - Whole Foods...d Z ] } µ u v ] } ] Ç v } v ( ] v ] o X E } } ( Z ] } µ u v u Ç ] o } ] v v...

Page 1: Yost - Whole Foods...d Z ] } µ u v ] } ] Ç v } v ( ] v ] o X E } } ( Z ] } µ u v u Ç ] o } ] v v Ç u v v } Z ] Ç Á ] Z } µ Z ] } Á ] v } v v } ( t Z } o & } } D l X

This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Whole Foods Market Internal Audit

IIA Seminar – Building Future Internal Auditors

January 23, 2018

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

I’m excited to be here!

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Agenda

• A little bit about Whole Foods history & culture• A little bit about the evolution of Internal Audit at Whole Foods• Recurring themes and lessons learned• Q&A

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But first… What’s it like?

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Current Stats

• 4th largest public food retailer prior to merger• $16B in annual sales• 473 stores in 42 states, Canada and the UK• 30M customers• 11 distribution centers, 4 bakehouses and 3 seafood production centers• 91K Team Members• 20 consecutive years on Fortune’s “100 Best Companies to Work For” list

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Whole Foods Market - Kahala Mall Oahu Honolulu, HI

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Culture: Core Values

• Selling the highest quality natural and organic products available• Satisfying, delighting and nourishing our customers• Supporting Team Member happiness and excellence• Creating wealth through profits and growth• Serving and supporting our local and global communities• Practicing and advancing environmental stewardship• Creating ongoing win-win partnerships with our suppliers• Promoting the health of our stakeholders through healthy eating education

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Example: Serving & supporting our communities through our Foundations

• Whole Planet Foundation – Alleviating poverty through entrepreneurship– 2.3M microcredit loans created in 69 countries– $65M disbursed– Repayment rate of 97%

• Whole Kids Foundation – Increasing access to healthy food choices for kids– Garden Grants, School Salad Bars, Honey Bee Grants

• Whole Cities Foundation – Improving individual and community health through collaboration, education and broader access to nutritious food

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Example: Supporting TM Happiness & Excellence through Empowerment

Team Member empowerment starts with our Core Values: we support Team Member happiness and excellence through empowering work environments, where motivated Team Members can flourish and succeed. Through this mindset, empowerment can show up every day, in ways like:

• Having a big-picture and shared fate approach to problem solving • Expressing ideas and opinions at all levels • Ownership of tasks, projects, solutions, and business decisions on your Team • Mentoring, coaching and developing yourself and those around you• Asking for and being open to feedback from your Team

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Example: Growth through Innovation

The reason no two WFM stores look the same is because of the entrepreneurial spirit that runs through them.

Experimentation builds the pipeline for new ideas and innovation

Something New• Cut to order produce “butchers”• Produce arrangement competitions• 365 Teabots• Tuna sourcing direct to the individual boat and line• “Wow” bucks

Iteration• Jamba Juice WFM curated smoothies• Coffee bars Kombucha and nitrogen-infused taps• Wellness clubs Bars

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Growth of Internal Audit at Whole Foods

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market. Page | 13

Culture

OwnershipEmpowerment

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

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Culture

OwnershipEmpowerment

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market. Page | 15

Culture

OwnershipEmpowerment

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

1. Culture – Love it & live it!

• Consider an organization & team’s culture before you join. Does it suit you? Do the values resonate with your own? Focus on the mission.

• What is the tone at the top? What tone can you create?• Culture impacts how you do your work, and how satisfied you are as a result.

– Mix of audit & consulting– How results are delivered, received, followed up– Overall opinion of IA

• Plan and perform your work in a way that fits with your org’s culture.

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

2. Empowerment – Make it happen!

• Empower your team to grow in ways that inspire them!• Get the right people on the bus then get out of their way! (Good to Great)• Servant leadership• Partner with your audit clients—empower them to make improvements (& let

them take credit!)• Empower your boss to support you—ask for what you need!

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

3. Ownership – “Own it!”

• Own your development – Get a mentor/coach• Own your team’s success—Be creative! Innovate!• Act like an owner! Be an ambassador for your organization & your team.

Always be recruiting!• Own the future - Build and grow relationships, even if no immediate “need.”• Create opportunities!• Be a leader!• Be great!

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market. Page | 19

Culture

OwnershipEmpowerment

Themes and Lessons Learned(CEO: Culture, Empowerment, Ownership)

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Themes and Lessons LearnedIt’s all about the CEO!

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This document is proprietary and confidential. No part of this document may be disclosed in any manner to a third party without the prior written consent of Whole Foods Market.

… and don’t forget to have fun!

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