Following our Managing Partner Nigel Forbes being interviewed by Chris Sheppardson, Founder of EP Business in Hospitality, talking all things Vested, the Founder of the Vested movement herself has now also been interviewed.
Kate Vitasek, Founder of Vested, is an international authority for her award-winning research and Vested business model for highly collaborative and strategic relationships. Her interview gives a true insight into what Vested is, the mindset behind it, the benefits of the approach and what can be achieved through this approach. It’s fascinating.
For many of our followers, you will have heard us talk about Vested previously – it’s an approach we believe in and we see this as being the future way of working.
For those of you new to the concept, the mindset behind Vested is not ‘what’s in it for me’ but ‘what’s in it for we’. Vested outsourcing is a hybrid business model in which clients and service providers create a contract using shared values, goals and outcome-based economics to create an agreement that is mutually beneficial for each party.
Traditional outsourcing and businesses relationships are focused on win-lose arrangements where one party benefits at the other’s expense. A Vested agreement creates a win-win relationship in which both parties are equally invested in one another’s success. Vested relationships depend on collaboration, transparency, flexibility and trust. Rather than traditional business relationships in which companies buy transactions or services from suppliers, vested relationships instead focus on buying results.
The model was developed out of research by the University of Tennessee and was led by Kate Vitasek, and was where Nigel (and others in the Litmus team) went to learn more about Vested. If you missed the interview with Nigel Forbes on EP Business in Hospitality, you can view it here
If you’d like to learn more about how the Vested approach can support your business contact us here
The Litmus team