What’s a good investment for 2022?
This might sound unconventional, but hands down I’d go with blue-chip art. A Basquait painting soared 2,209,900% when it was bought for $5,000 and sold for $110,500,000. And if you(Continue reading)
Strong leaders must do the following things –
1. Define business priorities. There are always long term goals but thats what they are long term. You are here right now and reaching long term goals is always uncertain. This is the problem with having long term visions. Every CEO must define priorities for current quarter, 6 months or year. If you really see, it never takes very long time to plan. You can come up with long term dreams anytime. What really matters is what you will do now and in near future.
2. Communicate business priorities. Every CEO must repeat the priorities enough times that it gets engrained in “all” employees. This is rather easy than it seems. You can easily spot an employee who isn’t “working towards” the current priorities. The beauty of having clear organisation wide priorities is that everyone gets aligned and eventually bonded raising effectiveness dramatically. This creates a sense of purpose for otherwise confused employees. One caveat is that you shouldn’t overdo this. You should have 3-5 active priorities at any point of time.
3. Remove obstacles on the way of executing priorities. Creating and communicating priorities is a piece of cake compared to this one. Day in and day out, million things will come in the way of CEO and employees to execute the priorities. A big customer gets upset, board is asking for new things, a key employee resigned etc. CEOs job is to keep removing the obstacles making sure all employees are moving forward without much resistance.
Having done the above will benefit everyone – business, employees, investors and customers.
Firstly, give them a real vision to believe, not some marketing hype, a real vision.
Give them an open, honest and approachable structure, where thier thoughts are respected.
Give them discipline and structure. Make expectations abundantly clear.
Give them a fun and supportive work environment. Give them some widget freedoms, some people are all about the branded gear and the company car, that helps them define themselves. Do that if it is practical.
Give them your loyalty. I employed a man that had been convicted of violent crime in his youth. He was a bike gang member with tattoos, swastika, skull rings and everything. He met my standards, so I went into Bat for him. I gave him loyalty, and he reciprocated over and above the call of duty.
Give them a chance to do things they can’t do yet. We learn more in failure than success often.
Edit, and FFS if their job can be done remotely, encourage it!
How will marketing automation help you achieve business growth?
Marketing automation streamlines marketing processes, saves time and boosts revenue and growth.
Keep the company profitable and in business. If the company isn’t making money, then there is nothing else that you can do.
And perhaps, resign and find someone more qualified.
There is a Brazilian company called Semco.
They operate on a policy that workers have a huge degree of say in the daily operations of the entity.
- Want to buy out another company? – vote on it.
- Want to have redundancies? – vote on it (and the workers voted for the cuts).
- Want to attend the board meeting? – sure one seat there for the first person in.
- Want to take some time off work? Sure how much do you need, but don’t let the team down.
- Want to stay in that job for more than 5 years? – no chance. No boredom please.
- Want to choose your own salary? – sure but then the workers have the chance to see it and put your job on the line.
- Want to see the accounts? Talk to the Union as the company shares that information with those supposed ‘Commies’.
This company is very successful because the company treats everyone like adults and gives them strong ownership in their operations.
Now the reason they went like this is that the son of the owner of the company got dumped with the job. And I doubt that I would be put in such a similar situation.
My number one benefit I would strive for is to make or keep the company profitable. That way all the employees get to remain employed.
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I’m big believer that the greatest thing you can do to benefit your employees is to make them engaged at work. Beyond the basics (market wages, health and retirement benefits), it’s all about giving employees the big 3 motivators of autonomy, mastery and purpose, so well described by Daniel Pink in this RSA video:
Autonomy: assess the roles and duties of every employee, and identify areas where they should be given more autonomy/discretion so that they can benefit from the two way road that is accountability: (1) praise for good decisions, (2) accountability for bad ones. Make sure there is a mechanism in place that quantifies these two measures, and helps employees improve in (2). Additional ways to improve autonomy:
- Where possible, give the employees an opportunity to work remotely wherever/whenever they want using the principle of JGWD (Just Get Work Done)
- Cut the total number of meetings and limit meetings to 20 minutes (like a TED talk)
Mastery: and with increased autonomy, the employees are given an opportunity to showcase their improved mastery in their role. Examples:
- Implement a dashboard “progress bar” so that the employees can monitor their growth in mastering their roles and career. This dashboard serves two purposes: (1) it is fulfilling to see yourself improve over time, (2) they see where their career is headed as they continue to improve.
- Provide an allowance (whether that’s a cash stipend or time) for classes that help the employee with her mastery.
- “Demo Day”: periodically give employees an opportunity to demonstrate their mastery and work together to create solutions that could help the Company and have a peer review award the winner (inspired by Atlassian’s idea).
Purpose: the employees must be allowed to care about what the company does and how its vision changes the world. To that end, it is important that employees see tangibly the positive affects on the community. For example, hold a 20 minute all hands meeting quarterly (or monthly) to hear a story from somebody positively affected by the company. Some examples:
- Petroleum Company: a plastics manufacturer listing all the important plastic products they create from petroleum; a patient using a plastic prosthetic thanking the hard working people who refine petroleum to create the special plastic used in her prosthetic; the mayor of a small town thanking the company for supporting the community with charitable giving, jobs and commerce.
- Data Analytics Company: a teacher thanking the company for software that helped her improve her teaching program; a police officer thanking the company for helping him reduce crime; a patient thanking the company for her her recovery due to the correct cocktail of cancer treatments.
- Shoe company: a construction worker thanking the company for 20 years of footwear; a security guard thanking the company for helping him get through the night shift; an athlete thanking the company for his gold medals at the Olympics.
This is an odd question to be asked and I wonder whether the reason is my profession, an artist, and hence someone who would make an implausible CEO. In that spirit I would answer that employers that I have valued placed much trust in my abilities and conferred the freedom to creatively fulfil the work I was hired for.
The returns on that faith may be quite difficult to quantify bluntly in terms of raw productivity but it is certain that most employees would respond positively to such an environment and those with a love for their profession will happily deliver their best efforts. A toxic workplace with disgruntled, undervalued staff is ultimately doomed as an enterprise.
The author is the CEO of his company.The author treats his employees as co-owners of the company.
The owner empowers his fellow workers through empowerment & inclusion.
They (my fellow workers) work for us and not for me,the CEO.
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if i am a CEO i would make it compulsory for every employee to acknowledge each others’ achievement and be thankful to them for helping them to do their part of function satisfactorily. Also, i would make it compulsory for every other person to actively contribute one idea as often as he can and become an active counter part of company and enhance innovation. I will completely ban employees talking behind and colleagues encouraging it including the managers.
I was working at a company some years ago that had a huge problem with culture and turned it around. The board resolved it by bringing in a CEO whose primary role was to identify the causes and get rid of them. They did this quickly – I think their total tenure was just 12 months. Next the board brought in a CEO that really championed culture and he spent his tenure building the new culture. Finally they transitioned to a new CEO. He had been brought into the business in a senior role and the transition was pretty smooth.
In all, the transition took under four years: Some observations that only became clear to me when looking back on it:
- Both of the transitional CEOs were well known to the board. The first one popped up again at another company also associated with several board members about six months later and did a very similar transformation. Likewise, the second one left and returned to a senior role at a different associated company.
- The jobs couldn’t have been done by one person. The first CEO was widely disliked by many staff, perhaps even hated. He wiped out a lot of perks and eliminated a bunch of positions entirely. Similarly the second CEO didn’t have the mandate to make large changes. It would have been hard for him to transition from two years of getting people back on their feet to fully leading the company. Changing the leadership made it much easier to say “that’s might be how it was, but I do it differently.”
- The transitions were very smooth. Shifting between the fist and second CEO was done plenty of notice and with the first one staying in a consultancy role for a while, and the third CEO worked in the executive team for a year before taking over.
- The whole thing must have burned a freakish amount of money. Productivity was right down for about three years