Tag: promote someone

Learnings

If you’re about to promote someone, tell them they would be doing you a great favor. It will make them feel doubly important

Chris Labs

Woodrow Wilson followed that policy even when inviting William Gibbs McAdoo to become a member of his cabinet. That was the highest honor he could confer upon anyone, and yet Wilson extended the invitation in such a way as to make as to make McAdoo feel doubly important. Here is the story in McAdoo’s own words:”He [Wilson] said that he was making up his cabinet and that he would be very glad if I would accept a place in it as Secretary of the Treasury. He had a delightful way of putting things; he created the impression that by accepting … Continue reading If you’re about to promote someone, tell them they would be doing you a great favor. It will make them feel doubly important

Learnings

I don’t criticize, I believe in giving a person incentive to work instead.

Chris Labs

This is from a man who earned over a million dollar a year when someone earning fifty dollars a week was considered well off. “I consider my ability to arouse enthusiasm among my people,” sais Schwab, “the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement. There is nothing else that so kills the ambitions of a person as criticisms from superiors. I never criticize anyone.[…] So I am anxious to praise but loath to find fault.” -Charles Schwab *Charles Schwab was one of the first people in … Continue reading I don’t criticize, I believe in giving a person incentive to work instead.

Hiring

When you bring someone new on the team

Chris Labs

Do a dream exercise with them. Go to a conference room and ask the following: “Who are you” “Who are you trying to be by the time you’re done here” This job is like getting into a car. It’s going on a roadtrip. You’re gonna a bunch of other people in the car with you, we’re cool, it’s gonna be a fun hang, the music is good, the vibe is nice. Ok we’re trying to get to some destination, and your job is not to be focused on the car, making the car as great as it can be. Recognize … Continue reading When you bring someone new on the team

Being CEO

Don’t leave senior employees in any job too long.

Chris Labs

If this happens, as it has in my companies occasionally, it means you are not focusing on that business. You will get the most out of any senior employee in their first year or two in a new position. After that, they enter a “comfort zone.” Consider asking them to create a new division or company for you. But do not leave them to quietly go to seed – they will get bored and resign anyway, if they’re any good. -How to get rich, p.229 Continue reading Don’t leave senior employees in any job too long.

Being CEO

Offer legal perks that you have paid for yourself to employees.

Chris Labs

This sounds crazy, but it works. I allow my employees, for example, the use of my Rolls-Royces or Bentleys for their weddings. I permit them to stay at my homes around the world if they have performed well. Such perks are legal because I paid for them myself from after-tax dollars or pounds. -How to get rich, p.212 Continue reading Offer legal perks that you have paid for yourself to employees.