A while back I read "Jack: Straight from the Gut" by former GE CEO Jack Welch. There is a lot of really great advice in the book from a career perspective. But one of the most interesting pages (page 29) is where Jack explains about what happens when people make mistakes. Without the right support, they can get into a downwards performance spiral. This spiral can ultimately end in them having to leave the company. The interesting point around it is that he had seen this spiral downwards in more than just average employees. In fact he had seen it happen to "strong, bright, and self-confident general managers of billion-dollar businesses".
That's right - even great people fail and need support when things aren't going well. Obviously everyone wants to hire a "ready-made" star - those who have done it before and can hit the ground running. Nothing wrong with that, but that doesn't preclude a company from supporting and helping someone reach their peak, NO MATTER WHAT LEVEL OF EXPERIENCE AND ABILITY THEY CURRENTLY HAVE. After all, even general managers of billion-dollar businesses can lose confidence and spiral downwards.
With the above in mind, can you name some things you can do to help support your BEST employees? I have some suggestions, but am always looking for more.
1. Pay for their MBA (or other education opportunity).
2. Give them responsibility as a leader for a change to the business that is outside their current responsibility but that they have an interest in.
3. A surprise bonus or trip away.
4. A Thank You letter!!! You might laugh, but you should see how Jack Welch used them. If you are a manager of integrity and someone they respect, a written thank you will go a long way.
By the way, there is a right way and a wrong way to give these things. Make sure you know what that is before you start handing them out.
Steven, I agree with your comments on how even strong people need support. I personally lived this kind of situation a few months ago, while working for a multimillion automotive company. I am a selfdriven professional, and are very dedicated to everything I do in my professional and personal life, and after a successful implementation of over 70 plants I went through a personal situation that slowed me down and even though I raised my hand several times to my management I did not get the support I needed to get over that period of time where a strong top management support would have made things easier to my area and would have raised my commitment to the company. Since I was not able to work Saturdays and Sundays, get on last minute trips to get things solved, and work the usual 55 to 60 hours a week, I started being set apart, and mistreated. I had to take the decision to leave the company. I am currently still looking for a job, and although I have been offered two jobs, and have been in interviews with more than 10 companies, I have not been able to find the job that I want. My experience has made me change my expectations as far as environment, level of responsibility and time I plan to dedicate to a company. I understand that the poor management direction at my former job are to blame in part, and that not all companies have this kind of management, but it is really sad to realize that a bad experience, such as this, has made someone like me, that without braging have always been labeled as an outstanding and strong leader, has changed her professional priorities. And the saddest thing is that this situation also caused the 29 employees under my supervision realized what kind of management they had and change their own professional priorities and may of them left the company after I did.
I was glad to find your blog, it is very interesting as well as the books you reference there. This is the first time I talk about my experience and it sure felt good.
Posted by: Lya | Monday, March 20, 2006 at 01:15 PM