- GE: The lessons of a corporate giant’s decline
Ever since legendary GE chief Jack Welch retired in 2001, GE has been looking to find the right business mix to regain investor confidence, said Holman Jenkins at The Wall Street Journal. It’s been a “plodding, slow-motion hunt,” and GE’s mess of businesses — light bulbs, wind turbines, insurance, and more — means the company “is unlikely to register buried problems until they are well advanced.” And boy does GE have problems, said Jim Cramer at The Street. Immelt’s mistakes were so grave that GE needs “the financial equivalent of a Truth and Reconciliation Commission.” Its insurance division charged “a pittance” for long-term care policies. Immelt also doubled down on power plants when the sector was in decline. Same with oil and gas, when “oil ran to $100” a barrel and was bound to fall.
https://theweek.com/articles/801447/ge-lessons-corporate-giants-decline
- How to deal when your boss plays favorites
One way to deal with this situation is to “deal with the little things instead of the big picture,” says Barbara Pachter, business etiquette expert and author of the book, The Communication Clinic: 99 Proven Cures for the Most Common Business Mistakes. So instead of focusing on the fact that your boss is playing favorites, turn your attention instead on what you want that you aren’t getting. If you want a special assignment, do your homework, go in, and ask for it.
If there’s a career goal you’re trying to reach, tell your boss about it, and then ask advice on how you can get there. The most important thing is to be straightforward. Otherwise, it might not be that your boss is playing favorites, but rather they just don’t know what you want.
https://www.fastcompany.com/90245852/4-ways-to-deal-with-not-being-your-boss-favorite
- Why we choke under pressure — and how to avoid it
- This Is How You Lead a Virtual Team Without Coming Across Like a Looming Sci-Fi Overlord
Lead with trust rather than fear. Micro-managers may feel a pang of discomfort from not being able to look over their remote team’s physical shoulders and may be tempted to resort to other forms of surveillance to keep them on track. This is both uncomfortable and demotivating for remote teams. The futuristic dictators portrayed in pop culture keep a close eye and ear on their subjects, ultimately disincentivizing communication as whole. Technology should be used to empower employees to communicate more effectively and efficiently, not to track or monitor performance. Trust is paramount.
- Employee Perks Might Not Be As Effective As You Think They Are
I believe the best way to create a sense of purpose in employees is to continually offer them opportunities to use their unique skills. And along these lines, a Namely survey confirmed that the most important factor leading to workplace satisfaction isn’t perks at all; it is a sense of purpose. In fact, 57 percent of employees surveyed desired “meaningful work” above all else. So, remind employees that you hired them for a reason: Their particular skill set fills an existing hole in your team. Then, get out of their way. Doing so will allow these new employees to bring their whole selves to work and will inspire their self-confidence more than programs or benefits ever could.
Photo by Wyatt Ryan on Unsplash