Saturday, September 26, 2009

Cameron Herold, part 3

Provide full disclosure to your employees.

Cameron Herold remembers when his employees thought the company was making too much money (ie, there was no real reason for them to work so hard). He realized they knew nothing about the concept of variable expenses, so he sat down with them and opened up the books to show how things were really going. Suddenly, they started working harder because they feared the company was going to go out of business.

Herold also reccommends weekly coaching meetings with your key reports. Don't follow up on tasks not done. Focus on three positive things:

* Direction
* Skill Development
* Support

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