The Cracker Jack Inside The Box Of Capitalism
Mark Stevens - CEO of marketing firm MSCO, Inc.| Bestselling
When I started out in business, I was (mis)guided by the myth that the very nature of commercial enterprise (in my case entrepreneurialism) required and rewarded an every-person -for-themselves mentality. That you took the steps that you needed to take, with a greater focus on self reward than on generosity.
But in practice, I found that to be completely untrue. That in fact, you succeed (both financially and spiritually) by giving far more than you take. For example:
*Take every opportunity you have to mentor people who want to learn and grow. It is a practice that yields exceptional rewards for all of the parties involved.
*When it comes to compensation, especially the funds for raises and bonuses, the owner who takes last -- after what is left when the rest of team is rewarded -- creates a far superior culture and thus a vastly "richer" life.
When the toughest assignments come along, do them with the team members you assign -- at least at first -- as opposed to watching from a catered bunker.
The greatest reward from all of this is that when I go to work, I don't feel as if I am going to work, per se, I feel as if I am spending my days with family.This can best be explained under the category of "homework." When my company us inundated with work, I know that everyone's plate is full. People don't whine, because we don't have that kind of culture. But I can see it/sense it and I know that it is hard to keep up.
That's when I take one of two actions or both:
1. Most important, I encourage team members to give me homework. In other words, to do the work -- create a branding, write an ad, help to develop a strategy -- that they just can't seem to fit into their schedules or would not be able to give the proper time and attention. They feel appreciative but I gain the greater reward. There is something exhilarating about this pure, flat organizational firm of collaboration.
2. If the bump in workload does not appear to be a temporary blip, we as a team discuss the need for new hires and share in the interview and selection process. It's interesting how great teams do not want mediocre performers in their midst. At times, they prefer to continue to handle all of the work, even if we have found a good candidate to join. They want great.
The generosity, the prize in the Cracker Jack box, is a thrilling thing to behold.
https://www.linkedin.com/pulse/cracker-jack-inside-box-capitalism-mark-stevens
Tags
Who is online
175 visitors
I had the good fortune to work for a boss and at a company similar to the one illustrated in this testimonial.
Profit sharing, flexible work schedules, tuition assistance, good pay, great benefits and the ability to set and reach goals - those are the basic that make a great company like this one (and the one I worked for) and the result is a loyal work force (low turnover), an easy job for recruiters (employer of choice) and a profitable business (happy shareholders)
How about it - did you have a boss like this in your career?
I wonder if profit sharing is commonplace ...
Petey
I doubt that it is common in all businesses, but from business networking in the midwest, I can tell you that it is common (to differing levels) in many of the small to medium/large companies in manufacturing.
It was such a recruiting and retention tool for us that I cannot imagine how much harder my job as HR Director would have been without all the factors I described above.