6/11/08: A midweek look at the business blogs

 
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Here's my pick of the five best posts from this week's business blogs. I'm pointing you to posts on measurement for success, cost of labor, co-CEOs, making your employees love you, and dangerous praise.

From CEO Blog: What Gets Measured Gets Done
"One of the reasons that I have been able to stick to a workout routine for the last 15 years is that I track what workouts I do. The simple act of tracking is enough to make me want to keep doing it and keep doing it well."

Wally's Comment: This is one of those hoary old management sayings that hangs around because it's both true and useful. Jim Estill does an excellent job of both giving you an example and ideas on how to integrate measurement into your life.

From Compensation Force: Just Don't Call it a Cost of Living Increase
"We are all feeling the pressure of rising prices, and our friends at the Economic Research Institute predict that this will soon translate (and for many of you, perhaps already has) into pressure from employees to address the increase in cost of living. Step carefully, for this is slippery territory. I have posted before on the distinction between cost of living and cost of labor, an absolutely critical one when it comes to compensation philosophy and compensation communication. It speaks - I believe - to the very purpose of your pay program.

Wally's Comment: Ann Bares offers advice about the difference between "cost of living" and "cost of labor" and what it is you should be paying for.

From Jena McGregor at Business Week: Are Two Heads Better than One at Martha Stewart?
"Martha Stewart Living Omnimedia CEO Susan Lyne has stepped down. Replacing her is not one, but two CEOs—and no, neither of them is Martha. They are Robin Marino, MSLO’s president of merchandising and former president of Kate Spade, and Wenda Harris Millard, president of media and former Yahoo sales chief. The two “co-CEOs,” who are not named as interim choices, will both report to Charles Koppelman, the chairman of the board."

Wally's Comment: It's hard enough for one person to provide clear direction. With two the possibilities of cross communication and "shopping for the decision you want" increase exponentially. Plus there's the question of why the last CEO left.

From Alison Green at US News & World Report: 10 Ways to Make Your Employees Love You
"Confining myself to 10 turned out to be hard—there are so many ways to manage badly and so many things that it's important to do well. So here are 10 to start off with, and I hope people will add more."

Wally's Comment: A great post and a must read for bosses everywhere.

From Execupundit: Dangerous Praise
"We may sense that giving praise can be dangerous but then we quickly dismiss such fears by thinking, "It's praise. Who can object to something favorable?" And that is where we first err. Praise, when mishandled, can be as cutting as a knife. Its related blunders may continue to wound years later."

Wally's Comment: Michael Wade is at his lucid best in this post about why praise is not automatically a good thing. Read it for clear direction about how to do praise right.

Wally's Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training. Click here to check it out.

 
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Wally Bock has helped people learn to be great bosses for more than a quarter century. His latest book, Performance Talk: The One-on-One Part of Leadership, makes learning key leadership principles almost effortless by teaching through a story and providing lists of resources for further growth.

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  • 6/13/2008 12:14 PM Mike Myatt wrote:
    Hi Wally:

    I concur with Michael Wade's view on dangerous praise. Inappropriate or disingenuous praise is rarely, if ever, helpful. Rather it is most often veiwed as condescending, pompous or patronizing.

    Wally, you might be interested in a post I authored on "Key Employees" which could be viewed as an indirect extension of Michael's thoughts. It can be found here: http://www.n2growth.com/blog/?p=212

    Best wishes for continued success Wally...
    Reply to this
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