Business
Pricing Policies That Protect Your Brand (via Harvard Business Review)
Successful brands typically implement unilateral policies that set the minimum resale price (MRP) or minimum allowable price (MAP). By designing, implementing, and enforcing these policies, brands can keep grey-markets at bay and hold retailers accountable for not cheapening the brand.
What Will U.S. Labor Protections Look Like After Coronavirus? (via Harvard Business Review)
Crises are useful in exposing fundamental failures in a system — in this case healthcare coverage being tied to employment, inadequate labor protections. It’s doubtful that the US $2 trillion bill will address the root causes and will only be a bandage.
Career
The Simple Joy of Learning on the Job (via Harvard Business Review)
- Learning illuminates the unknown and makes us aware of new capabilities
- Learning brings an immediate-term achievement
- You can apply what you learn to the real world
- There’s joy in reflecting on what you’ve learned
- Sharing what you learn can bring joy, as we’re social creatures
- Make an effort to learn broadly (think T-shape)
- Satya Nadella wants employees who aren’t “know it alls” but “learn it alls”
How Insider CEOs Succeed (via Harvard Business Review)
- Don’t operate in the shadow of your past; see yourself moving out of your old role and into your new one.
- You will need to make tough calls that will disappoint people that supported you becoming CEO; if you can get 80% consensus, that’s okay.
- You will lead people that were formerly your peers and will be less accessible to your former reports. Take the time to manage that transition early.
- Establish the right pace of change; now that you’re in charge, if you do too much too soon, people will get change fatigue.
- Transitions of power should be intentional; work with the outgoing CEO to navigate this.
If You’re Burning Out, Carve a New Path (via Harvard Business Review)
- “…a lack of meaning in our work, limited agency over how we achieve our goals, and insufficient novelty in the tasks we engage in every day can have serious negative impacts on our mental and physical health.”
- “For organizations looking to retain their top talent, it’s important to understand that boredom is kryptonite for high-performers and inspiration-seeking millennials.”
Communication
10 Digital Miscommunications — and How to Avoid Them (via Harvard Business Review)
- Add emojis (but proceed with caution)
- Realize typos send a message
- Emotionally proofread your messages
- Punctuation marks matter even more for one-word or very short sentences
- Use richer communication channels when you’re first getting to know each other
- Default to video in general, when you can
- Communicate your level of urgency in Slack
- Don’t panic
- Avoid email when you need a “yes”
- Don’t send emails or Slack messages during off hours if it’s not urgent
Culture
Why Is the U.S. Behind on Coronavirus Testing? (via Harvard Business Review)
- “Despite being awash in information coming from every direction, today’s decision-makers operate in an uncertain world where they lack the right data to inform strategic and tactical decisions. Consequently, for better or worse, their actions tend to rely on experience, intuition, and beliefs. But this all too often doesn’t work.”
- Cultivate curiosity
- Data > opinion
- Embrace an experimental mindset (e.g., CEO says X will solve a problem, let’s test that theory and see if it’s true)
The Difference Between Principles and Values
Our company has a cultural ambassador initiative that’s moving from values to principles, so I wanted to understand more about why that’s important. Apparently this came from Stephen Covey. Principles are unchanging (e.g., gravity) whereas values are internal and fluid.
Be a Colleague that Others Can Confide In (via Harvard Business Review)
- Ask more than once (e.g., “I know you said you’re fine earlier, but I felt something was off so I want to ask again.”)
- Ask something in addition to “How are you?” (e.g., “What was good about your weekend?”)
- Remember details about someone’s life, and check in (e.g., “How did your dad’s surgery go?”)
- Notice body language, and inquire gently
- Model vulnerability by sharing when you’re not fine
- Create safe conditions for others to open up — honor confidentiality, address concerns directly with people you’re worried about, don’t offer advice unless asked
Leadership
Write a Job Description That Attracts the Right Candidate (via Harvard Business Review)
- Know what you need now, but also envision the future. Think of the job as an s-curve.
- Consider the context; you’re hiring someone to help your company grow and the person grow. You may have talent in your ranks you’re unaware of.
- Avoid limiting language (e.g., experienced, ninja).
- Think about the meaning of the work. We can’t all work on world-changing ideas, but we can make “our corner of the world happier, brighter, and safer in the some small but significant way.”
What Your Coworkers Need Right Now is Compassion (via Harvard Business Review)
- This is an opportunity for connection
- People cope differently (e.g., some people dig in to work, others can’t focus)
- Be generous in your interpretations
- Acknowledge how you’re feeling
- Accept that your coworkers’ home lives are now relevant to you
- Don’t compare suffering
How Managers Can Support Remote Employees (via Harvard Business Review)
- Proactively reach out to people without a specific agenda; don’t just say, “Let me know if you need anything” and never check in
- Set up office hours; when one person joins, lock the meeting
- Provide stability through consistent rituals
- Enhance safety through clear boundaries (e.g., “I’m taking 30 minutes to have lunch with my family”)
- Stay ahead of the game by inviting problems, not just solutions
- Enable capacity through feedback
Our book club talked about vision and strategy, metrics and baselines, and broad organizational changes.
7 Leadership Lessons Men Can Learn from Women (via Harvard Business Review)
- Don’t lean in when you’ve got nothing to lean in about
- Know your own limitations
- Motivate through transformation
- Put your people ahead of yourself
- Don’t command; empathize
- Focus on elevating others
- Don’t say you’re humbled; be humble
4 Behaviors That Help Leaders Manage a Crisis (via Harvard Business Review)
- Decide with speed over precision. Define priorities, make smart tradeoffs, name the decision makers, and embrace action while not punishing mistakes.
- Adapt boldly. Decide what not to do, throw out yesterday’s playbook, strengthen direct connections to the front line.
- Reliably deliver. Stay alert on a daily dashboard of priorities, set KPIs, keep your mind and body in fighting shape.
- Engage for impact. Connect individually with team members, engage with your team, ask for help as needed, ensure a focus on customers and employees, amplify positive messages.
Process
You’re Not Powerless in the Face of Uncertainty (via Harvard Business Review)
The way we frame events affects how we respond. For example, we tend to be loss-averse, meaning these statements feel different: 5% chance of losing vs. 95% chance of winning.
- Learning frame — what can I learn from this?
- Game frame — this is part of the game; we lose today but win the next time
- Gratitude frame — be thankful for what you already have
- Randomness frame — this isn’t intentional, it’s life
- Hero frame — heroes have losses, too
The Restorative Power of Ritual (via Harvard Business Review)
In times of uncertainty, we reach out for things we can control, which help us reduce anxiety and stress.