What Do Your Workers Really Care About? Walmart was surprised.

When employees are asked what their biggest business complaints are about, one might jump to the conclusion that their compensation would be listed as the number one issue. Walmart found out otherwise. Walmart's CEO asked his employees a question  and even he was surprised at the response. Greg Foran, the recently appointed US CEO of Walmart asked workers the following: "Can you send me three things where you think we've cut muscle instead of fat, and can you email it to me?" From the thousands of responses he received, a surprising theme emerged: Workers wanted toilet-seat covers returned to the stores' restrooms. Foran said, "Small thing, but really important. In the interest of saving money, we'd taken those things out."  Foran and his team came to the conclusion, that fixing "hygiene factors" were vital to get employee's buy in for the turnaround plan. Why this matters? Gallup has reported that organizations…

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How Do You Orchestrate a Culture of ‘A’ Players? One Moment at a Time.

        "Group culture is one of the most powerful forces on the planet." Daniel Coyle. Imagine your key manager departed from your MI retail store, and sent out the following email to all his contacts. Dear Friends, and Customers.  Earlier this month, I resigned from as store manager at XYZ Music Store and will end my position with the company on January 1, 2019. I have sincerely enjoyed working with all the members of the team, and appreciate the many close customer relationships I’ve developed over the years. On February 1st, I will continue to take care of my customers with another great music company.1 Please do not hesitate to reach out to me on my personal phone or email.   To read the rest, check out my January MMR column. How Do You Orchestrate a Culture of 'A' Players? One Moment at a Time.

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My Five Best 2018 Ideas

My Five Best  Ideas from my "Sound of Money"  column  published in MMR. OK. The title is a bit much, because as a newly minted 2018 grandfather, my best idea was to marry and have a family. Still, the ideas all previously published in MMR are all really powerful. If you want to dig in more, visit jaimieblackman.com, for links to the complete column. 1- Exiting? A Buyer’s Perspective., MMR, January, 2018 When it comes to how much a business is worth, who better to ask than Steve Zapf, president of Music & Arts. When I asked Zapf what were the key drivers for valuation multiples, the seller’s intellectual capital was on the top of his mind. “ Larger businesses with consistent earnings that are less dependent on a single person provide for a more stable and predictable operation after the acquisition,” he says. “These are factors give us the necessary confidence…

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How to Retain, Grow, and Recruit Top Performers

  I was recently talking to an MI retailer with his two successors. Here’s how the conversation began. Jaimie- So tell me about store #2. How’s the team? Owner- They have their challenges. Successors- They are not motivated. They don’t jive with our culture.  They are negative. We think there needs to be some changes. Let’s face it. Your few top performers, are responsible for most of your profit. That means, your mediocre players are responsible for most of your losses. According to the 2016 Conference Board CEO Challenge Survey, the number one concern of CEOs was retaining and growing talent. To read the rest, check out my November MMR column. How to Retain, Grow, and Recruit Top Performers.      

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