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Tuesday, August 10, 2021

WSJ: A No-Jerks Rule Can Make Your Business (And Law School) Thrive

Following up on my earlier posts (hyperlinks under):  Wall Avenue Journal, The Benefit of a No-Jerks Rule:

The JerkQuickly after Ravi Saligram took cost of the corporate that makes Sharpie markers and Graco strollers, he supplied his new workforce a blunt message: “no assholes,” learn a slide proven to about 30,000 staff around the globe.

It was 2019, and Newell Manufacturers Inc. was debt-laden, shedding gross sales and struggling by means of yet one more restructuring.

In a town-hall type assembly on the firm’s Atlanta headquarters, he laid out his administration philosophy. It was typical fare till Mr. Saligram, the previous CEO of OfficeMax and Ritchie Bros. Auctioneers Inc., flipped to a bullet-point checklist of his key tenets—beginning along with his PG-13 edict.

“I used to be stunned,” recollects Lisa McCarthy, an govt who was in attendance. “I believed, ‘Wow, this can be a completely different approach of doing issues.’ ”

Mr. Saligram, 65 years outdated, says the mandate is as severe as slashing debt and boosting gross sales, which have improved dramatically throughout his tenure. The corporate’s share worth is up about 33% since he turned CEO, greater than different consumer-products firms over the identical interval.

Government infighting and concern amongst staff that they might be punished for errors crippled Newell greater than every other problem, from the corporate’s tangled paperwork to its struggling manufacturers to blows from Covid-19

Prior TaxProf Weblog protection:

https://taxprof.typepad.com/taxprof_blog/2021/08/wsj-a-no-jerks-rule-can-make-your-business-and-law-school-thrive.html

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