Great Manager Newsletter - Sept 25, 2024
Raises are Shrinking - Why?
Before we get started, I want to announce that I’ve opened enrollment for a course I am offering called Reduce the Stress of Managing. It will be held Oct 16-17 online and a must for managers who are dealing with increased stress and burnout. Enroll here. I am planning on running another session in Nov, but don’t delay because seating is limited.
On this day in 1926, Henry Ford announced that Ford would be moving to a 5-day, 8 hour work week. A reminder that what we think is normal was at one point brand spanking new.
The next time you scoff at a 4-day work week or complete remote work (like so many companies are doing now), a 40-hour work week once was unthinkable.
Let’s get started.
1 Big Thing
Raises are Shrinking - Why?
The Wall Street Journal article discusses the trend of smaller salary increases for employees in the near future due to economic uncertainties and budget constraints faced by many companies. Employers are becoming more cautious with raises as they navigate rising costs and economic pressures. As a result, workers should prepare for raises that may be smaller than expected and consider other forms of compensation or benefits that might be negotiated in place of larger salary increments.
Watch This
3 Lessons on Decision Making from a Poker Champion
Is it better to be lucky or good? Should we trust our gut feelings or rely on probabilities and careful analysis when making important decisions? In this quick talk, professional poker player Liv Boeree shares three strategies she's learned from the game and how we can apply them to real life.
By the Numbers
44%
Workers mentioned burnout in their working life increased by 44% over levels from February 2020.
Words of Wisdom
I worry that business leaders are more interested in material gain than they are in having the patience to build up a strong organization, and a strong organization starts with caring for their people.
― John Wooden
Business Laughs
Discussion Topics
Can you share a lesson you've learned as a manager that has shaped your leadership style?
What I'm working on this week....
I’ve announced my Reduce the Stress of Managing class to be held Oct 16-17. I’ve got a drastically reduced price for this, so click here to sign up.
Been holed up in my office doing lots of prep - has winter started yet?
Have a great week. Be a Great Manager.