After 60 years of building businesses, Jack Nadel knows about managing people. And he's devised a simple success formula.
"You succeed with relationships, results and rewards," says Nadel, 87, who founded Jack Nadel International, a marketing and sales promotion firm, in 1953. "It all starts with a relationship. Then you need solid results from your staff. And you better reward people for their effort."
To cultivate positive relationships with employees, dignify their opinions. Even if you disagree, listen respectfully to suggestions that initially seem misguided.
Employees often tell us that the traits they admire most in great bosses are the ability to listen and a willingness to say, "I'm wrong and you're right."
Superior results flow from simple, well-chosen metrics. If you measure what matters most and help everyone track the same critical data on an ongoing basis, you increase the odds that workers will produce at the high level you seek.
Rich rewards keep valuable employees from jumping ship. By recognizing their contribution with what they deem generous compensation and benefits—along with tantalizing extras like coveted perks—you show your appreciation in meaningful ways.
If you're shy or a self-described introvert, you may assume you're ill equipped to foster strong relationships. But don't let yourself off the hook so easily. Show interest in others, ask lots of questions and digest what you hear without judging it instantly.