Leadership

Warren Buffett with the late Katharine Graham of the Washington Post at his 50th-birthday party in 1980. Image courtesy: Warren Buffett as seen on Fortune

Warren Buffett with the late Katharine Graham of the Washington Post at his 50th-birthday party in 1980. Image courtesy: Warren Buffett as seen on Fortune

The most recent issue of FORTUNE features an essay by Warren Buffett entitled, “Warren Buffett is bullish ... on women.”* In it, Mr. Buffett contributes his own thoughts to the recent dialogue taking place around women and work in the U.S., characterizing the unfortunate fact that barriers still remain.

Despite our track record as a nation, Mr. Buffett writes, “America has forged this success while utilizing, in large part, only half of the country's talent.”

Ultimately, Mr. Buffett’s FORTUNE essay issues a call to action not only to the men who continue to lead the majority of our corporations and occupy nearly all of the seats on our corporate boards, but also to those men who manage employees at any level.

Mr. Buffett states:

“No manager operates his or her plants at 80% efficiency when steps could be taken that would increase output. And no CEO wants male employees to be underutilized when improved training or working conditions would boost productivity. So take it one step further: If obvious benefits flow from helping the male component of the workforce achieve its potential, why in the world wouldn't you want to include its counterpart?”

While I don’t wholly agree with Mr. Buffett’s assessment on certain points (I’m sure he won’t lose any sleep over that), I did find his argument to be compelling. It also made me take a moment to look at the public relations profession in light of the argument that embracing the ascension of women to executive roles and directorships within companies, in addition to providing greater opportunity, mentorship and promotion of women through all levels of business makes business sense. Read the rest of this entry »

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I first met Al NeuhartAl Neuharthh when I was 17.

As a high school newspaper editor and journalism geek, I was lucky enough to be one of 102 students selected to represent their home states in Washington, D.C., at the Al Neuharth Free Spirit and Journalism Conference. For a week, I got to be the high school newspaper equivalent of Miss New Jersey.

Before the conference, my mom took me to Lord & Taylor to buy the first suit I’d ever owned (it had shoulder pads). And I got the lady at the Lancome counter at the mall to show me how to properly apply make-up so I didn’t look like Avril Lavigne (I was in my “very heavy eyeliner phase” at the time).

The Freedom Forum through the Al Neuharth Free Spirit Program, brought us all to D.C. to meet with such journalism hot shots as Tim Russert, Brian Lamb and John King. In addition to panel after panel of media luminaries, we were introduced to the modern-day free sprits Al admired so much. That year, the honorees included Jack Lalanne and Bethany Hamilton.

Al made frequent appearances throughout our week in DC. In no uncertain terms, he told us we were the future of journalism. The quality of that future, he said, was dependent on our protection of the First Amendment.

While Al always referred to himself as an S.O.B., he told us we were to be “free spirits.” (As Al demonstrated, an S.O.B. and free spirit can, in fact, be one in the same.) He encouraged us not to simply pursue our passions, but to advocate for something better and bigger than ourselves in the world. Read the rest of this entry »

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I'm reading a book called "How Children Succeed" and I'm taken by it. If there is one message from the book, it’s that teaching grit, curiosity, focus, optimism and overall character traits in children is possible - and leads to them becoming more successful. It also makes the point that focus and discipline often trump IQ and academic credentials in life. As an entrepreneur and an employer, this rings true to me on every level.

Marshmellow TestPerhaps one of the most intriguing chapters in the book discusses the traits of self control, willpower and the "Marshmallow Test." At a nursery school in California, a researcher brought each four-year-old into a small room, sat the child at a desk and offered a treat, such as a marshmallow. On the desk was a bell. The researcher told the child she was going to leave the room and the child could eat the marshmallow when she returned. Then she offered a choice; if the child wanted to eat the marshmallow, he or she just needed to ring the bell, the researcher would return and the child could have the marshmallow. But if the child waited until the researcher returned on her own, he or she would get two marshmallows.

Long story short, the kids that had the ability to delay gratification did better academically despite their IQ. Children who were able to wait for 15 minutes for their treat had SAT scores (later in life) that were, on average, 210 points higher than those of children who rang the bell in 30 seconds.

The marshmallow test brings me back to my own childhood experiences. My mom used to reward us with quarters for good deeds.  My brother James had a choice of using the quarter immediately to ride the electronic pony at the mall or to save his quarters for a larger reward down the line. He always saved those quarters (and that public school kid from Connecticut got himself into Yale and went on to do great things). In a world where instant gratification is the goal, learning to work for something over time and delay gratification is just one of many character traits essential for success.

At Prosek Partners we often ask recruits if they've had a "dirty job," such as bussing tables, riding the trash truck, bagging groceries or working in the steel mill (yes, one of our firm’s partners did that!) Why? Because we've found that having done a “dirty job” correlates with having a good work ethic, gratitude, empathy for the everyman and overall conscientiousness. But what it really comes down to is the correlation with character.  End of Story

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A recent op/ed in The New York Times about productivity in the office caught my attention. The piece, “Be More Productive. Take Time Off,” was written by Jason Fried, co-founder and CEO of 37signals, a software company. I was expecting to read a regurgitation of the arguments I’ve heard a hundred times before about how we’re a nation of workaholics. Much has been written about the 24/7 workweek, how Americans do not use all their vacation days and how taking a break to recharge batteries can have a huge impact not just on productivity, but on job satisfaction. I skipped this article at first and went on to read a piece on the same page about why race is still a problem for the Mormon Church. But I found my way back to the “Take Time Off” essay and discovered that Mr. Fried took the argument a little further than I’d been expecting.

His company, 37signals, has tried to integrate seasonal change into their calendar. He points out that after childhood, seasons cease to have functional meaning. “Work in February is the same as work in May. June’s the same as October. And it would be hard to tell August from April,” he says. Mr. Fried acknowledges that some professions (accounting comes to mind) have times of year that are busier than others, but he says that volume does not necessarily mean change.

His firm has different initiatives based on the seasons. In the summer, which he defines generously as from May to October, his company has four day work weeks. He says the surprising take-away from this experiment is that “better work gets done in four days than in five.” His reasoning is that because workers have less time to accomplish things, they waste less time. I can’t help but wonder if this initiative really works as well as Mr. Fried is claiming. If workers are getting more work done in a four day week, could it be because they’re logging more after-hours time, either officially or unofficially? Or does the smaller window of time really spur efficiency?

Mr. Fried also talks about the success his firm has had with an initiative called “June-on-your-own,” where all regular work is abandoned for a month and employees are encouraged to undertake creative initiatives. Maybe this works for Mr. Fried’s software company, but it is hard to imagine a concept like this translating into a client service heavy industry like public relations. Still, the concept of a month especially devoted to creative work (what we would call Breakthrough Ideas at Prosek) is definitely attractive.

What do you think about Mr. Fried’s points about following the seasons? Is it possible to get more done with less time? End of Story

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A recent article on Fox Small Business about new employee training—which I encourage everyone to read—caused me to reflect on the way we approach client immersion at Prosek.  In an organization like ours, it is critical to quickly establish how account work is divided, what our client mandate encompasses, the reasoning behind certain account processes and the history and industry context that help you place a client into a larger perspective. Our practitioners have very diverse industry backgrounds and quickly communicating their specific context is crucial.

Recently, part of my team responsibilities have grown to include getting new team members familiarized and ramped up with our clients, helping them to understand the work we do for them and the audiences/industries that are important. After all, our agency makes it a priority to dedicate time and effort to thoroughly and enthusiastically introducing folks who join our team to everything from client history—both the company’s history and their history with us— to providing context on where they fit within their industry, who their main competitors are and what our PR mandate is for them with details on the different groups we serve for those larger clients, our internal processes and the reasoning behind everything that we do for them. After all, without the full picture how can our team fully deliver the results our clients have come to expect?

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