A Leadership Lesson from Trappist Monks that Made Me Rich

Great Leadership By Dan

Though the financial incentives were more than generous, giving up control over an enterprise that we had patiently built from scratch was not an easy decision. It allows us to temper our competitive fire with a commitment to only the highest ethical standards. Guest post from August Turak : On March 31, 2000, my partners and I sold our company.

Givers give without expectation of immediate return.

Coaching Tip

Traditionally the thinking has been that employers should appeal to workers’ more obvious forms of self-interest: financial incentives, yes, but also work that is inherently interesting or offers the possibility for career advancement. Sources: The New York Times Magazine, March 31, 2013 and www.LawofReciprocity.com. Books Business Coaching Career Communication Ethics Self-Awareness Success Work life

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Six Rules to Hire By

Chart Your Course

The economy continues to improve with increased job creation in 2013. They host job fairs, place advertisements or offer current employees incentives for bringing in new hires. Every person hired contributes to a company’s culture with their talents, ethics and enthusiasm, and a bad hire is a waste of time, energy and money. Payroll services giant ADP reported employers added 180,000 new private sector jobs in February. Meanwhile the U.S.

A different kind of thanks. Yours.

Strategy Driven

The bad news is it’s so full of retail shopping incentives, mobs of people, and ‘today only deals’ that the festivity of Thanksgiving is somewhat lost in the shuffle. Your humor, your friendliness, your helpfulness, your approachability, your trustworthiness, your honesty, your ethics, and maybe even your morality.

Are You Among the 14% Who Always Tell the Truth?

Harvard Business Review

The rest reacted in variable ways to incentives, sometimes lying and sometimes not, except for one participant who always lied , regardless of circumstances. Ethics In a laboratory experiment to test people’s willingness to lie to a partner in a game, 14% of people always chose to be truthful, even if lying would have benefited them, and 14% chose to lie whenever they stood to gain, according to a team led by Uri Gneezy of the University of California, San Diego.

Culture, Not Leverage, Made Wall Street Riskier

Harvard Business Review

Corporate incentives and culture may be even more important in explaining what changed on Wall Street in recent years, and by placing too much emphasis on quantitative ratios like leverage, we may be missing some other important parts of the problem. At Goldman Sachs, one element that was different in the lead up to the financial crisis was not the amount of leverage but the constraints and incentives faced by partners. Ethics Finance Risk management Over the summer, U.S.

Research: Underdog Businesses Are More Likely to Post Fake Yelp Reviews

Harvard Business Review

But some businesses face strong incentives to post fake reviews, which compromises the trustworthiness of such review sites. Georgios: The incentives are economic. So businesses will respond to incentives such as a bad recent reputation, or having few reviews, or generally being unknown. If you think about your ability to influence this at the margin, especially when you don''t have many reviews, you have a very high-powered incentive to leave fake reviews.

How to Use Psychometric Testing in Hiring

Harvard Business Review

Since the cost of a bad hire is widely estimated to be at least one year’s pay, there are huge incentives for organizations to get hiring right. But there are both ethical and pragmatic benefits to sharing results, regardless of whether a candidate receives or accepts an offer of employment. Roughly 18% of companies currently use personality tests in the hiring process, according to a survey conducted by the Society for Human Resource Management.

How to Use Psychometric Testing in Hiring

Harvard Business Review

Since the cost of a bad hire is widely estimated to be at least one year''s pay, there are huge incentives for organizations to get hiring right. But there are both ethical and pragmatic benefits to sharing results, regardless of whether a candidate receives or accepts an offer of employment. Roughly 18% of companies currently use personality tests in the hiring process, according to a survey conducted by the Society for Human Resource Management.

Get the Most Out of Executive Coaching

Harvard Business Review

The reason why backsliding on our ostensible commitments to change is so common is because most change is the result of compliance to a demand, incentive, or threat. An ethical coach doesn''t bring pom-poms to meetings with clients, so hire to your needs. Remember "light bulb" jokes? My favorite was, "How many shrinks does it take to change a light bulb? One, but the light bulb must want to change."

Seven Fun Facts About Corporate Taxes

Harvard Business Review

Accountants, tax lawyers, and economists who actually spend time around the tax system point out that when you eliminate one form of taxation, you have to raise rates on other taxes to make up for the lost income, and those higher rates increase the incentives for tax avoidance and evasion. Ethically and, more important, politically it probably isn''t. Thanks to U.S. Carl Levin''s Permanent Subcommittee on Investigations , corporate taxes were all over the headlines this week.

A Couple Reasons to Smile About

Women on Business

Finally, after tough negotiations with Republican leaders, the President announced a comprehensive tax package that not only addressed income, capital gains and estate tax rates, but also the AMT, unemployment insurance and many expiring individual and business tax credits and incentives. Extended many energy and business credits and incentives, such as the Research & Development credit.

What It Will Take to Change the Culture of Wall Street

Harvard Business Review

The dissertation became a book, titled What Happened to Goldman Sachs: An Insider’s Story of Organizational Drift and Its Unintended Consequences (HBR Press, 2013). One of the changes I document in the book is how Goldman drifted from a focus on ethical standards of behavior to legal ones — from what one “should” do to what one “can” do. This kind of interdependence has the potential to move the focus back to ethical standards of behavior instead of just legal ones.

Cheating at Harvard, and in the "Real World"

Harvard Business Review

The higher the stakes of the test, the greater the incentive to cheat. I don't know what hard skills I may need in 2030, 2020, or even 2013. There was absolutely no incentive to learn any material." It is heartbreaking that even one student at a university of Harvard's caliber cannot see learning as its own incentive. Education Ethics125 Harvard undergraduates stand charged with academic dishonesty after collaborating on a final exam last spring.

Workplace Wellness Programs Could Be Putting Your Health Data at Risk

Harvard Business

A Kaiser Family Foundation report shows that 99% of firms with 200 or more workers offered at least one wellness program in 2013. The majority of these firms also offered some financial incentive, such as the reduction of insurance premiums, for employees to participate. Although the workplace wellness program is a largely unregulated industry, employers should abide by voluntary ethical frameworks.

Don’t Try to Be a Publisher and a Platform at the Same Time

Harvard Business Review

Making these hybrids work over the long term is difficult, because their incentives work against each other. Platform and publisher incentives are better aligned when a platform is new. As they lower their safeguards to attract more users, platishers enter a legal and ethical gray area. For instance, a “seduction guide” on Kickstarter raised $15,000 and caused massive backlash in 2013, leading the company to ban that whole category of guides.