A 19-year-old fast food boss on $50,000 a year gives his 4 biggest takeaways from his first 7 months of management

Fast-food boss Jason Cabrera sits at a long wooden table wearing a black shirt and smiles.
Jason Cabrera, 19, told Insider his four biggest takeaways from his first seven months managing a restaurant.

  • Jason Cabrera, 19, is the general manager of a Layne’s Chicken Fingers in Texas, earning $50,000.
  • He started out buttering toast for $9.25 an hour three years ago and now manages 22 people.
  • Cabrera told Insider his four biggest takeaways from his first seven months in the job.
  • See more stories on Insider’s business page.

A 19-year-old manager of a chicken restaurant earning $50,000 a year told Insider what he’s learnt in his first seven months on the job.

Jason Cabrera, general manager of the Allen, Texas branch of Layne’s Chicken Fingers, started out buttering toast for $9.25-an-hour at the restaurant in late 2018, and now manages 22 people.

Garrett Reed, the CEO of Layne’s, told Insider in a separate interview that he would “usually have at least a handful of seasoned managers, people in their late 20s, early 30s.” However, he promoted three teenagers to general manager roles in recent months as the industry-wide labor shortage meant few experienced workers had applied.

Cabrera told Insider his four biggest takeaways from his first seven months:

He embraces his responsibility: “Anything that happens inside of that store is on me.”

When Cabrera accepted the job in January – one week after his 19th birthday – he said that he took on a raft of new responsibilities, including calculating labor costs, dealing with suppliers, and managing up to eight employees per shift.

“Just knowing that anything that happens inside of that store is on me. Anything that goes wrong, anything that goes right, it all comes back to me,” he said.

Cabrera said his role forced him to mature quickly.

“When I started working I was still a young kid that liked to have fun,” he said. “That was the problem. I had too much fun but I guess as I started getting into the role and whatnot, I matured so quickly without really noticing.”

Read more: The labor shortage has come for bank branches, forcing America’s banking giants to rethink how to stay competitive

Cabrera focuses on providing excellent customer service – and demands the same from his staff.

Cabrera said a big part of his job is devoted to keeping customers happy, and he looks forward to every Tuesday when Layne’s offers discounts, as he usually interacts with more guests.

“I really love seeing our parking lot filled with a bunch of cars,” he said.

And he demands the same attitude from his workers: “Every time I bring it up to someone I’m hiring, I let them know: ‘Hey, I care this much about guest service. You need to care this much as well if you’re coming into this job.'”

Two men stand behind the counter at a fast food restaurant smiling at the camera with their arms around each other.
Jason Cabrera, left, is general manager of Layne’s Chicken Fingers restaurant in Allen, Texas. Garrett Reed, right, is CEO of the chain.

He prefers to hire people into their first jobs

Cabrera said that he was “huge on recruitment” and prefers to hire people for whom it’s their first job. This is because it is easier to train them in Laynes’ way of doing things.

“I think it’s a really good thing to get those people in because it’s their first job and you can kind of build them up to be great,” he said.

Indeed, all of his team are aged between 16 and 21 but their relative youth has not led to a drop in Cabrera’s standards, which include providing top-tier service and working with a sense of urgency.

“I make sure when I do my interviews and whatnot, people know that I have high standards,” he said.

Cabrera’s biggest problem is finding enough workers

Cabrera said that, so far, he hasn’t dealt with any major problems in the job, except one – finding enough workers.

He told Insider he expects to lose half of his staff in the next few weeks as they go off to college, and checks hiring service Career Plug on a daily basis.

“I always refresh that page every day. I’m always looking for someone and there’s days I won’t get any. There’s days I’ll get five,” he said.

Read the original article on Business Insider

5 ways ‘Ted Lasso’ shows how effective leadership can be achieved through kindness

Jason Sudeikis portrays as Ted Lasso, sitting on a couch smiling
Jason Sudeikis as Ted Lasso.

  • “Ted Lasso,” a workplace comedy on Apple TV+, is especially relevant for managers and executives.
  • The second season debuted on July 23.
  • The show has dug its way into the hearts of viewers through its funny lessons about kindness.
  • See more stories on Insider’s business page.

To Brendan Hunt, self-confidence is like a ferret.

“Imagine it’s buried under a pile of rubble,” the writer, actor, and cocreator of the Apple TV+ television show “Ted Lasso” told Insider. “And the ferret keeps getting pinned by another rock.”

After a childhood marred by verbal abuse and his mother’s alcoholism, Hunt’s self-esteem was boosted by his acting-school colleagues at Illinois State University. He founded Theater of Ted as a performance opportunity for other students and had a variety of roles in the Illinois Shakespeare Festival.

Now, as one of the creative minds behind the Peabody Award-winning, 20-time Emmy-nominated show, Hunt is paying forward lessons he learned about hardship, pain, and significant losses.

It turns out ferrets are also humorous creatures who love to dig, and “Ted Lasso” has dug its way into the hearts of viewers through its funny lessons about kindness.

At its core, “Ted Lasso,” which began its second season on July 23, is a workplace comedy that’s especially relevant for managers and executives. An American college football coach with absolutely no experience with European football, is purposely hired by the recently divorced owner to manage a struggling Premier League team. The show exceeds the format’s constraints by illustrating the best ways to develop talent, learn from mistakes, and deal with major losses on and off the field.

“New season starts today and I’ll be honest – I’ve got butterflies,” Ted Lasso tweeted. (Yes, Lasso has his own Twitter account.) “But one great fact about butterflies is that they only show up when you care a lot about something. And also they taste with their feet.”

For those who’d like a guide to the first season (with a few spoilers), here’s a breakdown of the five biggest leadership lessons from Ted Lasso (Jason Sudeikis), his assistant Coach Beard (Hunt), and the team owner Rebecca Welton (Hannah Waddingham).

Jason Sudeikis and Hannah Waddingham look at each other with pictures hanging on the wall in the background
Jason Sudeikis and Hannah Waddingham on season one, episode one of “Ted Lasso.”

Learn people’s names

Nathan Shelley (Nick Mohammed) is the team’s often-bullied equipment manager. On Lasso’s first day, he surprises Shelley by asking for his name. This basic act of respect eventually pays off when Shelley demonstrates his knowledge of the game and earns a well-deserved promotion.

An effective leader is attentive, diligent about small details, and respects his subordinates, no matter how junior. Having an interest in people’s names and an understanding of their value to the team also demonstrates curiosity instead of judgment – an act people often remember as a sign of respect and importance.

Give people a chance

In episode three, Lasso uses one of Shelley’s plays. In episode seven, Lasso asks for Shelley’s honest assessment of the players and encourages him to give the pregame pep talk. Keeley Jones (Juno Temple) is initially presented as a stereotypical WAG – the wives and girlfriends of high-profile athletes. But Welton sees how Jones is driven, smart, and savvy after she arranges a branding partnership. Through Welton’s encouragement and support, Jones is given official marketing and communications duties, including brand deals for the players.

Great talent might already lie within your organization. Drawing it out requires giving people, especially those in junior roles, multiple chances to demonstrate their skills, capabilities, and expertise. Encouragement and a psychologically safe environment are also essential. You never know what a person can provide to an organization in the future.

Personal issues can affect work performance

Throughout much of the first season, Welton sets the team up for failure in retaliation for her abusive ex-husband’s infidelity. After hiring Lasso, she arranges unflattering paparazzi photos of him with Jones, sets up an interview with a highly critical reporter, and returns a star player to another team earlier than necessary. After Lasso signs his own divorce papers, he experiences a panic attack outside a karaoke bar. Welton helps him calm down. And when Welton finally reveals her plan, Lasso’s response is simple. “I forgive you. Divorce is hard. … It makes folks do crazy things.”

Significant life events like divorce, major illnesses, and deaths can become major distractions at work and affect performance. An effective way to get staff back on track is honoring their feelings and working together to find a path forward with humility and empathy.

Ted Lasso toasts with another character at a pub
A scene from TV show “Ted Lasso.”

Have a trusted advisor without an ego

The most important person in Lasso’s professional life is Coach Beard, his assistant. Beard travels with Lasso from Kansas, learns the rules of the game on their flight, provides important details and plays, and assertively tells Lasso when his philosophy on winning and losing has reached its limits. Beard does something Hunt learned while working in theater: “serving the piece.” In the end, both his and Lasso’s ideological preferences are secondary to the greater mission. “He’s not doing it for himself,” Hunt said of the character he plays. “He’s doing it for the whole of the job that Ted has brought him on.”

Every company needs advisors and senior leaders who understand what the overall mission is and says what needs to be done, even when it goes against the desires of the person in charge.

Be willing to accept feedback

In addition to advice from Beard, Lasso is willing to accept direct feedback from everyone: his players, people in town, patrons of the local bar, Welton, Shelley, even members of the media. He gets called “wanker” a lot, but it doesn’t faze him. It helps that Lasso responds with humor and a Mr. Rogers-like sense of cheer.

Even if you don’t run a football team, being a good manager means being open to hearing from other people about how to improve and do things differently. Regularly scheduled meetings can be very helpful. (Homemade biscuits – a Ted Lasso specialty – are not required.)

Read the original article on Business Insider

Warren Buffett warned the Bill & Melinda Gates Foundation’s CEO about the ‘ABCs.’ The investor has flagged those threats before

bill gates warren buffett dairy queen
Warren Buffett and Bill Gates.

  • Warren Buffett warned the Bill & Melinda Gates Foundation’s CEO about the “ABCs” last year.
  • The investor sees arrogance, bureaucracy, and complacency as major threats to large organizations.
  • Buffett, who has gifted $33 billion to the foundation, once called the ABCs “corporate cancers.”
  • See more stories on Insider’s business page.

Warren Buffett told the CEO of the Bill & Melinda Gates Foundation that the greatest threats to the philanthropic behemoth were cockiness, red tape, and self-satisfaction. The billionaire investor and Berkshire Hathaway CEO, who has gifted a total of $33 billion to the foundation and resigned as its trustee in June, has warned about those forces in the past.

Mark Suzman took charge of the Gates Foundation early last year, and promptly flew to Buffett’s hometown of Omaha, Nebraska to have lunch with the investor and seek his guidance.

“He told me then that my most important job was to guard against the ‘ABC’ risks of decay that all very large organizations face: arrogance, bureaucracy, and complacency,” Suzman wrote in a recent email to the foundation’s employees.

Buffett pledged in 2006 to donate over 99% of his wealth to the Gates Foundation and four other foundations, and reached the halfway mark towards that goal in June. His advice to Suzman isn’t surprising; he wrote in his 2014 letter to Berkshire shareholders that when he retires, a big part of his replacement’s job will be warding off those exact threats.

“My successor will need one other particular strength: the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency,” Buffett said. “When these corporate cancers metastasize, even the strongest of companies can falter.”

The Berkshire chief went on to highlight General Motors, IBM, Sears Roebuck, and US Steel as examples of corporate titans that once appeared to have unassailable grips on their industries. “The destructive behavior I deplored above eventually led each of them to fall to depths that their CEOs and directors had not long before thought impossible,” he said.

Buffett noted in the letter that he structured his company to minimize red tape. Berkshire’s decentralized web of autonomous subsidiaries, underpinned by a culture of trust, acts as the “ideal antidote to bureaucracy,” he said. Berkshire also saves money and boosts efficiency by not having HR, PR, IR, legal, acquisitions, and other departments in its headquarters, he added.

The investor singled out the “B” in the ABCs again in his 2009 shareholder letter.

“We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly – or not at all – because of a stifling bureaucracy,” Buffett said.

Given Buffett’s clear disdain for the ABCs, it’s no surprise that he told Suzman that his primary focus should be preventing the Gates Foundation from succumbing to them.

Read the original article on Business Insider

3 ways leaders can help ease workplace stress and avoid employee burnout

employees
Employees who feel they can bring their whole selves to work perform the best.

  • Reports of burnout, stress, and loneliness levels are high as employees continue working from home.
  • Improving these conditions and rebuilding psychological safety will require leaders to step up.
  • Show gratitude for your employees, check-in frequently, and build resilience into the workforce.
  • See more stories on Insider’s business page.

The crisis is subsiding, but its wounds run deep. For all the heroic efforts of employees to keep companies operating, the past 16-plus months have left a powerful psychological scar.

A recent Workhuman survey of more than 3,000 US workers reveals a workforce in trouble. The data shows 48% of employees agree they’ve experienced burnout, 61% feel elevated stress levels, and 32% agree that they’ve felt lonely at work.

The emotional toll has been greater for working parents (especially mothers). Observed differences in stress and burnout levels between men and women appear to be related to caregiving responsibilities as well as the disproportionate loss of jobs among women.

Early in the crisis, for example, mothers with young children decreased their work hours four to five times more than fathers. The survey, which asked seven questions related to psychological safety, also discovered that non-White employees experienced lower levels than their White co-workers.

Read more: I manage money for ultra-high net worth clients and experienced burnout early in my career. Here are 4 things I did to recover and improve my quality of life.

The impact of psychological safety

Google’s People Operations team found that the number one driver of successful teams is psychological safety, an environment where people feel safe to take risks and be vulnerable in front of one another.

When people feel safe, they will innovate, cooperate, and show up as their full selves at work, which are critical qualities in today’s agile environment. Conversely, lack of psychological safety in the workforce is corrosive; it endangers all plans to return to the “next normal.”

Rebuilding psychological safety after a crisis requires leaders to speak candidly about the toll employees have suffered, and show the way forward with a more human-centered approach to managing:

1. Say “thank you” more often

“Recognition builds lasting connections between people,” said Workhuman CEO Eric Mosley. “Great leaders instinctively know that the more human connection in a company, the better it performs.”

It’s easy to see why receiving a “thank you” makes an employee feel appreciated. What’s less obvious is that showing appreciation for someone’s efforts improves the positive feelings for the giver as well. Mutual recognition and gratitude help people take off their emotional armor. When employees do that, they feel safer as well as more connected.

2. Check in with employees more frequently

People who check in with their manager at least once a week experience higher psychological safety than those who check in less frequently, and yet only 29% of respondents in the Workhuman survey said they check in with their manager every week.

IBM is taking the lead on changing that statistic, emphasizing more frequent feedback for everyone. CHRO Nickle LaMoreaux, who spoke with Workhuman co-founder and CEO Eric Mosley, cites it as one of IBM’s four priorities, saying, “Feedback is as important as growth, innovation, and inclusivity, because you can’t have those first three elements without feedback.”

3. Build resilience into your culture

While you might not be able to prevent the next crisis from happening, you can take steps now to build resilience into the workforce, enabling people to deal well with external stressors.

For example, psychological safety can become part of your hybrid workplace design as you return to the office. You can consider formalizing appreciation and thank-yous with a data-rich social recognition system. You can strengthen diversity, inclusion, and belonging efforts by helping managers understand and mitigate unconscious biases.

Imagine how much time and resources would be salvaged if your organization moves the needle on psychological safety. If all employees, and especially underrepresented groups, feel more comfortable sharing ideas and bringing their whole selves to contribute, the “next normal” won’t just be a recovery from the crisis but a fresh start. There will never be a better time than now to build psychological safety into your culture.

Read the original article on Business Insider

3 ways managers can support employees living with chronic pain and fatigue

lower back pain sitting office work from home
Managers should focus on ways to make workers with chronic pain more comfortable in the office – or let them work from home.

  • Around one in five adults in the US lives with chronic pain.
  • To better support employees living with chronic pain, meet them with compassion.
  • Accommodations like a standing desk or WFH schedule can improve their experience.
  • See more stories on Insider’s business page.

Around one in five adults in the United States lives with chronic pain, according to research from the Centers for Disease Control and Prevention.

Yet talking about and receiving accommodations for chronic pain and fatigue is still widely considered taboo in the workplace.

I live with the autoimmune disease vasculitis, which is characterized by chronic fatigue and pain. This means when I go to work, either virtually or in person, my symptoms follow me to my job.

Managers can do a lot to improve the experiences of employees like me by taking just a few simple steps – here’s how.

Be approachable and offer accommodations

Supervisors shouldn’t push employees to talk about their chronic pain or fatigue if they don’t want to, but rather make themselves more available should an employee want to open up.

“I think by asking open-ended questions about their chronic pain, managers can signal to their workers that they are open to discussing accommodations,” Rachelle Scott, director of psychiatry at Eden Health, told Insider. “Meeting employees with compassion is really important here. Many of us show up to work with so much that we don’t share with others.”

Scott recommended asking employees if they need to take breaks and encourage them to do so. Supervisors can also ask what types of accommodations would help them avoid triggers for their chronic pain and fatigue.

Other small steps, such as offering options for different types of desks, chairs, or other office equipment, can go a long way.

Vanessa Ford, cofounder of MenoLabs, a company that sells probiotic supplements, told Insider she wasn’t comfortable discussing how her scoliosis and insomnia affected her during the workday when she was younger, but this changed when she moved up the corporate structure.

“I purchased a standing desk and ergonomic chairs so that I could better address my health needs, and I understand that my employees need those same kinds of considerations as well, having suffered from it myself,” she said.

Trust employees to work where they’re most comfortable

Some employees dealing with chronic pain or fatigue may produce better work from home, as having their own space allows them to better manage their symptoms than if they worked in an office.

Make sure remote work isn’t just acceptable but encouraged for members of your team. If you’re hiring, also consider making remote work the default option on job descriptions.

“Throughout the pandemic, remote work has empowered me and others with disabilities,” Jennifer Sanchez, a social-media manager for the Cook County government in Illinois who lives with vascular Ehlers-Danlos syndrome, told Insider. “We were able to work safely, efficiently, and productively while also taking care of our health needs.”

Recognize that not all chronic illnesses are visible

People with invisible disabilities, such as fibromyalgia, may face an additional barrier of dealing with managers who question just how debilitating their illness could be.

Managers shouldn’t question the medical needs of a worker if they’re still able to perform their job. One tip is to focus on output or impact rather than hours worked.

Sara Youngblood Gregory, who lives with arthritis, chronic pain, and injuries from a car accident, told Insider she faced barriers when she needed to go to physical therapy while working as a union organizer.

“I felt my boss gave me an extremely hard time about going to physical therapy, despite the medical necessity and doctor’s note I had,” she said. “My boss was disabled herself. I’m really grateful I could turn to my staff union for support and guidance.”

Read the original article on Business Insider

Warren Buffett and Charlie Munger knocked Robinhood, discussed the Archegos fiasco, and reflected on their friendship in a new interview. Here are the highlights

Warren Buffett speaks in a CNBC interview
Warren Buffett.

  • Warren Buffett and Charlie Munger took part in a CNBC interview that aired on Tuesday night.
  • The billionaire investors criticized Robinhood and Archegos, and reflected on their friendship.
  • Buffett and Munger also discussed remote working and the lessons they took from the pandemic.
  • See more stories on Insider’s business page.

Warren Buffett and Charlie Munger discussed their iconic friendship, how they approach business, and how they built Berkshire Hathaway in “Buffett & Munger: A Wealth of Wisdom,” a CNBC program filmed shortly after the Berkshire annual meeting in May and aired on Tuesday night.

The Berkshire Hathaway chairman and vice-chairman also criticized Robinhood, called for tighter regulations after the Archegos Capital fiasco, discussed the remote-working trend, and shared what they learned from the pandemic.

Buffett, 90, and Munger, 97, met more than 60 years ago. The pair went on to build one of America’s biggest conglomerates, which owns companies such as Geico, See’s Candies, and the BNSF Railway, and holds multibillion-dollar stakes in Apple, American Express, Bank of America, Coca-Cola, Kraft Heinz, and other public companies.

Here are the highlights from the interview:

Archegos

The first clip from Buffett and Munger’s interview focused on the collapse of Archegos Capital earlier this year, and the loose lending standards among banks that allowed it to happen.

Munger singled out Credit Suisse as “the biggest fool of all,” and bemoaned that it took the financial crisis to spur regulators to tighten the rules and clamp down on risky practices last time around.

“Think of how massively stupid that was,” Munger said about Archegos taking on tens of billions of dollars in leverage and blowing itself up. “It was the lure of the really easy money that the idiot was paying you – being the prime broker for a jerk.”

Munger added that the banks should have known better than to lend to Bill Hwang, given the fund manager had pleaded guilty to insider trading in the past. “You can’t make a good deal with a bad person, just forget it,” Buffett said.

“The regulators need to change the laws,” Munger said. “But of course if you’re running a gambling parlor, you want the big players to gamble more furiously.”

“We don’t want to suck people into gambling more than they can afford,” he added.

Buffett chimed in that regulators have a very tough job, as cracking down on the biggest problems involves attacking the financial center of enormous institutions.

Robinhood

The pair also touched on Robinhood, the trading platform that they both slammed at Berkshire’s annual shareholder meeting in May.

Robinhood is a “gambling parlor masquerading as a respectable business,” Munger said. “It’s beneath contempt.”

Buffett added that Robinhood doesn’t push its users to invest in long-term, low-cost index funds. Instead, it encourages them to trade options and take leveraged positions.

“It’s basically a sleazy, disreputable operation,” Munger added.

Friendship

Buffett and Munger recalled meeting one another at a dinner in 1959. Buffett enjoyed the fact that Munger was “rolling on the floor, laughing at his own jokes” like him, while Munger said he loved Buffett’s irreverence and the fact he doesn’t automatically suck up to the “pompous heads of all civilization.”

They also discussed the start of their partnership. “We had fun in the early days because it was like hunting expeditions,” Munger said.

Berkshire

The next part of Buffett and Munger’s interview focused on how they built Berkshire. They reflected on the conglomerate’s earliest holdings, which included Blue Chip Stamps and Berkshire’s original textile mills, and how those businesses ultimately failed as society moved on.

Buffett said that Diversified Retailing, its department-store business, was eventually sold and the proceeds were plowed back into Berkshire. The investor estimated that decision generated about $25 billion in value, based on the increase in Berkshire’s stock price since then.

Buffett also commented on the mishmash of businesses that made up Berkshire in its early days. “It looked like a plate of spaghetti at one time, which was not good,” he said.

Munger said that a key lesson he learned from Berkshire’s early failures: “If it’s clear that something is a mistake, fix it quickly. It doesn’t get better while you wait.”

Role models

Next, the pair discussed their relationships with their fathers. “I never heard my dad say in my life, ‘Be sure you pay all your debts,’ but I just watched how he lived,” Buffett said.

“You want to have certain people in life that you don’t want to disappoint,” he continued. “You want to have people that make you a better person.”

“I was surrounded by high-grade people,” Munger said, highlighting his father, who was a lawyer like him. “I was just forced to imitate the right people.”

Buffett recalled how as a young boy, he often dropped in on four or five housewives on his way home from Sunday mass, as he always enjoyed speaking to people older than him.

The investor emphasized the power of being able to choose the people in his life. “We’ve had that luxury now for 60 years or close to it,” he said. “That beats 25-room houses, and six cars. What really is great is if you can do what you want to do in life, and associate with the people you want to associate with in life.”

Buffett also reflected on his first impression of Munger. “I knew when I met Charlie, after a few minutes in the restaurant, that this guy was gonna be in my life forever.”

“We were gonna have fun together, we were gonna make money together, we were gonna get ideas from each other, we were both gonna both behave better than if we didn’t know each other,” he added.

Remote work

Buffett and Munger also discussed how they adapted to the pandemic. “I’ve fallen in love with Zoom,” Munger said, adding that he uses the video-communication tool at least three times daily. “It just adds so much convenience.”

Meanwhile, Buffett said he’s “not a Zoom guy” and doesn’t see much value in using it. “I find the telephone a very satisfactory instrument,” he said.

Munger also discussed some of the pandemic’s fallout. “A lot of business travel will never come back,” he said, adding that companies will decide to have a couple of in-person meetings a year and use Zoom to conduct the rest of them. Highlighting the slump in office demand, he added that lots of aspects of work could change for good.

The pandemic

Buffett added that a lot remains unknown about the pandemic, and highlighted how uneven and unpredictable the economic impacts have been with smaller businesses struggling and many large corporations thriving.

The Berkshire chief also disclosed that some of his company’s car dealerships wanted to apply for government aid, but Buffett stopped them because they had a “rich parent.” He also underscored the immense danger when droves of people take out loans in a crisis because they’re worried they won’t have access to credit in a week’s time.

“You get enough people believing something won’t be there next week in banking, it won’t be there next week, absent the Federal Reserve,” Buffett said.

The investor added that his most important lesson from the pandemic was that it was bound to occur eventually, and that it wasn’t “the worst one that’s imaginable at all,” he said.

Decentralization

Buffett and Munger emphasized how much they enjoy Berkshire’s decentralized structure, which allows them to delegate responsibility to the managers of its scores of subsidiaries. Munger predicted that the strategy would catch on more widely.

“Just as we found we can eliminate some business travel, we’re gonna find we can get rid of some dumb bureaucracy in American corporations,” he said.

Buffett also balked at the idea of helming a centralized company. “I’d resign or would have been fired,” he said. “I’d rather be in a jail cell with a few people who are interesting, and plenty of reading material.”

Partners for life

The Berkshire chief reserved some heartfelt praise for his partner of six decades.

“It goes well beyond buying a stock and selling it higher,” Buffett said about Munger’s contributions to society. “He’s designed dormitories and helped build them. He’s worked at hospitals to understand how they can be made better and serve more people and do it at less cost.”

“Charlie’s worked on big problems, and he doesn’t need to,” the investor continued. “Charlie has never shaded anything he’s told me since we met, in terms of presenting it to me in a different way than reality, and he’s never done anything I’ve seen that’s self-serving.”

“He makes me better than I would otherwise be,” Buffett added. “I don’t wanna disappoint him.”

Read the original article on Business Insider

GameStop shares jump 12% as the company announces CEO George Sherman will step down in 3 months or sooner

Gamestop

GameStop’s shares rose 12% on Monday after the company announced its chief executive officer George Sherman will step down on July 31 or upon the appointment of a successor.

Shares were already up before the company’s announcement, buoyed by the company’s progress in making major changes led by activist investor Ryan Cohen.

GameStop said a board committee is actively looking to find a suitable replacement for Sherman’s position.

“GameStop appreciates the valuable leadership that George has provided throughout his tenure,” board chairman Ryan Cohen said in a statement. “He took many decisive steps to stabilize the business during challenging times. The company is much stronger today than when he joined. On a personal note, I also want to thank George for forming important partnerships with the new directors and executives who have joined GameStop in recent months.”

Sherman had been with the video-game retailer for less than two years. The company’s management shake-up is part of its wide “transformation” in culture and strategy being overseen by Cohen.

Gamestop was at the heart of a battle-play of “Wall Street versus The Little Guy” in a Reddit-fueled trading frenzy this year. It was hit with a stock downgrade last week by an analyst from Ascendiant Capital, who said its online popularity will have less of a long-term impact on the stock.

Shares ended at $154.49 per share at Friday’s close, but were trading as high as $173.08 on Monday.

Read the original article on Business Insider

GameStop shares jump 6% as the company announces CEO George Sherman will step down in 3 months or sooner

Gamestop

GameStop’s shares rose 6% on Monday as the company announced its chief executive officer George Sherman will step down on July 31 or upon the appointment of a successor.

Shares were already up before the company’s announcement, buoyed by the company’s progress in making major changes led by activist investor Ryan Cohen.

GameStop said a board committee is actively looking to find a suitable replacement for Sherman’s position.

“GameStop appreciates the valuable leadership that George has provided throughout his tenure,” board chairman Ryan Cohen said in a statement. “He took many decisive steps to stabilize the business during challenging times. The company is much stronger today than when he joined. On a personal note, I also want to thank George for forming important partnerships with the new directors and executives who have joined GameStop in recent months.”

Sherman had been with the video-game retailer for less than two years. The company’s management shake-up is part of its wide “transformation” in culture and strategy being overseen by Cohen.

Gamestop was at the heart of a battle-play of “Wall Street versus The Little Guy” in a Reddit-fueled trading frenzy this year. It was hit with a stock downgrade last week by an analyst from Ascendiant Capital, who said its online popularity will have less of a long-term impact on the stock.

Shares ended at $154.49 per share at Friday’s close, but were trading as high as $164.96 in Monday’s pre-market session.

Read the original article on Business Insider

A guide to Asana, the workplace management tool that helps streamline communication across teams

coworkers working on project at desktop computer in office
Asana can help your workplace streamline communication and organize projects.

  • Asana is a workplace management dashboard that helps streamline communication across companies and teams.
  • Asana is customizable, and allows users to break down projects into tasks and set clear goals for teams.
  • Asana also has integration with hundreds of other apps that businesses use, like Google Drive and Outlook.
  • Visit Insider’s Tech Reference library for more stories.

Asana is a customizable workplace content management system (CMS) which is designed to help a wide range of companies achieve their organizational needs. More plainly, it’s an advanced organizational tool to help streamline projects.

Asana is made so that workplaces of any size can analyze their progress and address issues all in one place, eliminating the need for constant meetings, email updates, and memos.

What to know about Asana

Asana has a wide range of features available to help companies and the teams within them find a system to get things done as efficiently as possible. These features include:

Project and task management

Asana’s main feature is its project and task management tools. You can create lists or boards to host certain projects as a whole – these will detail all the initiatives, meetings, and programs involved in said projects.

From there, you can break these projects into tasks and subtasks to make them more manageable, and list the steps to complete them. You can also:

  • Give tasks to specific people so everyone knows who is working on what
  • Group tasks into sections or columns to keep them organized
  • Assign start dates and due dates, which can also include timed deadlines
  • Create reusable templates to make certain tasks easier to start
  • Add task dependencies to specify when some tasks need to be completed before others start
  • View your tasks in a timeline so everyone can see the project chronologically
  • Create rules to automate processes like assigning tasks and triaging
  • Add attachments from a number of integrated software

Communication tools

Of course, one of the most important – and difficult – parts of teamwork is communication. Asana has tools to streamline this as well.

Your Inbox tracks all your messages and their associated tasks. Here you can attach tasks to messages and use project conversations to have ongoing discussions. You can also proof images and PDFs, and any comments can even be turned into tasks so the team knows what corrections need to be made.

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From your Inbox, you can view messages and manage tasks.

Multiple ways to view work

Because Asana is made to adapt to your workforce. As such, it offers several ways to view your projects and tasks:

  • My tasks: A view that gives you a personal to-do list
  • List: View and group your tasks in a grid structure
  • Board: Displays your upcoming tasks in a bulletin board style format
  • Calendar: Shows a list of tasks based on deadlines
  • Files: Groups together all the files uploaded to project
  • Inbox: Groups together all your conversations
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On the “My Tasks” tab, you can group your tasks by List, Board, Calendar, or Files.

There’s also a Search view for those who don’t want to painstakingly organize all their tasks.

Management and reporting tools

If you’re in charge of an organization, Asana’s reporting tools make it easy to keep project updates organized and send update reminders when necessary.

You can use Asana to set “Goals” to keep everyone on the same page, and “Milestones” to reward and encourage hard work.

You can also craft status updates for projects and portfolios to send messages to your team quickly, and check your Dashboard to see the status of all ongoing projects and tasks at once, and identify problem areas if necessary.

Creating Teams lets you group people together to collaborate on projects. The Team page includes an Overview tab to track projects, a Messages tab for group conversations and announcements, and a shared Calendar tab. You can add teammates as followers on tasks not assigned to them, to keep them updated and alert them if there are problems they can help with.

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Your Team page includes a list of members and ongoing projects on the Overview tab, as well as a Messages tab and Calendar tab.

Administrators also have privacy controls – you can add permissions and other privacy controls to limit access to certain work, or even keep some teams that do sensitive work hidden.

Easy app integration

One of the things that makes Asana so easy to use is its app integration. There are a number of apps that work well with Asana, but the most notable are:

  • Dropbox, Google Drive, Box, Office365, OneDrive, and Adobe Creative Cloud for file creation and sharing
  • Slack, Gmail, Outlook, Zoom, Microsoft Teams, and Power BI for communication
  • Harvest, a built-in time tracker tool

How to get Asana

Asana is available in three pre-set, tiered plans: Free, Premium, and Business. You can sign up for any of these packages on Asana’s website.

Asana Basic

This free version includes the following features:

  • Unlimited tasks, projects, messages, file storage, and entries in your activity log
  • List, Board, and Calendar Views
  • Project briefs and overviews
  • Mobile apps for both iOS and Android
  • 100-plus app integrations, including time tracking

Asana Premium

Premium plans are $13.49 per month, billed each month, plus $10.99 per month per user, billed annually.

Asana Premium includes all the features the free version does, plus:

  • Timeline view and Dashboard reporting
  • Advanced search features
  • The ability to create custom fields
  • Unlimited free guests – guests are users who don’t share the company’s email domain.
  • Forms, Rules, and Milestones
  • Admin controls
  • The ability to create private teams and projects

Asana Business

Asana Business is $30.49 per month, plus $24.99 per user per month annually.

Like Premium, it comes with all the features of the plans beneath it, plus the following:

  • Portfolio and Goal reporting
  • Workload view – allows you to see how much of your team’s resources are being used, and on which projects
  • The ability to build and customize rules
  • More customizable forms
  • The ability to request and give approvals on any project or task
  • Proofing for photos – allows you to leave commentary directly on pictures.
  • More advanced integrations with Salesforce, Adobe Creative Cloud, Tableau, and Power BI

Asana Enterprise

Asana Enterprise is designed for businesses with high-security needs and support on call. There is no set price for this plan – Asana recommends that you contact its sales team directly to discuss pricing that will work for your company.

You get all the features listed in the packages above, plus:

  • Extra security features
  • Data export and deletion
  • Advanced user controls
  • Custom branding
  • Priority support from Asana staff

How to get Asana notifications in Slack for your tasks and projectsWhat is Microsoft Teams? Here’s what you need to know about the workplace communication toolWhat is OneDrive? Everything you need to know about Microsoft’s cloud storage serviceWhat is Blackboard Collaborate? How to use Blackboard’s video-conferencing rooms

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3 signs that your manager or boss may be a narcissist

boss employee angry annoyed boss bored unhappy office work jobs
Narcissists can pretend they care about other people, but they’re really only interested in their own gain.

  • Narcissistic people often consider themselves to be the most important person in the room.
  • Managers or bosses who are narcissistic are likely to put their own interests ahead of everyone else.
  • These types of managers often make people feel unsafe to take risks or express themselves openly.
  • See more stories on Insider’s business page.

Relationships at work matter greatly to our well-being, and perhaps no work relationship affects us more strongly than the one we have with our manager. In fact, people who leave their job frequently report that their manager is their most important reason for doing so.

Managers’ narcissistic tendencies are often a key issue that troubles their relationship with their employees. Although narcissists tend to make a good first impression, their true nature unfolds over time and reveals that they care above all about themselves, not about others.

Our recent studies show that narcissistic managers are poorly equipped to develop good, sustainable relationships with others because their selfish behavior and disregard for others erodes what is the basis of all good relationships – trust.

My fellow researchers and I therefore wondered: Could some narcissistic managers develop the ability to camouflage their lack of concern for others and make others trust them by creating the impression that they care?

How do narcissistic managers erode others’ trust in them?

Narcissistic individuals display a range of self-centered characteristics, including selfishness, entitlement, arrogance, and the exploition of people for personal gain. They consider themselves as more important, talented, and attractive than others, but they are also insecure about themselves and have a strong need to be admired. Narcissists thus simultaneously crave other people’s reaffirmation and validation of their inflated self-image, and feel entitled to attention and admiration.

This duality of craving and feeling entitled to admiration leads narcissistic individuals to consider themselves born to be leaders and to feel entitled to leadership positions, positions in which they may be seen and admired.

Unfortunately, we tend to interpret a narcissistic individual’s overconfidence as a signal that they are, in fact, competent and that they would make a good leader. So narcissists’ aspiration for leadership positions combined with the good first impressions that they make can cause them to rise in hierarchies, which results in narcissistic traits being relatively common among managers.

Although narcissistic individuals may make a good impression initially, they can be ill-suited to leadership positions, because effective leadership requires developing collaborative, reciprocal, trusting relationships with others. Instead, as our research consistently finds, narcissistic managers are considered less trustworthy by those who work for them. This is because developing trust requires integrity and caring about others, neither of which come natural to narcissistic individuals.

In fact, narcissistic managers are likely to put their own interests ahead of those of others and may even step on others when doing so is needed to achieve personal gain. Consequently, as our studies confirmed, a narcissistic, untrustworthy manager will make people feel unsafe to take risks, make mistakes, and express themselves openly.

Is it easy to spot a narcissist?

Because the effects of narcissistic leaders are likely to come out and their true nature may be revealed over time, it is tempting to think that we could easily detect a narcissistic manager. If this is the case, we may simply – through selection tests in organizational recruitments, for example – try to detect them and ensure that they’re not selected for leadership positions.

Such efforts certainly hold merit, as narcissistic individuals are typically not shy about admitting that they want to be admired or even that they overlook the interests of others. Indeed, in general, narcissists do not present themselves as agreeable or modest. However, narcissists are not incompetent and they have the capability to learn that they may be even more effective in attaining their selfish goals if they present themselves in a socially acceptable way or, in other words, if they camouflage their lack of care and fly under the radar.

A consistent finding in our studies is that some narcissistic managers engage in techniques to manage the impression that others have of them – they actively seek to behave in ways that makes them appear sincere to others. Moreover, our findings indicate that these impression-management techniques can be successful: employees perceive highly narcissistic managers that try to make themselves appear sincere as more trustworthy than their highly narcissistic counterparts who do not engage in this impression management behaviour and, because of this, their employees feel safer to express themselves openly. In a nutshell, they can fake that they care and be successful in doing so.

What might this fake caring look like?

When someone behaves in a way that seems caring, it can be difficult to tell whether or not they are faking it. Fortunately, there may be some signs. In general, the fact that narcissistic individuals need to learn how to give others the impression that they care, means that they cannot rely on spontaneous behaviour and responses. This means that their seemingly sincere behaviour is likely to appear awkward or scripted. For example:

  • Someone who is truly caring is likely to spontaneously ask you how you are doing, and is likely to be aware of what is going on in your life. In contrast, a person who does not really care is less likely to ask you spontaneously. Instead, it could be that they only ever ask how you are after you have just asked them. It could simply be that your question reminded them to express caring about you in return. Moreover, they may be unlikely to ask follow-up questions after having shown their superficially caring behaviour. After all, they are not truly interested in you.
  • Someone who is truly caring is likely to listen and be more empathic. In contrast, if you find yourself telling a story about your own experience and the experience suddenly appears to be about them, their seemingly empathic response to your story might be only an opportunity for them to tell a story about themselves. Similarly, it is possible that their reaction to your story is not empathic at all, remains superficial, and only sticks to the facts.
  • At the same time, however, if they only let you talk and never share or relate to what you are saying, it may well be that they have made you believe that they are interested in you but that they do not actually care. Someone who is caring and trustworthy is likely to express trust in you as well – for example, by sharing about their own life – because trustworthy people are likely to see relationships as a two-way street.

Most people have a natural inclination to trust others who show signs of caring, so we are vulnerable to the assumption that narcissists have good intentions, especially those narcissists who engage in extra effort to appear sincere. Some awareness of this effect and the ways in which we might recognize fake caring is helpful to protect well-intentioned people from being exploited and manipulated.

Melvyn R.W. Hamstra, assistant professor in leadership and organizational behavior, IÉSEG School of Management

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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