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April 21, 2010
I Am Honored
I received an email over night from Kristine Boyden in Edelman’s Silicon Valley office, who works with me on our HP client. She sent me the Forbes.com story, reporting that glassdoor.com had recognized me as one of the ten most popular CEOs with their employees. I am both surprised and humbled by the recognition, especially because the thumbs-up is from my colleagues. In fact, I’m the beneficiary of their entrepreneurial zeal and commitment to clients. Here are the principles I have followed as CEO for the past thirteen years.
1) Lead from the Front—Work on clients; I took the Dairy Management Inc. executives today to meet with the Wall Street Journal. I originate new business opportunities and go to the presentations. I try to recruit top people to work at Edelman. I travel 100 days a year to see our teams around the world.
2) Loose Rein—Hire world-class senior people. Give them plenty of latitude to decide on strategy, acquisitions and executive appointments. Hold them accountable for results. Have robust discussions about big issues, not small ones. Avoid pitched battles by seeking a middle ground.
3) Encourage Risk-Taking, Not Risky Behavior—Advance the company by promoting entrepreneurial behavior at all levels of the company. Learn from experiments in the field. But have zero tolerance for any conduct that will undermine the reputation of the firm.
4) Vision—Invest time to stay on top of the key global issues. I attend The World Economic Forum and WSJ’s Eco-nomics events so I can understand where the world and our industry are going.
5) Keep People Informed—When it became clear that the recession of 2008 was going to be a serious reset, I met with our Executive Committee we and agreed on a strategy. We would freeze salaries (except for junior ranks), reduce staff only in units losing money and keep our service levels high. I took a pay cut as did my father. We cancelled our global leadership meeting, non-essential travel and initiatives. All of this was explained to our colleagues, first by me, then by others in management. We provided constant updates throughout the downturn.
6) Reinvest—My father began our tradition of reinvesting every bit of profit into the business. We have built a global network through organic growth and acquisition, without selling or going public while maintaining a conservative balance sheet. We take our acorns and plant new trees.
7) Network—I try to have a breakfast or lunch every day with a reporter, a non-profit leader, a new business prospect or lawyer/banker referral source. This process keeps me sharp and current.
8) Family— I leave work early to see my kid play tennis or basketball because it matters to me (and maybe some days to her). When I informed my wife of the Glassdoor recognition this morning, she said pithily, “Congratulations. Just don’t let it go to your head.” With that she rolled over and went back to sleep. I know my place in the family—respect but not deference.
9) Give Back—I love the time that I spend on non-profit activities, from the Gettysburg National Battlefield Foundation to the Children’s Aid Society. I recently drove a dozen teens from the Children’s Aid Society to a hoops tournament in Hershey, PA (where I even learned the meaning of the word, “shorty,” which is modern parlance for a girlfriend).
10) Know When to Say When—I work 10-11 hours a day. I turn off my Blackberry at 9 pm. I read books. I work out five or six days a week. On weekends, I trundle around my home in Long Island, carrying large bags of mulch for my gardener wife. Workaholic is not in my DNA.
11) Reinvention—From blogging to classical music to yoga to moving our office downtown to Soho (who knew there was a NYC south of 16nd street); change is refreshing.
12) Stay humble. I take the subway around New York City (faster and cheaper). I drive a Ford Taurus Station Wagon. I buy my shoes and shirts on sale after Christmas.
So there you have it. Thanks again for the honor. I intend to prove my colleagues right every day.
Posted by Edelman at April 21, 2010 2:53 PM |
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Comments
Congratulations on the achievement, as it's well-earned. Great words of advice, as I too own(ed) a Ford Taurus Station Wagon; "The White Whale".
Posted by: Roy Morejon at April 21, 2010 4:31 PM
Hi Richard -- A voice from the past, here, but I just had to congratulate you on being named the 8th Best Boss in America! Well done! If you take a look at my Facebook page you'd see quite a few fellow Latinites. It's kind of fun reconnecting with people you haven't seen in way too many decades. Please say hello to Renee for me -- we used to have fun playing tennis. Congratulations again! Best, Jane
Posted by: Jane Freilich Clevenger at April 22, 2010 11:38 AM
You gave concrete advice, instead of abstract talking points, and that is refreshing. It appears you have a wonderful company. Congratulations on the honor.
Posted by: Mark Kinsley at April 23, 2010 8:10 AM
Congratulations twice; for the honor and for explaining your great work philosophy. Inspiring.
Posted by: Philippe at April 23, 2010 1:25 PM
Congratulations on the accomplishment! I follow on Twitter a few of your colleagues and it seems like a great work environment.
Posted by: michael osacky at April 26, 2010 11:18 PM
Congratulations on the accolade, Richard. As an Edelman employee it’s great to hear that our CEO is being recognised in this way and I particularly like the emphasis you place on being humble. In my experience, the importance of remaining humble and approachable cannot be underestimated. Thank you for sharing these tips.
Posted by: Ben Cotton at April 27, 2010 4:54 AM
Richard,
Congratulations and thank you for sharing your personal insights and building blocks for success. As the owner of a small PR agency, your tips were insightful and the values -- a good reminder for how to balance it all.
Posted by: Aimee Miller at May 24, 2010 5:28 PM