Quote of the Week

Sep 14, 2009 Published under Economics, Entrepreneurship and Management, Leadership

From Lloyd Blankfein, CEO of Goldman Sachs:

You have to, in your own life, get people to want to work with you and want to help you. The organizational chart, in my opinion, means very little. I need my bosses’ goodwill, but I need the goodwill of my subordinates even more. Because they can make it easy for me to get information. They’ll come to me and say: “Look at this. Do this.” Or they can give it to me begrudgingly, if they’re hostile.

Now why would they be hostile? Why would they be negative? Why would they be slow to give me information? Because they thought I wasn’t good for them. They thought I’d be bad for them.

Life is always about contracts that you make with people. Very few of them are written. Most of them are implicit, and most of them evolve out of a course of dealing and understanding. And if you are good for your people, they’ll be good to you, and help you and help propel you up in your career.

By the way, being good to them doesn’t mean you pay them more or you’re more liberal, or you let them get away with things. Most people, what they want is to be better. They want to work for a great organization. They want to feel good about themselves. They want to not so much get promoted, as be promotable. They want to evolve. And if you’re the kind of person that they think will help them do that, they’ll give you a loyalty that’s the most sincere kind of loyalty.

from NYTimes interview: http://www.nytimes.com/2009/09/13/business/13corner.html?sq=lessons%20learned%20at%20goldman&st=cse&scp=2&pagewanted=print

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