INSIGHTs & INTUITION

What is a book on leadership that you recommend for other business professionals and why?

I recently finished Bob Iger’s The Ride of a Lifetime. This book should be in every executive’s library because it will inspire you to be a better leader and a better person. The book conveys the cross-section of strategy, humility, hard work, trust, achieving goals, accountability, board relationships, friendships, fairness and how integrity drives the success of leaders and organizations. The level of integrity that Bob has demonstrated over his career in aligning decisions with strategy is remarkable.

He accomplished incredible growth at Disney because of the honesty, respect and integrity he was known for. Managing crisis, leading with compassion, learning from mistakes, expecting greatness from his team and the importance of candor are also part of what made Bob an extraordinary leader. He established his pillars and stayed true to them to achieve great things at Disney.

Staci Malikowksi Chief Financial Officer Arvig Perham, Minn.

Bob was able to acquire Marvell, Pixar, Star Wars and Fox Network not by being the high bidder, but by being the steward who would care for the legacy the sellers were looking for.

This book also provided insights into the personalities of other great businessmen, including Michael Eisner, Steve Jobs, Roone Arledge and others through Bob’s interactions and relationships with each.

I’d say that anyone who wants to lead and run an effective organization would benefit from reading The Servant as Leader by Robert Greenleaf. It’s a quick read, but it distills what is most important to building a great team in a short essay. Essentially, it takes the idea that a good leader (or person, honestly) takes care of the people around them before they take care of themselves. This builds trust, which is central to a healthy, successful team.

IBI is a family business with an average tenure among employees of 13 years, which is four times the industry standard. I think that stems from many factors, but most importantly that we treat our team like they are family. The golden rule is central to everything we do and we’d never ask someone to do something that we wouldn’t do ourselves. To piggyback off of that, my dad who is our president, has taught me that in a family business you can never say “that’s not my job.” … If something needs to happen, you can’t be shy to take care of it. Greenleaf’s essay is a short but powerful read that sends that message home; to build trust and credibility, think of others before yourself.

Brittany Diederich Director of Finance and Administration Industrial Builders, Inc. West Fargo, N.D.

Journey to the Emerald City: Achieve a Competitive Edge by Creating a Culture of Accountability by Roger Conners and Tom Smith, focuses on how business leaders can create a positive culture within their company that can lead to successes on all levels.

I recommend this book to business leaders who want to do more than just talk about change, but rather lead by example in a way that supports their beliefs. Through exercises and self-reflection, the authors provide guidance on how to make positive changes in the workplace and empower their employees. While changing culture in the workplace won’t happen overnight, the authors say positive change can be accelerated by working closely with employees and taking their feedback seriously.

As a 20-year employee of 3M, and manager of the company’s Aberdeen plant since February, this book is a valuable resource for me and my leadership team as we work to maintain a positive culture in our plant. Its lessons also align with 3M’s wider effort to help every employee achieve success and sustainable results in their work.

Andy Rehder Plant Manager 3M Aberdeen, S.D.

Dustin Hillebrand Workforce Center Manager Job Service

North Dakota Grand Forks, N.D.

We are always looking for the next best thing. It could be the next driver to hit the ball farther on the golf course; the new phone or that new app to make you that much more organized; a new employee to bring new life into the office; or a new sales technique to increase sales. Acres of Diamonds by Russell H. Conwell is about looking close to home to see the diamonds hiding in plain sight. A new drive is fun to look at, but practicing your swing will add yards and control. Providing better service to your current customers will make more loyal customers bring more sales and better leads. I can almost guarantee that you have current employees looking for a chance to step up and are full of great ideas to help the office. In the book, Conwell talks about a farmer from Pennsylvania who studied the oil business after his cousin in Canada said he wouldn’t hire the farmer because he didn’t know anything about the oil business. After he learned about the oil business, was hired by his cousin, the farmer sold his farm for $833. Little did he know he had been accidentally damming up over a million dollars of the same stuff he was working to help his cousin find.

So look close to home to see what kinds of riches you have right here before searching the globe for the next great thing, person, or idea.

12-MONTH PERCENT CHANGE IN REAL AVERAGE HOURLY AND WEEKLY EARNINGS

PRIVATE SECTOR EMPLOYEES, SEASONALLY ADJUSTED

All employees, average hourly earnings

All employees, average weekly earnings

Production and nonsupervisory employees, average hourly earnings

Production and nonsupervisory employees, average weekly earnings

Shaded area represents a recession as determined by the National Bureau of Economic Research.

Source: U.S. Bureau of Labor Statistics

People Marginally Attached To The Labor Force

NOT SEASONALLY ADJUSTED, NOVEMBER 2009 TO 2019

Discouraged workers

Other people marginally attached to the labor force

Source: U.S. Bureau of Labor Statistics

U NEMPLOYMENT RATE, SEASONALLY ADJUSTED

Source: U.S. Bureau of Labor Statistics

L Abor Force Participation Rate

Source: U.S. Bureau of Labor Statistics | fred.stlouisfed.org

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