September 25, 2020

RICHARDSON: Always be ready for your next job (The Free Lance-Star)

RICHARDSON: The best way to handle salary increases (The Free Lance-Star)

Richardson Column in The Free Lance-Star

UMW College of Business Dean Lynne Richardson

UMW College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star is titled “The Best Way to Handle Salary Increases.”

During my first eight years in the workplace, I received an annual salary increase. While that was terrific, my raise percentage was the same as every other person in the business school. A new dean arrived and changed the model. In the following five years at that same business school, raises were given each year, but the percentages varied based on performance.

Some organizations today follow the ‘across-the-board’ increase model. For example, there are large firms that hire many college graduates every summer at the same salary (and the only variances across the country are due to cost of living considerations). So perhaps they hire everyone in the Atlanta office at a salary of $50,000. All new hires are trained and do, more or less, the same job. After a year, everyone gets the same pay increase. Performance has nothing to do with how the raises are determined. Some firms have used this model for years. Read more.

RICHARDSON: Stand up when it’s the right thing to do (The Free Lance-Star)

RICHARDSON:Transition to retirement (The Free Lance-Star)

Richardson Column in The Free Lance-Star

UMW College of Business Dean Lynne Richardson

UMW College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star focuses on the “Transition to Retirement.”

Most of us think of retirement as something to look forward to when we’re in our 60s. That’s when the majority of workers will retire. But it’s not the only time. Increasingly, people are having to wait until their 70s to retire because they didn’t plan early enough for retirement to save the money necessary to live without a job. But others are retiring in their 20s or 30s. What?

I read an article recently about a professional athlete whose career was over in his early 30s. While most of us think only about the financial implications of retirement, there are many others. He had made enough money to live comfortably without working for the rest of his life. What he realized, however, is that whether you’re 35 or 65 when you retire, there are many things to think about. Read more.

RICHARDSON: My recommendation is honesty (The Free Lance-Star)

RICHARDSON: The Art of Decision Making (The Free Lance Star)

Richardson Column in The Free Lance-Star

UMW College of Business Dean Lynne Richardson

UMW College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson’s weekly column in The Free Lance-Star discusses TREATING PEOPLE WITH RESPECT.

 

Once upon a time, there was an organization. This organization welcomed a new head person. This person had come from a similar organization where he had years of experience as the head guy.

Months into the new person’s tenure, a beloved manager was visited by the new boss—she was not doing things as he expected. Even though she was an expert, he wanted to tell her how to do her job. She pushed back a bit. At the next staff meeting, with all of the managers in attendance, he demeaned her in front of her peers.

Appropriately, she went to him privately after the meeting and expressed her distress at being berated in front of her colleagues. He was dismissive of her remarks. She soon resigned.

People in the company took sides. There were those who thought he was well within his rights to have both told her what to do and, when she wasn’t willing to roll over, talk about her to her colleagues. Others were appalled at his behavior. Certainly, they agreed, he could express his desires about how she did her job, but they could not believe he made derogatory remarks about her in front of her peers.

Many in the latter group went to the employee who resigned and asked her to reconsider. She would not. A schism formed within the organization.

What went wrong? Read more.

RICHARDSON: Treating people with respect (The Free Lance-Star)