May 3, 2024

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 entitled, “DECIDE THAT YOU CAN.”

 

At the 1952 Helsinki Olympics, Great Britain’s Roger Bannister finished the 1,500 meters in fourth place. He determined then that he wanted to be the first person in history to run a mile in less than four minutes.

Why was that a big deal? Because it never had been done. In fact, people thought it was impossible.

But Roger set his goal, created a practice schedule (while training as a doctor), and in 1954 ran the mile in 3 minutes, 59.4 seconds. Bannister had achieved the unthinkable.

After Bannister broke the 4-minute mark, others broke it. Since 1954, more than 1,500 runners have broken the 4-minute mile; the record today is 3:43.13, held by Hicham El Guerrouj.

So many times, we decide that things cannot be done. It becomes a self-fulfilling prophecy. If we don’t believe we can do something different, we want to be right, so we have a mindset that ensures something different is never done. Bannister was told he couldn’t run a mile in less than 4 minutes. He could have accepted it, but he didn’t.

His mindset was such that he determined he could, so he did. And we can do the same. Read more.

RICHARDSON: Ridiculous expectations for job candidates (The Free Lance-Star)

RICHARDSON: Care enough to coach (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, “CARE ENOUGH TO COACH.”

 

I once had a colleague who provided me with opportunities to be a coach. As a manager, he had a good heart and gave me every indication that he wanted to be a good manager. But there were many times he did things that ultimately gave me the opportunity to care enough about him to correct his behavior.

Did you catch that? I cared enough about him to have tough conversations with him. Eventually, he said that to me. He shared that he had told his wife about one of our recent conversations, and his wife remarked, “She must care a lot about you to keep sharing ways that you can get better.”

Have you either thought about corrective actions as caring? Most of us do not. Read more.

 

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.