What happened when I fired 2500 bank managers?

 

Some years ago I was asked to present a management seminar for a major bank. There were about 2,500 managers in the room.

These managers were, in my opinion, already punch-drunk from management training, so I decided to step things up a little. On purpose, I started talking about management and, predictably, people started falling asleep.

Then, after lunch, I changed tack. I told them I had just come out of a meeting where a very serious decision had been made.

All salaries for managers were being abolished!

From now on, every manager would be subject to a monthly performance appraisal and then be paid according to the value they had added to, or brought into, the bank that month.

 

Surprisingly, they believed me... Read full article