Stuart Levine, former CEO of the Dale Carnegie Institute and now president and CEO of the company bearing his own name, came to Dominican College”™s Palisades Institute breakfast at Rockland Country Club April 17 to talk about managing business and personal life in the fast lane.
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Articulate and to the point, Levine gave business leaders and elected officials tips for managing work-life balance, particularly at a time when the economy is “probably at the worst we”™ve ever seen it.” The best and most-effective way to get the job done, says Levine, is to stick to core values, integrity and “cut to the chase” rather than letting conversations and untenable situations go on ad infinitum.
Levine, who worked in the Nelson Rockefeller administration as a state assemblyman, said he was a bit started by the call he received when Eliot Spitzer resigned in 2008. “David Paterson wanted me to come up and collect data to help in the transition of the new administration. I told them straight out that I needed access to senior staff without having to report back to him.” Not expecting a call back, Levine was pleasantly surprised to be summoned to Albany, where he was assigned Room 256, former first lady Silda Spitzer”™s office.
“There was a sense of abandonment when we arrived, which was rather sad, the kind you experience when there is a breakdown in common sense ethics and values,” he says.
Levine was working in confidence for Paterson”™s administration. When he got a call from a Manhattan media outlet requesting comment, “I couldn”™t give one, so I was blasted. Sticking to core values and integrity can be challenging.”
That”™s the only way he wants to do business, says Levine. He encouraged his audience to focus on its company “dashboard,” paying particular attention to the turnover rate in their business. Companies spend a lot of time training and investing in employees, said Levine. “If they have a high turnover rate, it”™s an indication there is something that needs to be done to tighten the bond between employers and employee, even if the recession is making business difficult to conduct.”
Levine advises business CEOs to shed “toxic people … they distract us and steal our energy.” Rather, employers need to share with their workers exactly what is going on, ask for suggestions, keep an open mind and open door, but don”™t let toxic employees or higher-level management bring you down. “It”™s best to know what you want to achieve before you start,” he says. Trying to work things out as you go along only makes the situation that much harder to deal with … you can lost in the details. “Defining the purpose of meetings, projects and conversations before they take place will not only keep you on target, it will also make you more agile when handling bumps in the road.”
The worldwide recession has taken its toll on the nation”™s GDP and right now, says Levine, “The gross domestic product is driven 73 percent by consumer spending. Government needs to restore confidence. Yes, people are losing their jobs and are avoiding making purchases, because they aren”™t sure they are going to have a job tomorrow. They wonder if they will be next.” The way for employees to avoid that scenario, says Levine, is to become invaluable to the employer.
Levine has his own forecast for what business can expect in 2009-2010: “First, we have to acknowledge there is a deep anger and frustration, and that is going to continue. Homes will continue to decline in value and unemployment is forecast to be at 9 percent by the end of the year, but that figure does not include the people who are now underemployed. The number is actually probably closer to 12 (percent) to 13 percent unemployment. Profit margins are also expected to fall to around 6.5 percent this year. Levine says he doesn”™t believe the DOW is properly priced, predicting it will fall under 7,000 by the year”™s end.
For employers, they need to communicate what”™s going on with the company and bring their employees into the loop, giving praise when praise is due. That”™s where Levine”™s “dashboard” theory comes into play. “The more information you have that things are working the way they should be, the better informed the employer and the employees are,” he reasons. “Sharing that with your team brings them closer together.”
Levine also believes there is reason to study the Darwinian theory of the survival of the fittest. “The fittest win at the expense of rivals because they adapt themselves to their environment. These are the same traits that will help you win” in the current economic culture. He also warned both mangers and the managed that, “to be a superstar, you need to stop being a star. Read the impact you have on others. Stay focused with your team to give the people who are your customers a great product. You need to become your customers”™ apostle. If you can”™t develop that, you will lose customer satisfaction. And monitor your success through the dashboard.”
Levine”™s four cardinal rules in business and personal life? “Avoid toxic people; treat others with respect; and deliver on promises.” The last, and probably most important, it “taking time for yourself each day, even if it is only five minutes doing something totally for yourself, even if it is to put your head back and relax.”
For Levine, even though he”™s appeared on television promoting his self-help books for management, he tries to avoid watching broadcast news. “I”™d rather read the paper, kiss my wife goodbye and head out the door,” said the former Dale Carnegie CEO. “By the time you watch the talking heads for a half hour, it”™s hard to think straight.”
