Motley Fool CEO and co-founder Tom Gardner has joined the LinkedIn “Influencer” program. Gardner published his first “Influencer” post, titled “Half Your Employees Hate Their Jobs,” on Wednesday. The post, co-written with Motley Fool columnist Morgan Housel, highlighted three changes organizations should make to improve their workplace cultures.
“Peter Drucker said that culture eats strategy for breakfast,” Gardner wrote. “Get your fork and knife and let’s get to work!”
By joining the “Influencer” program, Gardner enters a community of the world’s most profound and impactful thinkers. Notable LinkedIn “Influencers” include Richard Branson, Arianna Huffington, Bill Gates, and more. Gardner plans to write broadly about investing, general business, and other issues he and Motley Fool employees hold dear.
“We’re thrilled for Tom to become a LinkedIn ‘Influencer,’” Fool spokesperson Adrienne Perryman said. “We have a ton of respect for the community LinkedIn has created, and having Tom as a part of it will certainly help us further our mission of helping the world invest better.”
Matt Trogdon and Tom Gardner own shares of LinkedIn. The Motley Fool recommends LinkedIn. The Motley Fool owns shares of LinkedIn. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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If you’re interested in investing, writing, international studies, web analytics, software development, or retention marketing, we want to learn more about you! Find out more about our specific internship openings and submit your application by January 31, 2014.
Want to learn more? Some of last year’s interns were happy to share their Foolish experience!
The Fool is a fun place to work. We believe that life and work cannot be separated, and rather than balancing, we try to integrate them. We want all Fools to think about how they can add fun to their day and how they can love their work. Everyone is encouraged to take time out of their day to socialize, play, exercise, create, or relax.
It’s important to create friendships within the company. Understanding, and maybe even liking, each other is going to make us a better, more productive, and happier company. We ask about friends in our employee engagement survey twice a year.
The number one way that we encourage fun is to ensure that each Fool is actually in a job they love. It’s fun to take a break but we also want people to love what they do. If you ever talk to our Chief Investing Officer, Andy Cross, you will know that he loves investing and it’s fun for him every single day. The same is true of many Fools. Laura, a member of our business intelligence team, loves data – LOVES IT! I’m serious! Just ask her a question about Excel and her excitement could launch the space shuttle.
It thrills us when someone will describe themselves as an investing nerd or a tech geek or marketing dweeb – all a little self-effacing, sure, but it shows that they have a lot of themselves wrapped up in their jobs and have maybe more fun with it than socially acceptable.
Fun also has a very direct business purpose. It decreases burnout, increases collaboration, and improves employee retention – WIN!
1) Do we hire for this value?
Yes. We try through both our application process and in the interview to learn more about you and see your personality. This one is easily misinterpreted by many candidates (please don’t tell me a beer pong story). We do want to know what makes your eyes light up inside and outside of work. I don’t judge what you do for fun – I just want to see that you don’t take yourself too seriously.
2) Will we fire for this value?
This is the value where I get the most questions on our monthly culture tour. I explain at the beginning of the tour that values are ONLY really values if you will hire and fire for them. Everyone nods as we discuss Collaborative, Innovative, Honest and Competitive. Then we get to FUN! It’s easy for our visitors to see that this is a fun atmosphere and to understand why fun could be a desirable value, but I almost always get a sideways glance and either concerned whisper or snarky comment here – “You fire for fun?” It seems unbelievable in a business context – sure you value honesty like that, but fun? Really?
Yes, really. You don’t need to be the person leading the conga line (that’s my job) – but if you are cancerous to the culture and are making your coworkers miserable, our paths will soon diverge.
3) Can you see and feel this value walking through the office?
Yes, fun is probably the easiest value to see as you walk through the office. We have our game room, massage room, and nap room, but it really lives everywhere. From my desk right now I can see 1) large inflatable pool toys (swan, orca, shark, walrus, turtle) 2) a Nerf gun battle 3) several art pieces created by Fools at a happy hour 4) Five board games 5) wizard’s chess, wands and broomsticks (Firebolt and Nimbus) 6) a dozen jester hats.
The other part is just the feeling. As I’m writing the post I hear laughter coming from the tech team sitting next to me – and yes, they are talking about code. Behind me Lee is laughing about an upcoming event that he’s planning. It’s hard to sit here for more than five minutes without hearing fun. I think fun is reason that we are consistently voted one of Washington DC’s best places to work.
4) Is the value referenced frequently? When was the last time?
It’s certainly referenced through the constant laughter and passion of Fools every day, but the purpose of this question is more systemic. How do we ensure that Fun is constant? One of my favorite Culture Club rules is “If you have to make it mandatory, you have failed to make it compelling.” It’s also frequently used as a tie breaker. When there is a decision to make about anything from strategy to time management the kicker question is frequently “Which one is more fun for you? Do that one!”
Please note that our values are not actually rank-ordered. I call this #4 to help blog readers keep track. See the full list of values at Core Values to Live By.
Recently I’ve noticed a few articles popping up claiming that cool offices and no vacation policy are somehow a myth, a scam, a sneaky way for The Man to keep you down. Here was the first line of one recent article: “Don’t be fooled by the perks at all those Silicon Valley (and Alley) offices — it’s all just part of a subtle plot to control employee behavior.” At The Motley Fool we have one of those cool offices and we chose not to enact a vacation policy 20 years ago, so my first reaction is to mail out some peanut butter to go with the author’s jealousy.
The focus of these negative articles is often on the game table, the casual dress, or the non-policy. Those are the outcome of what a cool office is actually about – trust and autonomy. None of the fun of a cool office can be provided without the right culture around it.
At The Fool we put a lot of time and energy in to recruiting the best employees. We are quite picky, we take our time with the hiring process, and we dislike increasing the employee headcount without good reason. When new hires arrive, we trust them to do what they were hired to do. We find that when we get out of the way, people choose their own path and create their own way of getting their work done. They tell us how they like to work and what they need. The fun toys, the desks on wheels, and the flexible hours are all what employees have asked us for. We aren’t scheming to invent ways to control employees, we’re giving them what they want to work effectively and be happy. If your study is finding that people at a company are taking fewer vacations or working longer hours, it isn’t because of the policy. The reason is you haven’t built a culture of trust.
I am reminded of a great line I once heard from Libby Sartain, former Southwest Culture guru, “Every Office has a culture. Every culture isn’t for everyone. Find the culture that fits you.”
At The Motley Fool, we know who we are, we work hard to find people that will add to our culture, and we look for every opportunity to support our team members. We do this because it works. It shows up in all our numbers no matter how you slice them. For instance, we have the highest employee engagement score by far that I’ve ever seen using the Gallup methodology.
We aren’t The Man plotting to keep our team down and take advantage of them. We are Fools working for our employees and doing everything we can to unleash them to do their best work how they’d like to do it.
The term innovation drums up images of world-changing ideas or inventions. Certainly we at The Fool want to change the world, but innovation is more about making everything better every day and embracing change. It’s constantly searching for ways to “Top It!”
We want Fools to relentlessly search for better solutions and try new things. Fools should make small, thoughtful changes and double down on the winner and learn from the losers. One of our favorite books is Little Bets by Peter Sims. It reinforces our “test and learn” mentality, and I highly recommend it.
Big innovation comes in big steps and small steps, and we always want to be walking forward.
Even our vocabulary and cultural habits embrace and push an innovative spirit. I hear these phrases almost every day: “test and learn,” “fail fast,” “try stuff,” “top it,” ”small bet,” “minimum viable product.” I have heard or said each of these terms in the past 48 hours.
We want Fools to be bold and, most of all, to focus on solving the real problems. “Top It!” is a phrase that is a constant reminder to build a better solution. It’s easy to criticize an idea and lose sight of the problem you are trying to solve. In an instant any Fool can reframe the conversation with that two-word term – TOP IT – and we are back on track to focus on the problem we’re trying to solve.
Here are my honest answers to questions I referenced in my first post about core values:
1) Do we hire for this value?
Yes. We are looking for people that want to make those small bets and top it with us. In an interview we want to hear about a time that you saw a problem and just made it better. We want to hear your ideas for our company or the job you seek. You don’t have to have solved world hunger, but show us that you like to test and learn and are open to change.
2) Will we fire for this value?
I credit Zappos CEO, Tony Hsieh with putting this question in my head and pushing the idea that core values are ONLY real if they actually drive action in your organization. You demonstrate their importance if you are willing to take action to increase their presence and also to eliminate blockers to their success. If an employee is a blocker to innovation and change, it just doesn’t work.
3) Can you see and feel this value walking through the office?
Yes. We are constantly innovating in our physical space, too. If you come to our Intergalactic HQ in Alexandria, VA for a culture tour you’ll see that our 5th floor is completely mobile. All of our desks are on wheels and if you come two months in a row it will look different the second time. Things change pretty quickly around here.
4) Is the value referenced frequently? When was the last time?
I actually received an email from our Chief Performance Officer while I was writing this blog post. It’s important to note that innovation as a core value is for everyone. It’s not something that is expected of just the marketing, investing, product, or culture team. Everyone is expected to innovate within their role and top it. This is note was about our bonus payouts and innovation in accounting and employee ownership:
“I’d like to tell you about an experimental opportunity for your bonus payout that’s new this year. Like everything at The Fool, seeking innovation is a constant in our culture. Heck, it’s a core value. And, for the first time ever, we’re putting the power of choice in your hands in an innovative way…”
Also pretty cool that we’re encouraging employee ownership – I think.
Now – I encourage you to TOP IT! How do you drive innovation in your company? Give me some ideas in the comments.
Wow! You actually opened a post with the title “core values?” I’m a little surprised. Many people look at “core values” and roll their eyes. After all, most companies have them and they are generally very nice, very aspirational…and very stale.
You can imagine that they were created by a strange consultant with trendy glasses, who smelled like Mountain Dew and Altoids, who came to the office and spent a day in a conference room – or maybe a result of that executive retreat a few years ago where we all heard Alex got a little tipsy and crashed the golf cart.
But, so what? What do they really mean when push comes to shove? How do you use them?
At their worst, Core Values are corporate jargon and a company joke – Enron, after all, had values of respect, integrity, communication, and excellence.
But used in the right way, they can be amazing – dare I say magical! They can allow a company to develop a culture that exists without a lot of oversight.
At The Fool we really do try to live our core values every single day. And they’re a little different than your typical corporate buzz words. Here they are – created by a broad section of Fools from several departments and tenures.
You can see them on the wall as soon as you walk through the front door on our culture tour. But they don’t live there – they live in our culture and in each Fool’s daily actions.
- Collaborative – Do great things together.
- Innovative – Search for a better solution. Then top it!
- Fun – Revel in your work.
- Honest – Make us proud.
- Competitive – Play fair, play hard, play to win.
- Motley – Make Foolishness your own. Share your core value _____________.
Okay, great – but how do you know you are living them? What about the pushing and shoving I mentioned earlier? For me it’s about these four questions, and I ask myself these questions frequently for each value:
- Do we hire for this value?
- Will we fire for this value?
- Can you see and feel this value walking through the office?
- Is the value referenced frequently? Really? When was the last time?
In the next couple of posts I’ll answer these questions for each value to give you a greater sense of what they mean and how they simultaneously drive and reflect the culture of The Fool.
Last week, The Fool held a company-wide financial health day. Fools had the opportunity to attend classes on subjects like retirement planning and negotiating, and could meet one-on-one with our in-house financial planner, Robert Brokamp.
Robert blogs for Get Rich Slowly, and wrote a post about how your company can encourage employees to take a day to iron out their finances (or how you can set aside a day for this on your own). Check it out here!
By setting aside just a few hours to set up automatic payments, plan for emergencies, create a budget, and start saving for retirement, you can rest easy knowing your finances are taken care of!
At The Fool we have a “take what you need” vacation policy. When we need a sick day, an extra day to get over jet lag, or to travel on off-peak days, no one in HR is counting our vacation time as long as we get our job done. And that line blurs even more as we get more tethered to our iThings. It’s not unusual for a Fool to check email in airports and take calls from home.
So how much vacation do you actually need? Most Fools take between three and four weeks. Some years Fools take more, some years we take less. Here’s the flip side: In a job where vacation time is limited, employees often feel like they need to optimize their free time and use all the time they’re allotted. Where vacation time is “free” it’s hard to tell if it’s ever okay to take any. Some Fools don’t really take much at all, and because we are all so connected we often forget to take a break.
To counteract some Fools’ tendencies to never take a vacation, we implemented a unique benefit called “The Fool’s Errand,” a monthly randomized drawing where the winner gets two consecutive, paid, no-contact-with-work weeks off. And it has to be taken within the month. So you’ve got two weeks to plan a two-week vacation and get all your ducks in a row before you leave.
Besides being a great surprise for one Fool each month, there’s also specific business purpose to the Fool’s Errand: It’s a great way to test our sustainability in a fun way. Typically an unplanned absence is a result of something unpleasant like illness, and only then the team learns where the single points of failure are. This way Fools can get a much needed and enjoyable break, while we as a company can make sure everyone is cross-trained in the event someone on our team needs to take time off unexpectedly.
What is your company’s policy on vacation? How do they encourage (or discourage) employees to take vacations and breaks?
Kara Chambers wrote this post before embarking on her very own Fool’s Errand! Her colleagues and her dog miss her very much but we all hope she has fun.
When you’re an adult, you get to do awesome things, like occasionally eating ice cream for dinner. But with that freedom comes responsibility – paying taxes, taking out the trash, and saving for retirement. And you should save for retirement! Every ten years you wait to start can cut your potential future nest egg by half.
Like many companies, the Fool offers a 401(k) program to its employees. What’s a 401(k)? It’s an investment account that allows you to contribute to your retirement directly from your paycheck before taxes are taken out. You pay taxes once you begin taking that money out of the account after you retire. Many companies (the Fool included) will match your contributions – if you set aside a certain percentage of your salary for your retirement, your employer will kick in a matching amount. It’s free money!
So why would people choose to miss out on the employer match? Some just aren’t able to save at that moment, some never get around to filling out the paperwork, and some are so confused by 401(k)s that they put off getting started. Many companies try to counteract the confusion with thick information packets and boring annual informational meetings, but the Fool refuses to make anything boring.
Enter Robert Brokamp: Rule Your Retirement advisor, personal finance expert, and wearer of amusing Halloween costumes. Bro (as we affectionately call him) teaches a monthly 401(k) class for new employees, funny-ing up his presentation with photos from Awkward Family Photos. Thanks to our investing-minded culture, 87% of Fools contribute to a 401(k) (compared to 77% of eligible workers in the U.S.). Bro aims to increase that number of Fools and non-Fools alike by making saving for retirement simple and accessible.
What are some things your company does to teach employees about their 401(k) options?