Recently, Google Inc. (NASDAQ:GOOG) surpassed Exxon to be the world’s 2nd most valuable company. While innovation and perseverance can be attributed to part of its success, the other part has to do with the inner workings of the technology leader. Additionally, for almost a decade–Google has become a coveted place to work with their employee shuttles, robust cafeteria and perks such as on-site daycare services. However, they also practice exceptional management skills. As a result, Google (GOOG) has decided to create what they call Project Oxygen. Its goal was to pinpoint the strategies of Google’s most successful managers.
Instead of trying to change the personal characteristics of their managers, Google came up with a way to instruct them using real life examples. For over a year, the Project Oxygen team spent time researching data on management award nominations and employee appraisals. This helped the team come up with over 10,000 examples of exceptional methods of management. From then, the information was quantified and placed into a series of 400 notes using standard behavioral science processes. What they found may seem obvious, but now they have the research to back it up.
For example, one of the main attributes of a good manager is their ability to be a good coach. In addition, they found the most successful leaders empowered their employees instead of micro-managing them, they were productive, results-oriented, helpful with career development and clear on their team strategy. For the most part, the manager must be attached to an employee’s immediate and future success.
To illustrate further, Google’s (GOOG) Project Oxygen team discovered that the most profitable managers showed a keen interest in their employee’s progress within the company. To achieve this, they found that consistent one-on-ones were used; constructive feedback was given, and managers used a question-based leadership style instead of coming across as imposing.
The findings are fascinating and provide a key metric for Google’s overall ascension to its powerful place in today’s business world. Many of their top managers practice these basics daily as they advance to become inspiring leaders. With these types of habits, is it any wonder why Google is such a stock market darling?
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