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Finally, as you review a manager, should you be judging his performance or the performance of the group under his supervision? You should be doing both. Ultimately what you are after is the performance of the group, but the manager is there to add value in some way. You need to determine what that is. You must ask: Is he doing anything with his group? Is he hiring new people? Is he training the people he has, and doing other things that are likely to improve the output of the team in the future?
High Output Management
Andrew S. Grove
An elegant illustration of the issue arose when we presented our findings to the senior managers of an asset management firm, prompting them to run their own exploratory noise audit. They asked forty-two experienced investors in the firm to estimate the fair value of a stock (the price at which the investors would be indifferent to buying or selling). The investors based their analysis on a one-page description of the business; the data included simplified profit and loss, balance sheet, and cash flow statements for the past three years and projections for the next two. Median noise, measured in the same way as in the insurance company, was 41%. Such large differences among investors in the same firm, using the same valuation methods, cannot be good news.
Noise
Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein
From this episode, Twain extracts a key motivational principle, namely “that Work consists of whatever a body is OBLIGED to do, and that Play consists of whatever a body is not obliged to do.”
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