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Unfulfilled promises - lack of respect or business reality?
After receiving multiple offers from higher paying Fortune 500 and 1000
companies, I decided to roll the dice and join a technology start-up, founded by
a few members of my previous employer.
While I was not a part of the conceptual process in late 2001, I started during
my senior year of college as a co-op, part-time employee to test the waters and
for them to test me. At the time there was just the CEO and COO who worked
full-time. There were two other partners but they both worked other j jobs.
My main incentive for coming on board was I directly reported to the CEO (he was
my former boss, for whom I have great respect), mentoring and grooming by the
CEO and promises of partnership, commensurate with performance (growth and
expansion).
I am sad to report that over two years later, none of the �incentives� are still
in place. The CEO, once part of the team, both in proximity (he has taken to
isolating himself in conference rooms) and attendance (he is often out of the
office and has taken to handing down orders through a newly hired VP). Please
keep in mind we are now a seven man shop.
My question is how do I broach this issue of him alienating his team? At one
time, the CEO and I were very close. Early on, we would take road trips for
customer calls and training, at which time we grew close and I learned a
tremendous amount. The majority of our time together was spent �practicing� for
the call the next day, or learning how to position our products and services.
After about a year, that mentorship quickly dried up, and I am now expected to
run with EVERY sales opportunity, both to new AND existing customers, which can
be very exhausting with little reward. My commission was �adjusted� from 12
months compensation on new accounts, to just six months, after I single-handedly
added over 60 accounts in a year and a half.
I am perfectly fine with losing a friend, I have plenty of friends. What I need
is a business mentor. However, there is NO accountability on his part. If an
opportunity drops to the floor and a fumble is made, he accepts no
responsibility or accountability for the folly.
Maybe these are typical growing pains, but as my first job, at which I gave
almost $30,000 in opportunity cost in the first six months, I feel like I am
being taken for granted and manipulated. If I wanted to be a cog in a wheel, I
could have joined a large company in the first place, for a LOT more money.
While I am certainly not out for just money, this workplace has become mundane
and no fun.
I am at a loss for what to do and am very close to resigning in favor or another
offer. I�ve enclosed a document I assembled to summarize my concerns.
Answer:
Everyone has big dreams at the beginning of a venture. It�s easy to promise
things such as a partnership, ongoing mentoring from the CEO and fat
commissions. And tying those things to �growth and expansion� seems fair and
logical to everyone involved.
The devil is in the details, however, as you are now learning. Unfortunately,
nothing was put in writing, so it was all speculation. How much �growth� and
�expansion� will be enough to warrant those rewards? What amount of new business
would someone have to produce to earn a partnership?
The reality of running a business, day to day, can feel like the morning after�a
lot of headaches and a sobering scramble to manage cash flow, marketing and meet
customer needs. Like most fledgling businesses, I suspect much of the profit has
been plowed back into the business to grow it. And I doubt the owners have much
need for more partners, unless a new partner could provide significant capital
and/or a big new chunk of business or expertise. The vague offer of a
partnership was premature and na�ve on the part of the CEO.
Two of your reasons for joining the company�reporting to the CEO and learning
directly from him�appear to be over. It�s unfortunate that your CEO is less
available, and without knowing the details, it�s difficult to know if he has
become more removed because he is running the business and negotiating deals,
because he is over his head and hiding, or because you have done something to
distance him. In any event, he has chosen to hire a VP who will run the details
of the business. To expect him to mentor you at this stage is probably not
realistic. The VP is your source of training and coaching now. If this is a
dissatisfier for you, I�d suggest that you entertain the other job offers.
The document you attached to your letter comes across as angry. It isn�t clear
if you plan on giving it to the CEO, but I�d advise against it. For example,
some of your comments are too aggressive: �Jack is calling me on your behalf,
very immature and unnecessary. You have my number and open communication with
me, use it.� �Nothing ever seems to be your fault. Where does the buck stop?�
�Setting expectations for accounts that you are not involved in and have no idea
what is going on shows poor judgment.� �If I�m a cog in a wheel, why not be a
cog for 4X the salary and benefits somewhere else?�
Telling him about all the other lucrative job offers you have turned down is not
likely to have the desired affect. He�s likely to suggest that you take one of
the offers, if you feel that betrayed.
Instead, you may want to set up a meeting in which you have an honest,
respectful, heart-to-heart meeting with the CEO. Tell him you miss the good old
days when you both could spend time together. Ask him about the future-- plans
for growth, role of the new VP, and what it would take for you to achieve the
reality of a partnership. Based on that information, your decision will be
clear.
JoanLloyd has a solid track record of excellent results. Her firm,
JoanLloyd
& Associates, specializes in leadership
development, organizational change and teambuilding. This includes executive
coaching, 360-degree feedback processes, customized leadership training,
conflict resolution between teams or individuals,
internal consulting skills training for HR professionals and retreat
facilitation. Clients report results such as: behavior
change in leaders, improved team performance and a more committed
workforce.
JoanLloyd has earned her C.S.P. (certified speaking professional) designation
from the National Speakers Association and speaks to corporate audiences, as
well as trade & professional associations across the country. Reach her at (800)
348-1944, mailto:info@joanlloyd.com, or
www.JoanLloyd.com
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