Have you been watching the “Last Dance” — the ESPN doc on Michael Jordan and the Chicago Bulls’ 1997-98 last championship run?
If you lived in Chicago during the 80-90’s, the ONLY acceptable answer to this questions is YES.
If you haven’t, you should— because it has ALL the goods every compelling story should have… drama, heroes, villians, sex, drugs, and comebacks.
I was watching episodes 1&2 and I found myself ugly crying.
WHY???
It was a combination of things… I love watching sports. I love watching my teams. I definitely miss it. My teams have been centered around Chicago & the University of Illinois, which means except for a few precious years of my life, I’ve spent an tragic amount of money on alot of blue and orange gear, and the ROI— not so great. I digress.
But the Bulls— they were a dynasty, just incredible to watch. That whole era of NBA basketball was fun— it was before everything got really slick, people actually watched the All Star game and the Slam Dunk Contest. The Bulls defined that era…
Memories flooded back of my childhood— watching a game in the Standing Room Only section with my dad in the OG Chicago Stadium (yes, against the Pistons), running around the living room celebrating the Championships. I definitely had a poster in my room. There were so many indelible moments…like
If you saw this live, you wouldn’t forget it. The SHOT
“ The Shot” MJ v. Cavs- May 7, 1989
Also… the SHIRT.
If they made this shirt again, I would buy it. 100%
Although I didn’t have the words then, we all knew the team chemistry was something special. Phil Jackson, the zen master, the triangle offense, all of it.
MJ was definitely the star— but everyone had their part to play. When you watch the episodes, you begin to understand how they all impact each others performance. All anchored by this incredible personal drive to be the best at what they do.
IMHO, that Bulls team is the GOAT. The Greatest of all TEAMS.
Inevitably, I start to think of the best team I’ve worked with … and for many reasons, it is the GE Capital Team.
Here is a picture of us back in the day:
From L-R: Keith Sherin (CEO), Margaret Lazo CHRO-Americas, Stacey Hoin (Head of Organization and Talent), ME!, Liz Woody (Executive - Compensation), John Hinshaw (Head of Compensation), Peter Mondani (HR Leader - Risk Management), Kate Ramsden (HR M&A Leader, International)
Again, I’ve worked with so many talented individuals and teams in my life, but this was my personal GOAT (so far!). Let me give you some context on why…
2008-2009: Financial Crisis
2010: Dodd Frank Act
2013: GE Capital, the 7th largest financial institution in the US at the time, designated as non-bank SIFI (systemically important financial institution)— subjecting GE Capital to higher capital, liquidity and additional infrastructure to support.
April 2015: GE Announces GE Capital sell off. “Project Hubble” — intention to shed $200B in assets, effectively selling off GE Capital in pieces.
June 2016: Majority of sell off complete; Financial Stability Oversight Board removes GE Capital SIFI designation.
If you had to describe Corporate Armegeddon— we were in the middle of it.
My job, which had been to help guide the HR components of our regulatory readiness strategy, quickly pivoted to leading the HR efforts on the deal teams.
Except there was a problem, I had never worked on a divestiture before.
All of the sudden, there were 10 at a time. I was selling my friends and colleagues. I would be out of a job eventually. There was panic, tears, and a LOT of swearing.
So now that you know what we were facing, back to the team…
Some had been quietly been brought into the cone of silence weeks before and had been preparing for the announcement.
I learned only two days before it hit the market.
What I was a part of was nothing short of — well, it was just incredible to watch. I wish it were a uplifting as a World Championship, but we saw everyone play their part. We moved fast, and looked at every issue through a couple of fundamental principles.
Focus on employees, maintain calm and operate with total transparency. To transfer as many employees to successor employers as possible. Design and provide world-class outplacement and benefits to those we could not transfer. Delegate and get out of the way. No politics— assess quickly, escalate quickly if necessary.
Take a time out if you needed it.
Tell someone to take a time out if THEY NEEDED IT.
All teams, including our HR team, playing their part.
After the announcement, the inevitable happened and people started transitioning. Some were sold to other Companies. Some were laid off. Some transferred to other GE Businesses. Others stayed on ensure the smooth transition of the service agreements we had in place with Buyers.
It sounds funny, but there is always some kind of commemoration of Project Hubble every year on April 10th. Inevitably, there is a text, an email, a FB post— wishing each other a “Happy Hubbleversary”.
This year marks the 5 years since the disposition of GE Capital. The requisite email Hubbleversary email was sent— but somehow it meant even more given that we’re in a global pandemic. We hit “reply all” to everyone— sharing kind words and wishing each other well. And I was reminded of how special the team was and is.
Everyone in their own right is impressive— hugely successful and I’ve learned a great deal from all of them, collectively and individually. I asked if they would share with me, the greatest lessons they’ve learned over the years. The words they live by. And I want to share them with all of you, in case they help you personally or professionally.
So here it is, from my GOAT to you:
“Everyone makes mistakes, it’s not the mistake that defines you but rather how you handle the mistake. Be accountable, respectful, and act with a sense of urgency to remedy the situation. ”
“Don’t underestimate likeability. It’s not enough to do great work… it’s all about who knows you, what you’re capable of and how well they like you.”
“One of the more inspiring quotes I’ve always clung to is: “think about what your successor would do and then do it.”...
This is particularly true in these days of such broad uncertainty when every decision will be second guessed, but inaction will receive the harsher criticism of all.
So put on a brave face, make the best decision you can with the data at hand, put your plan into action and remain agile. Otherwise your replacement will. ”
“When building a team, the most effective leader will have the self-confidence to hire employees who:
(1) compliment their own strengths,
(2) are diverse in all ways ...backgrounds, experiences, gender, race, age
(3) smarter than they are, and finally, provide the tools and coaching so they can solve any issues/opportunities.”
“One piece of advice I often come back to is, “Follow the bread crumbs”.
Instead of a master plan, or worse – defining your path based on the success of others, just tune in to the opportunities that are right in front of you, and seize them!”
“This quote, attributable to the great O (as in Oprah), resonated with me because it is so true. As I look back on decisions, actions and what motivates me, they have pretty much stemmed from this philosophy…
“Nourish what makes you feel confident, connected and contented. Opportunity will rise to meet you”.
”
My hope is that you have your own GOAT that you can lean on and learn from. Until then, you can lean on mine.
Be well, stay well,
Jean