That's NOT the way to do it!

Well, I never thought that I would write a blog article and then see something that only serves to reinforce my beliefs that very evening.

So, last night I sat down to watch the final episode of Million Dollar Traders (iplayer link) as I've found it a fascinating experiment. I always, somewhere in the darker parts of my soul quite fancied working in the city. Even going so far as reading Geraint Anderson's book City Boy which was worrying enough.

However, watching last night's episode I'm pretty certain I could never step through the doors of a trading room. 

If it proved anything, its the age old adage that just because someone is great at what they do, they don't automatically make a good manager of others doing it.

In about a 10 minute segment we saw a catalogue of some of the worst management and decision making I have ever seen. 

Letting someone go from a company is one of the worst things you ever have to do as a manager or business owner. But there are ways of doing it that lets everyone keep their dignity intact.

That doesn't include:

Playing with your blackberry whilst discussing someone's future with them

Not looking them in the eye

Telling them you don't care what they think

Firing them and letting them back into the office where everyone can see them upset

And many many more. (Hats off to Century Films for capturing all of that)

I was left open mouthed that this kind of thing went on. Particularly with Cleo, they seemed like a couple of schoolboys who didn't know where to look.

Don't get me wrong, no business can carry an underperforming member of staff. It's not fair on other people who work with them, it's not fair on the company - or on yourself, as you are tasked with making a profit.

However, you also have a duty to give them the help and encouragement they need to give it their best shot. Only then can you turn round and let them go. This doesn't mean going out of your way to give them extra support over and above your other members of staff - that just breeds resentment. 

It means sitting down with them and trying to get to the bottom of what is causing a block to their performing well, and whilst it's rarely possible in a small company, thinking about moving them towards a role that focuses more on their skills.

What you certainly don't do is take away/diminish their job role!

In an effort to buck up Cleo, Lex, the Hedge Fund owner, cut her capital she had to invest, in half. In one fell swoop he had someone who resents him, the company, and who therefore is set up to fail, but whilst doing it, will also make everyone else uncomfortable.

Firm but fair is the only way to go, not just from the selfish viewpoint of avoiding legal proceedings being brought against your company!

Management style, particularly in the creative industries is something akin to walking a tightrope. We work in an industry with thousands clamoring to get in, where competition for jobs is fierce, but at the same time the pay is not that high (certainly compared to the city).

 At the same time, the hours are long, and the stress levels are large. People put up with this because there are few industries where you can sit down and see a direct result of your work, and know that millions are hopefully enjoying it too.

So clearly people aren't in it for the money - they want to be valued. 

Being valued doesn't mean pandering to every demand, or not being a strict leader, but it does mean that the way your company treats its staff speaks volumes about how it feels about them. 

Sometimes, thats just remembering to say thank you and take an interest in what everyone does. Not putting up with senior members of staff shouting at junior ones. Explaining the logic behind each decision.

Above all - trying to make it fun. We spend more of our lives at work than anywhere else - so why can't it be fun? 

Sitting typing in 5000 lines of data will never be that, but the environment around you can at least make up for it.

Right, I'm off to go and short Barclays.

David