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  Truth 11. Thrifty Executives Keep Goodwill Accounts Full

In the 1950s, American supermarkets created loyalty plans involving the award of green stamps with each purchase. You pasted these stamps into special books, redeeming them later for prizes. Even after the stamp system was replaced, people would joke about “gaining” and “using up green stamps” in interpersonal relationships. You gained stamps by supporting people or giving them what they need and used them up when you behaved badly towards them or asked for special favors.

Such transactions go on all the time in the workplace. Savings methods have evolved however, and today we’re more likely to refer to goodwill bank accounts when describing relationships. Accounts with colleagues are healthy when they are happy with the way that you treat them, and gradually empty as you strain or test a relationship. Wise executives keep their accounts in the black, not just with peers and bosses, but with assistants too. These people often go unnoticed and un-thanked, but can make all the difference when you need something to happen. Goodwill accounts are not, however, “quid pro quo” - something for something - but long-term investments. The deposits you invest can make all the difference for you in the future.

You create deposits in goodwill accounts every day by showing real interest in others’ contributions. This means listening to them, asking questions, supporting them and honoring their actions, even with a simple “thank you.” Since information is an important commodity at work, you can fill up your goodwill account with someone, including a subordinate, by keeping him or her “in the know” about people and events. You can even deposit goodwill by asking for guidance from someone who enjoys giving it. Socializing - spending time with good food and drink - is also often an easy way to generate goodwill savings.

Some deposits are bigger than others. Their size depends on the worth of what you do in the other person’s eyes. Large ones come from giving a colleague a “heads up” that keeps him or her out of trouble, or from opening the right doors to give someone access to an important person inside or outside the company. Taking the responsibility for something you didn’t do, saving someone else from blame, may even earn you enough goodwill to secure a promotion or plum assignment. Although think of the disciplinary consequences before you do this!

Conversely, you make withdrawals from goodwill accounts when you request favors, information, support or extra funding or time on projects. Once again, the size of the withdrawal is consistent with how much the issue matters to the other person or people. Making someone look bad in front of others can result in a very large withdrawal. For some people, any questioning or push back is an immediate withdrawal. For others these are a routine part of doing business. So treat others carefully until you have gauged enough about them to understand how they feel about these behaviors.

Aspiring executives keep their goodwill bank accounts filled up for whenever they need to make a withdrawal. It’s just good business sense.
 
 

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