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Posted by: Emily Thornton on February 23, 2009
Here’s a novel approach to motivating employees:
Chairman of European-based private equity firm Permira Advisers Damon Buffini recently gave his partners a dressing down and ordered them to eat burgers while reflecting on how fortunate they all were to still have jobs.
Britain’s Daily Mail reported that Buffini served his people two-day-old burgers as he informed the gathering he was tired of their poor attitude and wanted to remind them of how lucky they had been in life. Another account of the same meeting that appeared in Britain’s Telegraph said Buffini was reacting in part to overhearing colleagues complain about the food at a five-star hotel during a retreat.
For its part, the 24-year-old prestigious firm which boasts on its web site that its 100 professionals with 425 years of collective private equity experience are “the key asset” of its business is not commenting on the unusual lunch meeting.
Permira’s name is Latin for “very surprising, very different.” This approach to mobilizing employees is certainly that.
How can you manage smarter? BusinessWeek writers Nanette Byrnes, Patricia O’Connell, Emily Thornton, Matthew Boyle, Michelle Conlin and Diane Brady synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news.