Semco: management by omission (actively doing nothing)
• No organizational chart • No mission statement • No business plan or company strategy - or two-year or five-year plan • No long-term budget • No mandatory meetings • No audits, internal or external, if 100% owned • No monitoring employee email or online activity • No dress code • Upside-down management: workers can set their own hours and salaries, and hire their managers Semco philosophies:
• Leadership is situational • Workers are adults, not children • “We'd rather screw up once or twice a year than curb the energy, creativity and drive that comes from freedom and lack of control.” • A company should trust its destiny to its employees |
Semco successes:
• Huge growth in spite of a fluctuating economy – 90 employees to 5000 – annual revenue: $4 million in 1982, $35 million in 1994, $160 million in 2001, $212 million in 2003 • Rising profits • Highly motivated employees, low turnover (<1%~2%) • Leading position in diverse products and services • Uncompromising ethical practice in a corrupt country |
Maverick: The Success Story Behind the World's Most Unusual Workplace
by Ricardo Semler (owner of Semco) The Seven-Day Weekend: Changing the Way Work Works by Ricardo Semler (owner of Semco) |