Which changes would you introduce?
What'd would you focus on first?
Are there any parts of the business that you'd leave unchanged?
Any people change?
Oh, that llst of questions is so long ;-)
11 replies (most recent on top)
@Varys - Well said. I have never seen so many senior leaders micromanaged. In some cases, the senior leader was hired after paying a recruiter and giving the leader money to move, a hiring bonus and more. The senior leader usually leaves in a few years because of the way they are treated. 3M has lost so much talent because of passive aggressive employees, the lack of inclusion if you are hired from outside of 3M, the way 3M HR treats people and more.
Great chance to speak up here and create my own 3M :)
3M has to change from Top to down. At all levels, including significant skillset review for all employees so they match with existing market. We are far behind from reality and from customer needs. Investing more in AI to leave the space for creative work in various areas.
Cut positions ONLY when new process is 100% implemented and gone through hyper care phase. Less management positions, more hands-on employees and great leaders on board who are ambitious and ready to deliver not only speak during the Town halls. Repeating and repeating the same phrases all the time.
More people from smaller countries should be in Global positions, especially from EMEA where is complex day-to-day environment.
Determine what 3M looks like in 10 years and beyond.
Invest in Class 1-3 R&D NPI
Search for new CFO /CEO
AI in Management -
Fire our CFO.
Boring and useless post
From a business perspective - among many other things, I'd like to see employees who manage their career by jumping to new jobs every 2-3 years deemphasized for opportunities and the people who are experts in their field by committing to the business needs celebrated and elevated. I'm not saying make this "all or nothing" but 3M has been mismanaging this topic for decades. Need better balance.
For R&D - as I mentioned a few months ago, I'd like a grading system for patents coming out of the lab. Instead of measuring "how many" an lab employee gets, grade them by what relevance the patents have to the markets 3M serves. Lots of great people in our labs, but I've seen way too many patent plaques on office walls that have driven little to no sales for 3M.
Varys is my kinda guy. Sounds like you've been here a while and certainly know what made 3M what it was.
I would start firing myself.
Well I’d like to see a lot of things change, but I’d be here all day typing an essay. My changes would mostly like with management.
One major change I would like to see is that management/supervision should have full understanding of what their direct reports jobs are- to the extent that they should be able to do the job of their direct report if it came down to it. I often see (at-least on the R&D end of things) incompetent supervisors that literally have no clue what the day to day work lives of their direct reports are like and dont even really have a full understanding about the areas they supervise.
Also that management’s performance reviews should be based on how well they manage- why aren’t direct reports asked for feedback on their supervisors?? I understand that there may be a disgruntled employee or two, but if someone is a cr-p manager then I think feedback amongst all direct reports would reflect that…
My answer from January that still is my answer:
Simple, return to 3M's roots:
Make premium products - if it can't at least arguably claim to be best in class, discontinue or private label it away from the 3M brand. R&D is a big part of this.
Sell value - By this I mean actually have 3M sales people and tech service out in the field selling. Show the world that a better 'mousetrap' exists and that is will make their lives better/easier/safer. Distribution and channel partners will not do this, it runs counter to their very business model.
Maximize flexible manufacturing - A secret strength of 3M is the ability to make a great many products on a single line. Sometimes complex supply chains have large advantages.
Tell Wall Street and the hedge funds to go fu-k themselves in no uncertain terms. 3M can generate plenty of cash to grow. 3M does not need their money. If they don't like it, invest elsewhere.
Play long-term: Build the new 3M to think in terms of years and decades, not months and quarters. R&D needs to be playing at this time frame to work.
Return to the McKnight principles - Be very selective to hire the best, pay them well, and let them do their jobs. Knock most decision making down 1 to 2 levels in the organization. If a division or BG president is approving anyone's travel, it had better be to space.
For the 3M monitors on the site: If you want more details, reach out for a consulting agreement. I promise I'm much cheaper than McKinsey.