There’s a great story in the WSJ on one of the more recent shocking stories of failure: “Burned Out: GE”. It’s worth reading as a cautionary tale of what happens when the fundamentals are ignored.

It’s a fascinating journey of how a company, once viewed as one of America’s most valuable companies could have the CFO on August 2017 break down in tears at a senior meeting. But the elements which led to GE’s decline are not extraordinary. The article talks about a CEO who wants to make his own legacy, an organization trying to do anything to make impossible targets, a board of directors who seemed asleep at the wheel, and a culture of loyalty and optimism in spite of the facts.

One theme that comes up again and again is that it seemed impossible to be the naysayer in the room. Dissent was not allowed…only optimism. While no one wants a lot of “debbie downers”, there is tremendous value in  knowing who the people are who will tell you the truth, or give you bad news.

Of course, they need to be credible. They need to have the facts. And they need to be right, more times than not.  Initially in my career, I found negative people annoying. But as I progressed, I realized how valuable these people are.  The reality is that those people do not care about keeping their job if it means that they have to lie, go along, or passively follow the group if they don’t agree.  It’s not worth it to them.  There aren’t too many people like that….so if you find one, don’t shut them down. Listen. 

What struck me in the article?  One sentence “That often left Jeff Immelt, in the words of one GE insider, trying to market himself out of a math problem.”

It’s that time of year when you may be hearing whether or not you got a promotion.  I’ve had a few people reach out after getting the news, which unfortunately, wasn’t positive. A couple of lessons learned here….

How you handle yourself is key when you get the news. This is the time to be professional. Take a deep breath and thank the person for letting you know. Later on, when you are calmer, it’s worth a conversation to understand why. A couple of questions you could ask:

• “Why do  you think I wasn’t promoted this year?”  Sometimes, it’s timing.  Sometimes, your candidacy isn’t well supported. It’s important to understand why. Your manager won’t get into the details, but he/she should be able to explain broadly.
• “Can you help me understand the process?”  Promotion processes are very rigorous and complex. At some firms, it depends on unanimous approval.  As you get more senior, you may be considered multiple years before your are finally promoted.  It’s useful to have the context…it’s rarely one person’s decision.
• “Is there anything I should have done more of? Less of?”  This is a great question to get to feedback which is more detailed and useful.
• “What do you think my prospects are for next year?”  If your manager exhibits strong commitment to next year’s process, that’s a good sign.
• “What do we need to do together to make sure my candidacy is as strong as possible for next year’s process?”  This is a good opportunity to brainstorm: do you need to be on a committee to raise your profile?  Do you need to step back and groom your directs to take on more leadership roles?  

Not getting promoted when you’re in pipeline feels terrible. You will see other people getting promoted and think “why not me?”  You’ll entertain thoughts of leaving. You will not want to come into work.  All of these feelings are completely understandable. The key here is to listen to the feedback, decide if it’s fair, and think about what you want to do next.