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UPDATE: Promotion - should I make any requests?

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So, three years ago I posted this: https://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=1355705

Here is my update.  I originally declined the position twice, before realizing that the owners were serious about firing my boss.  I told them that I would do whatever was needed.  I didn't want to throw my boss under the bus, but I also didn't want to take the chance that they would bring in another unknown person to be my boss.  I ended up taking the job.  It was good, great pay (well over $100K with bonuses), work from home when I wanted, 4 weeks paid vacation, pretty decent business trips, etc...  I replaced much of upper management, as they were a lawsuit waiting to happen (sexual harassment issues), and hired/promoted people who became very loyal to me.  With the team I built, we built a really good reputation with our customers, resulting in taking away quite a bit our competition's accounts.  Fast forward to Oct 2015, owner #1 starts having an afair with the VP of Finance, and all of the sudden starts becoming very interested in the business, for the first time in 20+ years.  He starts micro-managing and making stupid business decisions.  After 6 months of his crap, I turned in my 2-week notice.  By this point, he and owner #2 are fighting each other, so owner #2 calls me and asks if I would be willing to stay on if he took control of the company.  I said yes, but that owner #1 is the most arrogant man I have ever met, so don't expect it to happen.  Owner #2 sends an e-mail telling owner #1 that he wants him to become a silent partner.  Didn't go over well.  So, owner #2 pretty much becomes the silent partner and stops trying to fix problems.  Within 2 months, all of my loyal management team quits, the company is losing so much money they cannot afford to replace me, my assistant, or any of the managers that quit.  I understand they were losing upwards of $100K per month.

It was a good run, especially the first year, but I'm glad I'm not there any more.  

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Are you and owner #2 business partners now?

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psychoslowmatic said:   Are you and owner #2 business partners now?
 Owner #2 is still involved right?  That might be a conflict of interest to start a competing company.

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Thanks for the update.

The thread title confused me. Thats the title of the original thread. OP took a promotion sometime int he past 3 years and his update today is the result as the company apparently fell apart.

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Too bad owner #1 will blame everyone but himself. I've been in that situation more than once and left companies that ceased to be within a year.

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forbin4040 said:   
psychoslowmatic said:   Are you and owner #2 business partners now?
 Owner #2 is still involved right?  That might be a conflict of interest to start a competing company.

 

  We are not business partners.  He would not start a competing company, but he is setting himself up with another company while the current company sinks.  I'm not sure I would go into business with him, but I would definitely take a high-level position if he offered it to me.  We are supposed to be getting together for lunch within the next few weeks.  
jerosen said:   OP took a promotion sometime int he past 3 years and his update today is the result as the company apparently fell apart.

 

   
Correct.  The company culture started going south around October 2015, when owner #1 started getting involved in day-to-day operations.  His actions started affecting profits around March/April 2016.  I quit in October 2016.
forbin4040 said:   
 
Very true.  But, that's to be expected with arrogant individuals.  He completely destroyed the culture, profits, and even owner #2 told me that the company will eventually go under.  It's sad, because they employ nearly 750 people.

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snnistle said:   So, three years ago I posted this: https://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=1355705 

Here is my update.  I originally declined the position twice, before realizing that the owners were serious about firing my boss.   It was good, great pay (well over $100K with bonuses), work from home when I wanted, 4 weeks paid vacation, pretty decent business trips, etc...  I replaced much of upper management, as they were a lawsuit waiting to happen (sexual harassment issues), and hired/promoted people who became very loyal to me.  With the team I built, we built a really good reputation with our customers, resulting in taking away quite a bit our competition's accounts.  Fast forward to Oct 2015 ...

It was a good run, especially the first year, but I'm glad I'm not there any more. 

Thanks for the update, interesting to read. 

I guess the question I have is around the timelines as something seems off.  Your original post about the promotion was in April of 2014.  So within the next 18 months you declined the position twice, then finally took it, then found justification and went through the process to terminate much of the upper management, then hired a whole new team, which went on to generate such a great reputation in a very short time that you started taking away a lot of competitors' business, in a company that was 700+ employees at the time and is now 750 (i.e. not much growth over the last 3 years).  So in Oct 2015 it all started to fall apart with owner #1's micromanagement and you eventually departed around Oct 2016 (Oct 2015 + 12 months), after which you waited 8 months to post this update?? (gag order?)

Is that accurate?  I do question that your hand-picked management team was so amazing that you won so much business in the next 12-15 months, but your company hired very few new people to service that business??  Plus, I've seen owners make some awful decisions, but usually in very well-run organizations there is so much inertia that it just reduces the profit margins, doesn't lose them massive amounts of money over the next 2 years. Plus the owners had originally grown the company from 2 to 700 people somehow. Is there a missing piece of information here?  It's possible, it just seems...

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You forgot to end your update with you quitting..

A while ago

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Morty said:   
snnistle said:   So, three years ago I posted this: https://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=1355705 

Here is my update.  I originally declined the position twice, before realizing that the owners were serious about firing my boss.   It was good, great pay (well over $100K with bonuses), work from home when I wanted, 4 weeks paid vacation, pretty decent business trips, etc...  I replaced much of upper management, as they were a lawsuit waiting to happen (sexual harassment issues), and hired/promoted people who became very loyal to me.  With the team I built, we built a really good reputation with our customers, resulting in taking away quite a bit our competition's accounts.  Fast forward to Oct 2015 ...

It was a good run, especially the first year, but I'm glad I'm not there any more. 

Thanks for the update, interesting to read. 

I guess the question I have is around the timelines as something seems off.  Your original post about the promotion was in April of 2014.  So within the next 18 months you declined the position twice, then finally took it, then found justification and went through the process to terminate much of the upper management, then hired a whole new team, which went on to generate such a great reputation in a very short time that you started taking away a lot of competitors' business, in a company that was 700+ employees at the time and is now 750 (i.e. not much growth over the last 3 years).  So in Oct 2015 it all started to fall apart with owner #1's micromanagement and you eventually departed around Oct 2016 (Oct 2015 + 12 months), after which you waited 8 months to post this update?? (gag order?)

Is that accurate?  I do question that your hand-picked management team was so amazing that you won so much business in the next 12-15 months, but your company hired very few new people to service that business??  Plus, I've seen owners make some awful decisions, but usually in very well-run organizations there is so much inertia that it just reduces the profit margins, doesn't lose them massive amounts of money over the next 2 years. Plus the owners had originally grown the company from 2 to 700 people somehow. Is there a missing piece of information here?  It's possible, it just seems...

  
Your skepticism is understandable. I turned down the promotion twice before accepting in March 2015. . Termination of upper management followed quickly, and was an easy process.  They were in clear violation of company policy, and in one case, in clear violation of the law. Terminations were handled by me and the VP of HR, who was also an attorney. I then hired two new and promoted three others, one of whom previously held the position. The second layer of open management positions were also filled. I looked for a certain personality traits over experience or education. We quickly built a great reputation due to our follow through, honesty, and quality of service.  Regarding customers, we turned in notice on some unprofitable accounts, but gained approximately 50 new accounts from existing customers.  The kicker is that we were predominantly in a market where there we approximately 65,000 open jobs. This made hiring new employees extremely challenging. So, we reorganized things to run more efficiently, which allowed us to hire fewer new employees. Even then, we did have some trouble staffing. Each client location required between one and six employees, but in most locations, two employees were required. Finally, you need to keep in mind that owner #1 was mostly a silent partner for nearly 20 years, while owner #2 busted his hump to build a successful business. So, when owner #1 started calling the shots, a lot of his moves were not sound business decisions, they were knee-jerk reactions or selfish decisions that were in his immediate best interests. It was very disappointing to most of us, and such a morale killer, that many of us decided to move on. I left in early October without having another job lined up, but got hired on and started working at a law firm in November 2016. Four in upper management also left, as did a number of other managers and office employees.  It was unfortunate, because up until owner #1 got overly involved, I loved the job. 

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agoogilydoogily said:   You forgot to end your update with you quitting..

A while ago

  Read it again. "After 6 months of his crap, I turned in my 2-week notice."

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Pics of the VP of Finance?

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NoMoneyInMyWallet said:   Pics of the VP of Finance?
  Lets just say her dimensions have changed drasticly over the last few years. 

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