Rick Hendrick, NASCAR Hall of Famer, Talks Valuing People Over Profits
Today’s “cancel culture” tells us that when something or someone isn’t working, you need to make a change and make it quickly. One of the most successful in his industry emphasizes the opposite: Develop — don’t fire — your people and profits will follow. Rick Hendrick grew up on his family’s farm and turned that formula and his passion for the automobile into several successful business ventures.
The first, Hendrick Automotive Group, is the largest privately held automotive retail organization in the United States. With more than 130 retail franchises from the Carolinas to California, the company employs more than 10,000 people. The company’s top 15 leaders have been with Hendrick for an average of more than 25 years, a record of longevity and loyalty that would be hard to match in any industry.
Secondarily, he founded Hendrick Motorsports in 1984. Since then, his team has won an all-time record 13 NASCAR Cup Series championships. His rock-star roster of drivers has included Jeff Gordon, Jimmie Johnson, Dale Earnhardt Jr., and Chase Elliott.
This episode explores the ultimate formula for competitors who want to keep their team revved up, including: Keys to proper communication, how to celebrate IMPROVEMENT as much as success, and how to limit mistakes.
“You can only drive people for so long,” Hendrick said, “but you can lead them forever.”
YOU WILL LEARN
(3:00) Hendrick’s childhood and humble beginnings.
(12:15) The best way to motivate your team.
(17:00) How Hendrick’s team leveraged the lessons they learned in the Pandemic.
(21:00) How to appreciate challenging times.
(29:30) The difference between driving people and leading people.
(32:00) How to speak truth to your team.
Check out the full Corporate Competitor Podcast interview archive.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
