I first came across the story of Leonard Abess in a Reader’s Digest article in their July 2009 magazine. He’s the CEO of the Miami-based City National Bank. When he recently sold his majority stake in the bank, he gave $60 million dollars of his profit to all of his current employees and retirees in the form of bonuses based on years served. The guy didn’t tell anyone about it. He didn’t publicize it in any way. He just did a great thing without looking for any pat on the back. Compared to all the self-centered and egotistical CEOs we seem to read about every day, Leonard Abess is a real hero – a decent man. This is the kind of guy I want to work for. He genuinely appreciates his employees and gave them a lot more than the typical lip service most bosses in his position do. In today’s business environment, he is a beacon of hope and someone that more bosses need to emulate. Obviously, not all bosses are in a position to give the type of monetary rewards that he did. However, there are a lot of ways that bosses can reward and recognize their employees. Simple things that employees can appreciate and feel good about.
Let’s hope that there are more bosses like Leonard Abess out there. Let’s hope that his good deed is an inspiration for more people in the business world. If you’re interested in reading more about this man, I included a link to one of the articles about him below.
For the Wharton article, click here.
