To ensure alignment, Matt Spielman's coaching process starts with senior leadership. When managing partners define and share their "game plans," their goals become the organization's goals. This creates a natural cascading effect, as direct reports align their own objectives to support the firm's primary mission.

Effective delegation of decision-making authority is impossible without first ensuring leaders are deeply aligned on organizational objectives. When individuals are empowered to make choices but pull in different directions, the result is a quagmire, not progress. Alignment must precede autonomy.

To ensure genuine collaboration across funds, Centerbridge structures compensation so a "substantial minority" of an individual's pay comes from other areas of the firm. This economic incentive forces a firm-wide perspective and makes being "part of one team" a financial reality, not just a cultural slogan.

Exceptional people in flawed systems will produce subpar results. Before focusing on individual performance, leaders must ensure the underlying systems are reliable and resilient. As shown by the Southwest Airlines software meltdown, blaming employees for systemic failures masks the root cause and prevents meaningful improvement.

The belief that people fail due to lack of will leads to blame. Shifting to 'people do well if they can' reframes failure as a skill gap, not a will gap. This moves your role from enforcer to helper, focusing you on identifying and building missing skills.

While bonuses tied to revenue incentivize employees to perform specific tasks, they are purely transactional. Granting stock options makes team members think holistically about the entire business's long-term health, from strategic opportunities to small cost savings, creating true psychological ownership.

Mandating new processes, like reducing meetings, is ineffective if the collective beliefs driving old behaviors (e.g., lack of trust) are not addressed. To make change stick, leaders must first surface, discuss, and realign the team's shared assumptions to support the new structure.

Structuring compensation around a single, firm-wide P&L, rather than individual deal performance, eliminates internal competition. It forces a culture of true collaboration, as everyone's success is tied together. The system is maintained as a meritocracy by removing underperformers from the 'boat.'

Employee retention now requires a customized approach beyond generic financial incentives. Effective managers must identify whether an individual is driven by work-life balance, ego-gratifying titles, or money, and then transparently tailor their role and its associated trade-offs to that primary motivator.