I would add this: The three Ps: pay, promotion, perks. People perceive you, their manager, as all-knowing and all-powerful about them. You aren't. But you'll n

I would add this: The three Ps: pay, promotion, perks. People perceive you, their manager, as all-knowing and all-powerful about them. You aren't. But you'll never convince your team that you aren't. So: 1. People never forget what you say about the three Ps. Never, ever, even once, make jokes or offhand remarks about them. 2. Don't say anything that might sound like a promise unless you are CERTAIN you can keep that promise. NO: "I'll give you a raise IF I can get the budget for it" YES: "It's budget planning time." And this: Layoffs suck. If you have to lay people off, do it promptly once you've decided who. Don't wait. Don't dither. Get it done. Pending layoffs generate rumors and anxiety that can make your company a horrible place to work. It's always hard to get a team back on track after a layoff. Don't make it harder by your indecision and delay.