The Future of Work With Jacob Morgan

Tracy Reinhold is currently the Chief Security Officer at Fannie Mae, a role he has held since 2015. Prior to working for Fannie Mae, Tracy spent 22+ years working for the FBI, first in the Intelligence Program in areas such as counter-terrorism and national security, and then as an FBI career agent.

With between 10,000 to 12,000 employees, the Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise and, since 1968, a publicly traded company. Founded in 1938, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities, allowing banks to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations. Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac.

According to Reinhold, every company is a technology company today. It doesn’t matter what your core business is, whether it is in finance, logging or retail, it is bettered by technology

At Fannie Mae the security system is complex. For example, they have sensors on all their floors to figure out the most traveled patterns in the building so they can figure out the best evacuation routes or occupancy plan. This is beyond the usual idea of security functions within a company.  

Security is a cost center for any company. It’s not adding money to the bottom line, as opposed to what it really does - take money away from the bottom line. So in order to be viable, you have to think about what sort of technology can be leveraged to protect the building.  Or consider how it will also enhance the building operation. Ask how could this better utilize the space that the core business is currently using?

Something else going on at Fannie Mae is to leverage technology to enhance access control to what they consider critical spaces.   For example, to reduce a company’s security force. If a turnstile that allows one to reduce 3 shifts of security personnel, the initial investment of $65,000 for that turnstile is quickly offset. So when one makes a pitch to the C Suite, you need to articulate how you will make a return on that technology investment.

When asked if he is worried about the use of increasing technology, Reinhold says, “I am not worried, I’m aware, and I think that is the difference”.

 

What you will learn in this episode:

  • Many innovative ways Fannie Mae is utilizing technology in their buildings and with their employees
  • What it is like to work at Fannie Mae
  • The current state of work and security
  • Why every company is a tech company today
  • How Fannie Mae deals with threats/hacks
Direct download: Tracy20Reinhold20Podcast_DONE.mp3
Category:Business -- posted at: 8:40am PDT

Companies like Google, Netflix and Facebook have great perks and workspaces, but just trying to copy and paste their ideas into your company will not get you very far.

There has been a lot of talk over the past few years about the unique and impressive things that companies like Google, Netflix and Facebook have implemented. These companies have some great employee perks such as free food, massages, work flexibility and unlimited sick days. They have fun and exciting workspaces that include rock climbing walls, breathtaking views, on site gyms with trainers, open floor plans and napping pods. A lot of company leaders see what Google, Netflix and Facebook are doing and they feel they have to do the same to attract and retain their people, but this is a horrible idea.

The fact is, companies like Google are not making these decisions on a whim, so neither should you. They are implementing these things based on people analytics, data, research and studies.
They reach out to their employees to find out what they want and need and that is what determines their next move. Every company is unique and therefore simply copying Google is dangerous and it won’t get you very far.

The truth is there is no secret to figuring out what perks and benefits to offer your employees. If you want to create an organization where people genuinely want to show up to work you just have to ask your people and listen to them. Focus on what makes your company unique; what are your values, what are your goals, what do your people care about? Trying to be like Google kills what makes your organization special. So instead of trying to copy and paste from Google, try figuring out what is important to your organization and to your people before implementing perks, benefits or a new workspace.

Direct download: why_your_organization_should_stop_being_google_podcast.mp3
Category:Business -- posted at: 10:27pm PDT

1