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Seth’s Takeaways
3. Are seen as much stronger in what we call the Basic Four areas of leadership:
a. Goal Setting
b. Communication
c. Trust
d. Accountability
Some estimates to replace a departing employee range up to a stunning 250 percent of that person’s annual
salary.
o Just a 5 percent increase in employee loyalty can increase profits by as much as 50 percent.
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We communicate to the masses, but we manage to the one.
Pg. 45: Messages sent by the Manger and how they are received:
Pg. 56-57 Altruists: were found to have cared instinctively about their employees as individuals and took the
time to find out what motivated each. They also recognized more often and were prompter in celebrating great
behavior, and that made their efforts vastly more authentic with employees and much more successful in spurring
greater achievement.
Altruists:
o Have a deeper understanding of and higher regard for the underlying human need for
recognition in their team members.
o Are compelled to improve the overall lives of their employees and in turn reap greater loyalty,
respect, and trust from their people.
o Are able to achieve better performance for the company than Expector managers and non-
recognizing managers, but that is secondary to their sensitivity toward the individuals in their
charge.
o Are either driven internally or influenced by a senior leadership group that uniquely cares for
their people and gives managers the tools to effectively recognize. The Carrot Principle | 11/23/2010
1. Insecure
o Working hard doesn’t ensure success
o They have no assurance of job stability, promotion, or pay increases.
2. Stressed
o They face pressure from “productivity” and increased competition
o Insecurity fosters the idea that performance is never enough
o They are working harder than ever before.
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3. Discontent
o More than 50 percent of workers are dissatisfied.
o Less leisure time increases reliance on work for fulfillment
o Intrusion of work into home life creates resentment
o Employees feel a lack of empowerment
4. Disloyal
o More employees today view work merely as a job
o Employment is viewed as temporary, and employees are often on the lookout for better work.
Pg. 65 Effective managers create work-life success for their employees when personal goals are
linked to work well-being.
Pg. 75: Managers who invest in choosing relevant awards suddenly find themselves becoming much
more relevant as well.
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A satisfied employee is happy with current pay, benefits, and atmosphere – so happy, in fact that he may be
reluctant to change the status quo through initiative or achievement.
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3 Priorities on Management lists:
o Engagement
o Attracting and retaining talent
o Building Leaders
Engaged employees give their all to achieve company goals. They are your above-and-beyond performers,
your go-to people. We certainly want more like them. But they too have a dark side: they are the most
sought after people you have. With so many career options open to them, engaged employees are most
likely to be the first out the door if they are unhappy with salary, management, or resources.
Engagement and Satisfaction can’t work alone by themselves, must incorporate both.
Day-to-day recognition
o Frequent – every seven days
o Specific – unique to the person / persons – more valuable *see 105-106 for example*
General praise has no impact
o Timely – to reinforce the right behaviors, we must reward them in a timely fashion.
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Above-and-beyond recognition: 86% of workers aren’t willing to go the extra mile.
o Pg. 111 Value, Impact, Personal to reduce the % of workers not willing to go the extra mile.
Value Awards should be presented for:
Significant achievements: great performances, excellent results, and actions that
further your team or organization’s core values.
Ideas: generating a cost-saving or improvement idea that provides real financial
benefit to your organization
Sales: Achieving overall or area sales targets, winning new accounts, retaining
your best customers, upgrading existing customers, selling a specific product,
and so on.
Impact:
The perceived value of the award equate to the impact of the achievement – at
least symbolically.
To have impact, an award should fairly represent the impact of the achievement.
Assuming it does and assuming that during its presentation you link the impact of
the person’s accomplishment to the company value demonstrated, you are two-
thirds the way home. All you need to remember is the third component
(personal)
Personal
Everything should be about the person, find an award that matches the
employee’s interests, tastes, and sensibilities.
o Employees value input from their direct supervisors more than direction
from anyone else.
o Tell a specific informed story about the accomplishment:
Situation
Action
Impact
Link to company values
Pg. 117:-123 Career recognition
o You’ve been here three months now. Let me ask you, have we lived up to our promises to you?
After all, when we recruited you, we told you that this would be a great place to work. We said
The Carrot Principle | 11/23/2010
you would do cool things, work with fascinating people on fun projects. Are we what we told you
we would be?
o What do you think we do best here? I think I know what we do best, but you have a fresh
perspective. I want to know what you think we do best.
o At your other jobs, I’m sure you saw things that worked really well. Is there anything you’ve seen
elsewhere that we might be able to use here to make our company better?
Celebration events
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Pg. 125-138: Reasons as to why we don’t recognize
Page 196; in the beginning, recognition can feel awkward, disorienting, unnerving. But our advice is to keep with it.
The Carrot Principle | 11/23/2010
Start by writing a few handwritten, specific thank-you notes at the end of the day today, and see how they are
received. Start by calling your employees together once a week and presenting an award to someone who has gone
above and beyond. Start by making a great formal presentation of the next service award in your group.
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Predictors of Engagement
Predictors of Engagement
2. Trust
a. Management trusts the judgment of people at my level in my organization.
b. I trust my immediate supervisor.
3. Organization Symbol
a. I feel a strong sense of pride when I see our organization symbol/logo
Goal Setting
Communication
Recognition
Communication (continued)
Trust
Accountability
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Reference Page (Pages I Noted)
Pages:
51
54
56
57
59
62-63
64
66
68-70
75
79
80-81
83
85
87-88
92
100
102
104
106
108
110-113
116-117
119-121
126-138 The Carrot Principle | 11/23/2010
141-161
166-171
174-193
195-196