Leadership Management
1 in 4 Companies Fails to Keep High-Potentials
May 15, 2013 | Author dmdurkin
According to a survey of 562 senior managers and executives by AMA Enterprise, 26% of employers are ineffective in retaining their high-potential workers. Even though more than half (56%) are considered “somewhat effective” at hanging on to high-performing talent, only 18% are “very effective” according to the survey’s findings.
“Management succession and future leadership are paramount concerns at most companies today. Yet efforts of organizations to hold on to their best people often fail. Some organizations make only intermittent attempts to identify their up-and-comers, and it seems that those that do so meet with mixed success.”
One of the most common reasons younger workers leave their jobs is lack of full engagement with the company’s objectives. While the young generation has an insatiable appetite for growth and job success, they also:
- Strongly believe in their ability to make major contributions to the company’s success and growth.
- Dislike change as much as older workers, and want to help their organizations grow and prosper.
- Will leave one position for another to make a real difference, to fulfill their career potential, and grow personally and professionally.
A Wall Street Journal study found that 97 percent of the 40 companies surveyed said they needed stronger plans to retain top talent across generations. In other words, most managers feel unprepared to deal with the high-turnover trend.
According to Sandi Edwards at AMA Enterprise, organizations need to focus their high-potentials program on leadership development. “Talented, motivated individuals need to be developed in a number of ways, including mentoring or coaching, training, stretch assignments, action projects, cross-functional teaming and job rotation.” These programs need to also be align with the business needs of the organization and the overall strategic direction of the organization.
To learn about tailored programs to retain your high-potential employees, contact Loyalty Factor at 603-334-3401.
Turn Any Manager into a Great Leader
May 1, 2013 | Author dmdurkin
Did you ever wonder what makes some bosses great and others unbearable? Why do some inspire performance, loyalty and teamwork and others only create turmoil, dodge responsibility or remain unapproachable?
The truth is, great bosses are great leaders, and every day great leaders demonstrate key traits that keep them great.
Develop and Execute the 7 Key Behaviors of Transparent Leadership
- Use the truth to empower others
- Build a better reputation by consistently asking for feedback
- Uphold your commitments
- Take ownership of mistakes to gain trust and respect
- Increase authenticity by letting employees see the real you
- Master ways to deliver bad news kindly
- Use emotional intelligence to make level-headed decisions
Keys to Achieving Respect and Credibility in the Workplace
- Collaborate in ways that supports the business
- Create win-win situations that promote personal improvement
- Develop actionable ways to improve your employees’ success
- Inspire loyalty so people don’t jump ship
For personal coaching to transform from an ordinary manager to a GREAT leader, contact Dianne Durkin at Loyalty Factor – 603.334.3401.
Posted in Employee Loyalty, Employee Retention, Leadership Development, Leadership Management | 
Tags: Emotional Intelligence, inspire | 
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Info Exchange – The Price of Incivility
March 27, 2013 | Author dmdurkin
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the recent article in Harvard Business Review, “The Price of Incivility” by Christine Porath and Christine Pearson.
The Price of Incivility
Rudeness at work is rampant and it is on the rise. The authors believe this chips away at the bottom line because nearly everybody who experiences workplace incivility responds in a negative way.
Employees are less creative when they are disrespected and in many cases may get fed up and leave.
According to the article about half decrease their effort or lower the quality of their work. Incivility also damages customer relationships. The research by the two authors shows that people are less likely to buy from a company with an employee they perceive as rude, whether the rudeness is directed at the customer or another employee.
After collecting data from more than 14,000 people in the United States and Canada, the conclusion is incivility is expensive and few organizations recognize or take actions to curtail it.
A poll of 800 managers and employees in 700 industries showed with incivility. Below are some statistics on the cost of incivility:
- 48% intentionally decreased their work effort
- 47% intentionally decreased their time spent at work
- 38% intentionally decreased the quality of their work
- 80% lost work time worrying about the incident
- 63% lost work time avoiding the offender
- 66% said their performance declined
- 78% said their commitment to the organization declined
- 12% said they left their job because of the uncivil treatment
- 25% admitted to taking their frustrations out on customers
It takes a lot of vigilance to keep the workplace civil. Managers can use several strategies to keep their own behavior in check and to foster civility among others.
Below are some of the strategies:
1. Manage Yourself
2. Model Good Behavior
3. Ask for Feedback on your Behavior
4. Hire for Civility
5. Create Group Norms
6. Reward Good Behavior
7. Conduct Post Departure Interviews
The message is very clear. Just one habitual offensive employee can cost the organization in lost employees, lost customers and lost productivity.
To foster civility in your organization and reduce the impact of incivility, contact Loyalty Factor for aide in improving your organizational relationships!
Posted in Employee Loyalty, Employee Retention, Engagement, Leadership Management, ~ Loyalty Factor Information Exchange ~ | Tags: Engagement, Productivity | Comments Closed
Info Exchange – Winning with Transglobal Leadership
January 30, 2013 | Author dmdurkin
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the book, ”Winning with Transglobal Leadership ” by Linda Sharkey, Nazeen Razi, Robert Cooke and Peter Barge.
In today’s complex global world corporations need to find leaders that can integrate effectively across cultures, countries, geographies, and deal with the complex legal cultural, political and social environments that globalization presents. The first priority for these individuals is to be inquisitive to succeed.
According to the authors of this book you can have all the technology in the world, great cash reserves and great business fundamentals; however, the key to success in the global arena is the people. To manage people effectively, Transglobal leaders not only have high cognitive intelligence (IQ), they have other types of intelligence including:
- Moral Intelligence: Having a clear moral compass and understanding of how different principles and values play out with different cultures across the world.
- Emotional Intelligence: Empathizing and connecting with others on a social and emotional level.
- Cultural Intelligence: Knowing the critical cultural norms and mores of the countries and areas in which one would be assigned. This is not just the subtle differences between cultures, but rather the interpretation of the shared attributes that have been taught and passed down from generation to generation.
- Business Intelligence: Understanding the components of running a successful business. Including:
- Creating and communicating a well-developed and thought-out strategy
- Understanding current and future customer requirements
- Developing processes to deliver results seamlessly in response to customer needs
- Ensuring sufficient data and information to monitor and evaluate performance
- Are good people leaders
According to the book, global leaders are natural innovators and local leaders tend to be more conforming. Meaning, global leaders do not have to work as hard at diversity and inclusion. They tend to be unconsciously competent in this area and they try new things naturally.
In summary,
1. Transglobal leaders are skilled at reading people; they have good antennas, and are sensitive to social norms, behaviors and biases.
2. Transglobal leaders thrive on the differences and welcome fresh angles that diverse perspectives can offer.
3. Transglobal leaders are personally involved discovering and nurturing diverse talent and fostering a culture of inclusive diversity.
For strategies on how to become a magnetic leader and help your organization reach great success, contact Loyalty Factor at 603.334.3401. Loyalty Factor has helped numerous organizations grow beyond expectations by embracing the above disciplines.
Posted in Leadership Management, ~ Loyalty Factor Information Exchange ~ | Tags: Global | Comments Closed
Info Exchange – The Advantage
November 14, 2012 | Author dmdurkin
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the book, “The Advantage – Why Organizational Health Trumps Everything Else in Business” by Patrick Lencioni.
The Advantage
The single greatest advantage any company can achieve is organizational health. That is the premise of, The Advantage, by Patrick Lencioni.
The Four Disciplines Model:
1: Build a cohesive leadership team that trusts one another. They are completely comfortable being transparent where they say and genuinely mean things like, “I screwed up,” “I need help,” “Your idea is better than mine,” and even, “I’m sorry.”
2: Create Clarity. The leadership team of a healthy organization must be intellectually aligned and committed to the same answers to six simple but critical questions:
- Why do we exist? (An organization’s core purpose.)
- How do we behave? (Core values that are the heart of the organization’s identity.)
- What do we do? (The organization’s business.)
- How will we succeed?
- What is most important right now? (When executives agree on their top priority, they must take collective responsibility for achieving it and dissolve silos.)
- Who must do what? (Regardless of how clear or confusing a company’s “org” chart may be, it is always worthwhile to take a little time to clarity so that everyone on the leadership team knows all critical areas are covered.)
3: Overcome Clarity. Once a leadership team has established behavioral cohesion and created clarity around the answers to those questions, it must then communicate those answers to
employees clearly, repeatedly and enthusiastically.
4: Reinforce Clarity. In order for an organization to remain healthy over time, its leaders must reinforce clarity in every process that involves people.
The single biggest factor determining whether an organization is going to get healthier – or not – is the genuine commitment and active involvement of the person in charge.
For tips and strategies on how to give your organization a competitive advantage, contact Loyalty Factor at 603.334.3401. Loyalty Factor has helped numerous organizations grow beyond expectations by embracing the above disciplines.
Posted in Leadership Management, ~ Loyalty Factor Information Exchange ~ | Tags: Clarity, Trust | Comments Closed
The Big E: Employee Engagement
September 19, 2012 | Author dmdurkin
According to Zig Ziglar, workers have three primary needs:
- Interesting work
- Recognition for doing a good job
- Being let in on things that are going on in the company
In response to the brutal economic and workplace changes that have occurred in recent years, research by Gallup shows that more than 2/3 of American workers are either not engaged in their workplaces – just putting in their time – or actively disengaged – unhappy and spreading discontent.
The cost of disengagement is high turnover rates, weak leadership and lack of innovation and creative ideas. When people are disengaged, creativity and innovation become nonexistent. Productivity suffers because people are not in problem solving mode. They are watching the clock instead of coming up with new ways of doing things.
Other studies have shown there are significant gaps in earnings due to lack of engagement, and the lack of engagement can cost as much as 35% of payroll.
Companies with low employee engagement see a in the negative growth operating income of -32.7% and percentage growth net income of -3.8%, with a percentage improvement earnings per share of -11.2%.
Companies with high employee engagement realize positive effects. They see growth operating income at 19.2%, percentage growth net income of 13.2% with a percentage improvement earnings per share of 27.8%.
WOW! What a huge difference. With these kinds of results, the importance of engagement is very apparent.
What type of workers do you think you have in your organization, and what can you do?
Engagement and getting people involved in teams in solving business issues are critical to improving bottom-line results.
Provide the teams with specific goals, objectives, deliverables and timetables for execution and you will see creativity and innovation at its best.
In this team environment you combine left brain, right brain characteristics for whole brain creativity. Each thinking preference is represented, and with proper goals, objectives and deliverables they can leverage their collective creativity.
Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people. www.loyaltyfactor.com
Posted in Employee Loyalty, Employee Retention, Engagement, Leadership Management, Uncategorized | Tags: Engagement, Growth, Video | Comments Closed
Info Exchange – Smart Trust
September 12, 2012 | Author dmdurkin
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the book, “Smart Trust: Creating Prosperity, Energy, and Joy in a Low-Trust World” by Stephen M. R. Covey.
Smart Trust
In Smart Trust, Stephen M. R. Covey and long-time business partner Greg Link share principles and anecdotes of people and organizations that are not only achieving unprecedented prosperity from high-trust relationships and cultures, but also attaining elevated levels of energy and joy. They show why trust is fast becoming the most consequential life and leadership skill of our time – a career-critical competency required to navigate and compete in this perilous 21st-century, interdependent, global economy.
Smart Trust shares findings that verify how enduring success, vitality and happiness are directly related to the level of trust in our relationships – whether in our professional or personal lives.
Trust Changes Prosperity
A company’s reputation, and its ability to:
- Partner and collaborate with others,
- its capacity to innovate,
- engage its people,
- to retain great people,
are powerfully affected by trust. Trust has become the new currency of the global economy.
The reason there is such a direct connection between trust and prosperity is that trust always affects two key inputs to prosperity: speed and cost. When trust goes down in a relationship, on a team, in an organization, or in a country, speed goes down and cost goes up. Why? Everything takes more time, and miscommunication, redundancy and rework create costly delays.
People are able to communicate faster, collaborate better, innovate more, and do business faster and more efficiently. High trust is a performance multiplier – a multiplier that translates directly into greater prosperity: increased revenues, profits, economic outcomes, and results.
Trust Changes Energy
Although there are numerous drivers of engagement, the two biggest drivers are:
1. The relationship of trust employees have with their supervisor.
2. The trust employees have for the organization at large.
When we extend trust, we generate trust; when we withhold trust, we generate distrust. Our actions lead either toward a virtuous upward cycle of prosperity, energy and joy; or toward a vicious downward cycle that eventually results in the destruction of these outcomes.
A few trust-building behaviors:
- Talk Straight – Be honest. Tell the truth. Let people know where you stand. Use simple language. Call things what they are.
- Create Transparency – Tell the truth in a way people can verify. Get real and genuine. Be open and authentic. Err on the side of disclosure.
- Clarify Expectations – Disclose and reveal expectations. Discuss them. Validate them. Don’t assume that expectations are clear or shared.
- Keep Commitments – Make commitments carefully and keep them at almost all costs – or communicate and renegotiate if you absolutely can’t. Don’t break confidences.
To learn more about how to build an organization based on trust, contact Loyalty Factor at 603.334.3401, who offer specialized workshops in building trusting relationships that will last the test of time.
Posted in Leadership Management, ~ Loyalty Factor Information Exchange ~ | Tags: Covey, Energy, Engagement, Trust | Comments Closed
Authentic Leadership: Knowing Your Authentic Self
April 4, 2012 | Author dmdurkin
Continuing with our topic from our last blog about authentic leadership, we will explore more about the center item on the True North compass, how to know your Authentic Self.
The journey to Authentic Leadership consists of Self Awareness, Values and Principles, Motivation, Integrated Life – and now, knowing your Authentic Self.
Authentic Leadership is:
- Being aligned with who you are (being the real you)
- Finding coherence between your life story and your leadership
- Bringing people together around a shared purpose
- Empowering people to step up and create value
Knowing Yourself:
- Finds passion that motivates you
- Finds the purpose of your leadership
- Feel comfortable in your own skin
- Know your strengths and weaknesses and fill the skill gaps with colleagues that complement you
- See yourself as others see you
Protecting & Practicing Your Values & Principles:
- Understand the values and principles that guide your leadership
- Decide what is most important to your life
- Set clear limits as to what you will do under pressure
In summary, Authentic Leaders are grounded in who they are and what they stand for, and operate with honest, integrity and congruency.
Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people. www.loyaltyfactor.com
Posted in Leadership Management, Magnetic Leadership | Tags: Communication, Engagement, Integrity, Values | Comments Closed
Info Exchange – The Power of Professionalism
March 28, 2012 | Author dmdurkin
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the book, “The Power of Professionalism: The Seven Mind-Sets That Drive Performance and Build Trust” by Bill Wierma.
The Power of Professionalism
When only 17 percent of employees believe their leaders have the organization’s best interests at heart… When only 18 percent of Americans trust lawyers completely … When the Google search “Has U.S. business lost its way?” yields 159 million hits … Something is very, very wrong. Is it any wonder that cynicism is at an all-time high and trust at an all-time low?
The solution according to the authors is professionalism. They state professional ideals build trust. And trust is the foundation for both personal and organizational success. With trust, people tend to be more confident, proactive and hopeful. Without trust, people tend to be more skeptical, withdrawn and pessimistic.
In The Power of Professionalism, Wiersma outlines the seven mind-sets of trusted professionals.
1. Deliver results. Equal importance should be given to delivering the right results in the right way AND to sustainable outcomes.
2. Realize (and act like) they’re part of something bigger than themselvesmeaning they put the interests of the organization (a client) ahead of their own.
3. Know things get better when they get better. The result they are continually learning and growing personally and professionally.
4. Hold themselves to exacting standards:
- Have a personalized core set of values
- Do what’s right over what’s expedient
- Stay focused and avoid pointless drama
5. Practice Personal Integrity:
- Authenticity and honesty
- Delivering on one’s commitments (both explicit and implicit)
- Refusing to violate the trust others have extended to them
6. Aspire to Emotional Consistency.
- Respect when it’s difficult to be respectful.
- Maintain objectivity.
- Manage their egos.
7. Reveal value in others meaning being comfortable in one’s own skin and not threatened by others.
Understanding the importance of trust is one thing: building it is quite another.
Professionals build trust!
Posted in Employee Loyalty, Leadership Management, ~ Loyalty Factor Information Exchange ~ | Tags: Integrity, Professionalism, Results, Trust | Comments Closed
Authentic Leadership
March 21, 2012 | Author dmdurkin
According to Bill George who wrote the book True North, authentic leaders not only inspire those around them, they empower people to step up and lead. The authentic leader brings people together around a shared purpose and empowers them to step up and lead authentically in order to create value for all stakeholders.
The journey to Authentic Leadership is:
- Self Awareness
- Values and Principles
- Motivation
- Integrated Life
- Knowing your Authentic Self
Self Awareness: When you know yourself, you can find the passion that motivates you, and the purpose of your leadership. Leaders who know themselves well become comfortable in their own skin, act consistently in different situations and gain the trust of others.
Values and Principles: Being centered on your values is not easy, but it is essential to true leadership. When you have a clear understanding of your values and their relative importance, you can establish the principles by which you intend to lead.
Motivation: There are two types of motivation: extrinsic and intrinsic. Extrinsic motivations are measured by the outside world, and include winning athletic competitions or making money.
Intrinsic on the other hand stem from a personal sense of meaning of ones life. This can include personal growth, helping other people develop, and making a difference in this world. As individuals grow in their leadership capabilities, they tend to pursue roles that are in tune with helping others and making a difference.
Integrated Life: Authentic leaders are constantly aware of the importance of staying grounded: spending time with family, close friends, getting physical exercise, practicing spirituality, and doing community service.
In our next installment we’ll explore more of the center item – Knowing Your Authentic Self.
Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people. www.loyaltyfactor.com
Posted in Leadership Development, Leadership Management, Leadership Secret Weapons, Magnetic Leadership | Tags: Authenticity, Magnecitc Leadership, Self Awareness, Trust | Comments Closed