Monthly Archives: February 2013

Info Exchange – Five Ways to Keep Employees Excited

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 Fortune, Five Ways to Keep Employees Excited” by Verne Harnish.  

 

Five Ways to Keep Employees Excited

In a recent article in Fortune Magazine, Verne Harnish describes five specific ways to keep employees excited. He summarizes it by saying, “Get them invested in your firm, and then eliminate the bad bosses and the red tape.”

His five ways include:

 

1.Give them a voice – Conduct focus groups or retreats to give them input. According to Verne, the more you give people a voice, the more they step up.

 

2. Clear the roadblocks – Once again, get input from your employees. According to Verne you ask them what stupid processes and obstacles are slowing their work; whether it is long meeting, endless paperwork, or incompetent colleagues and then free them from these hassles.

 

3. Grow better bosses – People don’t quit companies, they escape lousy managers. One recent survey showed that 65% of workers would prefer a new boss over a raise. If the team is underperforming, take a close look at who is managing that team. Do they know how to coach? Do they know how to manage? Do they know how to help people excel?

 

4. Take a break from austerity – Reward recognition and appreciation are key for individuals to excel at their work and become highly motivated and engaged within the organization. Do what you can within the boundaries of the organization to show appreciation and how much individuals are valued.

 

5. Make employees dreams a reality – One company highlighted in this article developed a program called “Dream On” where the company fulfilled one wish for each employee. What they found is that the employee requests were very modest and the voluntary turnover fell by over 35%.

 

In summary, get employees invested in your firm, eliminate the bad bosses and the red tape.

 

Contact Dianne Durkin of Loyalty Factor today for a consultation on how to get your employees excited!


 

Employee Enrichment: The Balanced Wheel of Success

Think about how you handle employee development.  Nothing is more engaging than a person striving to achieve a future goal and knowing they have the confidence and support of management.

 

From mentoring and managing expectations to conducting performance reviews or reaching team objectives, coaching can take many forms.  Regardless of the form it takes, the objective is the same — to positively motivate and enrich employees.

 

Employee enrichment looks at the complete life of employees — not just their work lives. 

 

  • It takes a holistic approach that goes beyond work-life balance.
  • It is what I call the Balanced Wheel of Success.

 

Even for the most successful people, life can sometimes feel overwhelming.  Loyalty Factor’s Balanced Wheel of Success helps them take a deep breath and look at their lives from every perspective. 

 

The wheel centers around Vision and Values. The personal vision and values encourages employees to think about where they are going and what their own guiding principles are.

 

Just by having this discussion, employees know you care, and with that caring comes loyalty, creativity, innovation, responsibility, accountability and trust – all elements of engagement, empowerment and enrichment. 

When people are happy, feel cared for  and have a clear sense of their own vision, purpose and values, it is much easier for them to identify with and support the vision and similar values of the organization. 

 

 

Good leaders provide corporate guidance and individual guidance.

In doing so, they engage people in the corporations success,

and in their own success.

It’s a Win-Win situation!

 

 

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

Info Exchange – Magnetic Leaders: Take these 10 Critical Steps

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 Leadership Excellence, “Magnetic Leaders: Take these 10 Critical Steps” by Dianne Durkin

Durkin’s ‘Ten Critical Steps To Achieving Magnetic Leadership’ featured in February’s issue of Leadership Excellence alongside authors such as Deepak Chopra and Richard Branson.

 

 

 Magnetic Leaders

What do the Leaders of top companies do to create and nurture an inviting workplace that is filled with fully engaged and enthusiastic employees?

 

Below are 10 actions to help achieve this goal:

 

1. Develop your vision. Make sure you have a vision with the purpose and values to make it real. State where you are going clearly.

 

2. Identify your leader type. Knowing who you and what type of leader you are helps you and others identify where, when and how to best behave and act to focus their time and energy to achieve the goals and objectives you set out for them.

 

3. Track your leadership development progress. Keep a leadership log to document what you do and what happens. Review what happens regularly. Reflect on what you are learning and how you are changing.

 

4. Recruit and retain the right people. Identify what makes individuals successful in your culture, and recruit for those skills.

 

5. Engage, empower and enrich your employees. Invite them to become part of your vision. Empower them to be a force of change. Give them a role and the responsibility for implementing solutions to major business issues.

 

6. Create a work environment that fosters creativity and innovation. Go beyond simply improving the physical environment. Focus on how people feel. Evaluate the energy when you walk the floors. Make changes to ensure that the work environment fuels your objectives and helps to achieve your goals.

 

7. Appreciate and reward your employees. Develop and deploy a schedule that regularly and meaningfully rewards employees to create a culture of appreciation.

 

8. Focus on things that inspire your people. Develop and improve the key programs that your people need to stay engaged and loyal. (Training, wellness, etc.)

 

9. Improve the most important things first. Identify your major short comings head-on. Identify what boosts your progress and what holds you back.

 

10. Visualize the future. Define the characteristics of the leader you want to be and what the future looks like for you. Describe how you’ll balance your personal and work life and how you’ll build loyalty and trust.

 

Great leaders lead magnetically by fully engaging and empowering people, transforming them into innovative thinkers and major contributors. Appreciating effort and rewarding results generate loyalty and impact profitability.      

 

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.

Is Engagement Enough?

In the last blog we discussed the benefits of engagement, and how to involve people in the organization.

 

Additional research shows engagement alone is not the answer.

 

Engagement needs to be combined with enablement. So let’s define enablement.

 

Enablement is ensuring employees are aligned with their positions – their roles and responsibilities are clear, concise, well articulated and understood.

 

In addition, enablement means employees need a supportive environment to accomplish their roles and responsibilities. This includes:

 

  • Essential resources to do their job
  • Appropriate guidance and direction
  • Management that recognizes effort and rewards with results, including positive reinforcement of “Good Job,” and “Thank You”
  • Reduced red tape

 

Below are some results from the Journal of Compensation and Benefits.

 

With engagement alone, turnover is 40% lower.

With engagement and enablement,
turnover is 54% lower.

 

 

With engagement an employee is 10% more likely to outperform performance expectations.

With engagement and enablement
they are 50% more likely to outperform performance expectations.

 

A statement to remember:

 

Talent is the engine of the modern organization, and engagement and enablement are the mystery ingredients  that can transform the engine’s output.

 

Take the first step towards engaging your workforce by calling Loyalty Factor at 603-334-3401 to schedule a consult on proven methodologies today!