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.
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.