Tag Archives: Managing Change

Info Exchange – The Value of Loyalty

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 Loyalty Factor President Dianne Durkin’s insights on the value of building loyalty within your organization as well as your personal and professional lives.  

 

The Value of Loyalty

Over the years I have spoken a lot about loyalty in the corporate world. Today I want to speak about loyalty on a personal level.

 

Loyalty is one of those qualities that people admire most in others. People value it more than almost any other quality. They try to teach it to their children and emphasize it to their staffs. They also try to gauge it when deciding on business and personal relationships.

 

Much like the word integrity, loyalty is something many people throw about freely. There is no doubt loyalty lets people know where you stand. At the same time it requires that you speak truthfully to the people and organizations to which you are loyal. Loyalty requires honesty. In business or in personal relationships, loyalty is indispensable.

 

When asked why people stay loyal, many answer, “It’s the belief”. Belief and loyalty make a huge combination – belief in the person, belief in the individual, belief in the company, and belief that the loyalty will pay off in the long-term. Unfortunately, we live in a world with increasing short sightedness and this affects our loyalty.

 

Each time we are loyal and judicious, loyal and not fanatical, loyal while understanding the road to be taken, loyal without offending others, we reinforce one of the pillars and one of the most admired attributes in ourselves and others – LOYALTY.

 

For more information on how to build the Employee Loyalty, Customer Loyalty, Personal Loyalty and/or Brand Loyalty in your personal and professional relationships as we head into the New Year, contact Dianne Durkin at (603) 334-3401 or email her at [email protected].

 

In her keynote on “Managing Change” Dianne Durkin highlights the value of risk in creating successful opportunities.

Info Exchange – The Inspiring Leader

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

Our information exchange this week highlights the book “The Inspiring Leader: Unlocking the Secrets of How Extraordinary Leaders Motivate,” by John Zenger, Joseph Folkman and Scott Edinger.  

  Unlocking the Secrets of How
Extraordinary Leaders Motivate

Research shows that inspiration is the most powerful of all leadership competencies. It is the best predictor of overall ratings or leadership effectiveness by direct reports, peers and managers. It is the quality most valued by employees and the factor most correlated with employee commitment and satisfaction.

 

The Inspiring Leader reveals numerous principles and behaviors top leaders use to build an emotional connection between themselves and their teams.

 

Below are 6 things to do to become an inspiring leader: 

  1. Inspire and Motivate with Energy and Enthusiasm. Researchers found that leaders with these qualities tend to have direct reports who are more satisfied and committed overall. Such leaders are also better able to retain employees, especially their highly committed employees.
     
  2. Create a Vision and Provide Clear Direction. The importance of a clear, concise and compelling vision and direction cannot be overstated. This is not a “solo” activity for the leader. Nor does this need to be for an entire corporation. Senior and middle managers from cross functional areas can do this quite effectively. The vision combines a strong statement of the guiding principles that shape the organization with a vivid picture of what the organization aspires to be in the next few years.
     
  3. Set Stretch Personal Goals. Extraordinary leaders recognize their strengths and their areas for development. Many books recommend leaders work on their areas for development. The problem with this approach is that typically people are not interested in or passionate about their weaknesses and therefore they don’t improve much. The key for improvement is passion. Working on an area that you are interested in creates a much higher probability of success.
     
  4. Be a Good Communicator. Research shows that inspirational leaders: 1) Seek opportunities to communicate, 2) Expand the volume and frequency of communication, and 3) Communicate passion and enthusiasm.
     
  5. Create Positive Development Experiences for the Team. To develop subordinates, inspirational leaders: 1) Give coaching, 2) Provide actionable feedback, 3) Delegate in a manner that develops people, 4) Structure the job with development as the objective, and 5) Make developmental experiences available (classes, courses, trips, site visits and benchmarking opportunities.)
     
  6. Develop a Collaborative Culture. The culture has to become one of putting the organization’s and the team’s interests higher than anyone’s self interest, no matter how senior the person is in the organization. Ideas and proposals have to be evaluated on their merits, not on the role power or position that their proponent holds in the organization.

In summary, when the right environment is created and combined with the expectation that everyone will contribute to the innovation process, then a steady stream of good ideas for new products, services, marketing techniques and ways to better manage the business come forth on a regular basis.