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The Carrot Principle — How the Best Managers Use Recognition to Engage Their Employees, Retain Talent and Drive Performance

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Join Halogen Software for an inspiring webcast from renowned author and engagement expert Chester Elton and learn how fostering a recognition culture can motivate your employees and drive business …

Join Halogen Software for an inspiring webcast from renowned author and engagement expert Chester Elton and learn how fostering a recognition culture can motivate your employees and drive business results for your organization. Based on his runaway New York Times best-seller The Carrot Principle, Elton will reveal the groundbreaking results of one of the most in-depth management studies ever undertaken.

This breakthrough 10-year study of 200,000 people found dramatically greater business results when managers offered constructive praise and meaningful rewards in ways that powerfully motivated employees to excel.

Drawing on case studies from leading companies, Elton will share how the transformative power of purpose-based recognition produces astonishing increases in operating results, such as higher productivity, engagement, retention, and customer satisfaction.

This presentation introduces the simple steps to become a Carrot Principle manager and to build a recognition culture in your organization. You’ll also hear about how this culture can be enabled by a best practices-based talent management system that supports better business results.


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  • 1. The Carrot Principle — How the Best Managers Use Recognition to Engage Their Employees, Retain Talent and Drive Performance You can listen to today’s webinar using your computer’s speakers or you may dial into the teleconference. If you would like to join the teleconference, please dial 1.650.479.3208 and enter access code: 920 643 065 #. You will be on hold until the seminar begins. #TMwebinar
  • 2. The Carrot Principle — How the Best Managers Use Recognition to Engage Their Employees, Retain Talent and Drive Performance Speaker: Chester Elton Author The Carrot Principle Moderator: Connie Costigan Director, Marketing & Communications Halogen Software #TMwebinar
  • 3. Tools You Can Use• Q&A – Click on the Q&A icon on your floating toolbar in the top of your screen. – Type in your question in the space at the bottom. – Click on “Send.” #TMwebinar
  • 4. Tools You Can Use• Polling – Polling question will appear in the “Polling” panel. – Select your response and click on “Submit.” #TMwebinar
  • 5. Frequently Asked Questions1. Will I receive a copy of the slides after the webinar? YES2. Will I receive a copy of the recording after the webinar? YES Please allow up to 2 business days to receive these materials. #TMwebinar
  • 6. The Carrot Principle — How the Best Managers Use Recognition to Engage Their Employees, Retain Talent and Drive Performance Connie Costigan Director, Marketing & Communications Halogen Software #TMwebinar
  • 7. The Carrot Principle — How the Best Managers Use Recognition to Engage Their Employees, Retain Talent and Drive Performance Chester Elton Author The Carrot Principle #TMwebinar
  • 8. © 2011 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
  • 9. How recognitionACCELERATES employee engagement, retention and performancewith Chester Elton
  • 10. Who here hasworked for a GREAT leader?
  • 11. So, what are thecharacteristics of a good leader?
  • 12. The Basic Four
  • 13. The Basic Four• Goal Setting• Communication• Trust•Accountability
  • 14. Accountability“At first, I think our employees found it hard to believethis was all really happening. Seeing managers beingheld accountable for employee satisfaction, budgets andtraining and development is helping to strengthen ourorganizations employee accountability and to boostoverall morale.”Tim Mulligan, Chief Human Resources Officer
  • 15. A Crisis in BusinessFinding and Engagingthe best people
  • 16. WhyEngagement ?
  • 17. Managers who ignore their employeeshave 2% engaged employees and 40%actively disengaged.“BAF has transformed employee performancemanagement from a once a year chore to an ongoing,year-round process. Managers now provide regularfeedback and coaching to employees. This has beeninstrumental in transforming our entire culture.”Melanie Rydalch, Regional HR Manager
  • 18. The Basic Four• Goal Setting• Communication• Trust•Accountability
  • 19. GoalsGoal Setting that helps set expectations“Having employee goals clearly and objectively laid out and theability to track their progress in real time ensures that there areno surprises during the performance conversation betweenmanager and employee. Employees know what is expected ofthem and this makes them accountable and the systembecomes transparent. This has enabled the Bank to increaseemployee engagement in the process.”Laura Van Well, HR Officer
  • 20. Employee Engagement: Goal Setting100% 91% 90% 80% 68% 70% 70% 60% 50% 40% 40% 30% 20% 10% 0% Goal Setting:  Goal Setting:  High Favorable Opinion Low Favorable Opinion 20 Recognition: Strong Recognition: Weak
  • 21. Employee Engagement: Communication100% 92% 90% 80% 68% 69% 70% 60% 50% 39% 40% 30% 20% 10% 0% Communication:  Communication:  High Favorable Opinion Low Favorable Opinion 21 Recognition: Strong Recognition: Weak
  • 22. Employee Engagement: Trust100% 91% 90% 80% 70% 65% 63% 60% 50% 40% 35% 30% 20% 10% 0% Trust:  Trust:  High Favorable Opinion Low Favorable Opinion 22 Recognition: Strong Recognition: Weak
  • 23. Employee Engagement: Accountability100% 91% 90% 80% 70% 70% 65% 60% 50% 38% 40% 30% 20% 10% 0% Accountability:  Accountability:  High Favorable Opinion Low Favorable Opinion 23 Recognition: Strong Recognition: Weak
  • 24. WhyEngagement?
  • 25. Engagement = GROWTH
  • 26. Operating IncomeGrowth withvsWithout engagement
  • 27. Best Buy: a 0.1% increase in employeeengagement at a store equals a $100,000 increase in the store’s annual operating income. Harvard Business Review October 2010
  • 28. What Drives EmployeeEngagement?
  • 29. Percent of Employees “Completely  Satisfied” With Their Jobs By Level of Recognition
  • 30. Percent With “Very High” Desire To Work For Their Employer “One Year” From Now By Level of Recognition
  • 31. Percent of Employees Who Are “Highly Engaged” by Level of Recognition
  • 32. Top drivers of engagementAppreciation Opportunity & Well-Being EmployeeCommunication Trust EngagementGoal-setting / Pride inAccountability Symbol
  • 33. Opportunity Develop for the future and employees will be more engaged today!“Turnover rates decreased from 20 per cent to 4 per cent. Peoplefeel really good about what they do and what they contributeknowing there are a lot of different promotions and leadership rolesthat have evolved through our leadership development program,which is part of our performance management and careerdevelopment approach. 64 per cent of the companys leadershippositions are now held by individuals promoted from within.”Michelle Reid, HR Manager
  • 34. A Crisis in Business 65% of Workers are looking around says survey Responses from 14,000 workers reveal that many areweighing their options– and employers haven’t caught on.
  • 35. Research-Based • One of largest workplace surveys ever conducted • Focus groups • Interviews
  • 36. HowLARGEwas thestudy?
  • 37. The Carrot Principle • 10-year study of 200,000 people • 20-year study of 10,000 people • 10,000-year study of 20 people • Half-hour study of “The Office”
  • 38. The Carrot Principle • 10-year study of 200,000 people
  • 39. Ah, the Power of a Carrot• Higher retention, of your good people• Greater, sustained productivity• Stronger, more committed employees• Allows managers to communicate a powerful, lasting way• And PROFIT!
  • 40. Ah, the Power of a Carrot• It communicates what matters most to your organization
  • 41. Appreciate the Family
  • 42. Personal Recognition a Coach
  • 43. Personal Recognition
  • 44. What Differentiates Your Organization?
  • 45. How Do YouMeasureSuccess?
  • 46. Why Employee Engagement? Fortune 100 Best vs Stock Market 7 year Cumulative Return• Companies with higher employee 133.8% engagement deliver higher returns than their peers 72.9%• 100 Best Companies with highly engaged 25.2% employees have Annual List of consistently 100 Best Companies outperformed major stock indices. Stock Market Index Fortune 100 Best Source: Frank Russell Company 49
  • 47. The Fortune 100 Best“As for recognition it is probably the fattest pitch that managers miss. Telling employees they are doing a great job costs nothing but counts big And it is so easy to do more” Fortune Magazine 100 Best Companies issue 50
  • 48. Work Environment =How People Feel on the Job
  • 49. At Work25% Driven to tears by stress50% Place of “verbal abuse” and“yelling”30% Unrealistic deadlines52% 12 hour days1 in 12 complain “chair hurts my butt” NY TIMES
  • 50. People join organizations They leave people!
  • 51. According to research, whatpercent of workers cite “lack ofacknowledgement” as their top work issue?A. 88%B. 67%C. 44%D. Eleventy-one%
  • 52. According to research, whatpercent of workers cite “lack ofacknowledgement” as their top work issue? A. 88%
  • 53. Why People Leave a Manager? ☛ 79% leave due toA. A fear of alien abductionB. Unwashed “restroom” handsC. Body piercing policiesD. A lack of appreciation Society for Human Resource Management (SHRM) survey
  • 54. Why People Leave a Manager? ☛ 79% leave due toD. A lack of appreciation Society for Human Resource Management (SHRM) survey
  • 55. But there aretoxic Managers. What happens when we follow them…?
  • 56. That’sTurnover!
  • 57. Why People Stay With a ManagerRecognition and Praise correlated with: • Higher Retention • Higher Productivity • Higher Customer Satisfaction • Higher Profits
  • 58. Wisdom from your momThis is stuff mom taught you
  • 59. Wisdom from your MUM!This is stuff MUM taught you
  • 60. Recognition Basics • Frequent • Specific • Timely
  • 61. Married? Madly in LOVE?
  • 62. GeneralPraise has NO impact.
  • 63. Praise vs. RewardsDo you know how to ride a bike?
  • 64. Praise vs. Rewards• Praise Effort• Reward Results
  • 65. Reward RESULTS!
  • 66. Reward RESULTS!
  • 67. Reward RESULTS!
  • 68. Reward RESULTS!
  • 69. Wisdom from the Carrot Patch• Create informal recognition moments
  • 70. Informal /Seeds• Letter of praise to family • Box of chocolate bars• Do least favorite task • Half day off to spend w/ kids• Remember special days • Scrapbook of memories• Wash car • Tickets to movie, play,• Parking space for a week game • Recognition box• Hand Written Note • Friday inspirational movie• Cup of coffee • A pat on the back
  • 71. Not a slap to the Head!
  • 72. People may forget what yousaid or even what you did,but they never forget the way you made them feel .
  • 73. Wisdom from the Carrot Patch Make powerful presentations!
  • 74. When it comes to recognition, Presentation is everything!
  • 75. Presentation Objectives1. Show sincere thanks2. Reinforce organizational values3. Set the standard of Excellence4. Motivate
  • 76. Dos & Don’ts…
  • 77. Add Impact to FormalVIP• VALUE• IMPACT• PERSON
  • 78. Anybody Know the bestAmerican soccer player in the world? Clint Dempsey
  • 79. Add Impact to FormalVIP• VALUE• IMPACT• PERSON
  • 80. And Recipients Will Go Wild!
  • 81. Informal /Seeds• Letter of praise to family • Box of chocolate bars• Do least favorite task • Half day off to spend w/ kids• Remember special days • Scrapbook of memories• Wash car • Tickets to movie, play,• Parking space for a week game • Recognition box• Hand Written Note • Friday inspirational movie• Cup of coffee • A pat on the back
  • 82. Vegephobia Why People Don’t Recognize• Don’t want to get familiar• I never got any recognition!• What’s in it for me?• Don’t have time• Don’t want to play favorites• They will ask for more money!
  • 83. VegephobiaWhy Managers Don’t RecognizeNot in this economy!
  • 84. What can youdo tomorrow?
  • 85. You Know how!• Verbal Praise• Thank You Notes• Frequent Specific Timely• Praise Effort / Reward Results• Better presentations / VIP
  • 86. Do this atHOME!It works there too
  • 87. Ah, the Power of a Carrot• Higher retention, of your good people• Greater, sustained productivity• Stronger, more committed employees• Allows managers to communicate a powerful, lasting way• And PROFIT!
  • 88. Are YouCommitted?
  • 89. Thank You!chester@chesterelton.com @chesterelton
  • 90. Q&AAdditional questions regarding the content from this webinar? Contact: Chester Elton - chester@chesterelton.com www.chesterelton.comFor additional Halogen Software inquiries or to request a personalizeddemonstration, contact: Connie Costigan- ccostigan@halogensoftware.com www.halogensoftware.com
  • 91. Join Our Next TM WebinarSupport Your Business Better: HRCompetencies for 2013 and Beyond Thursday, November 29, 2012 •TM Webinars start at 2 p.m. Eastern / 11 a.m. Pacific Register for upcoming TM Webinars at www.talentmgt.com/eventsJoin the Talent Management magazine Network http://network.talentmgt.com/ #TMwebinar