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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Adrian Gostick and Chester Elton's book: "The Carrot Principle: How the Best Managers Use Recognition to Engage Their People, Retain Talent, and Accelerate Performance".
This complete summary of the ideas from Adrian Gostick and Chester Elton's book "The Carrot Principle" presents the results of a study on workplace productivity. This study has shown there are tangible and quantifiable financial benefits to be derived from giving people recognition for their achievements that is separate and distinct from what they are paid. Developing a culture of recognition seems to act like an accelerant, taking a team from where it is now to where it can be in the future in terms of performance. In their book, the authors explain that in order to build your own high performance team, company or even personal career, you should learn how to thank the people you work with more effectively.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The Carrot Principle" and find out why you should follow in the footsteps of the greatest managers and lead with carrots, not sticks.
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Seitenzahl: 32
Veröffentlichungsjahr: 2014
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Book Presentation: The Carrot Principle by Adrian Gostick and Chester Elton1
Book Abstract
About the Author
Important Note About This Ebook
Summary of The Carrot Principle (Adrian Gostick and Chester Elton)4
Recognition as an Accelerant of Business Performance
The Basic Building Blocks of a “Carrot Culture”
Book Presentation: The Carrot Principle by Adrian Gostick and Chester Elton
Book Abstract
Main Idea
In a study of workplace productivity which involved looking at 200,000 managers and employees over a 10-year period, it was found:
Organizations which had a culture of recognizing personal achievement generated an average return on equity of 8.7-percent while comparable firms in every other way typically generated an average return on equity of 2.4-percent.The teams and offices where people felt their contributions were recognized typically placed in the top scores for customer satisfaction as well as for employee satisfaction and staff retention.More than 94-percent of the people who report having high morale at work are employed in workplaces where managers are effective at recognition.In all, this study has shown there are tangible and quantifiable financial benefits to be derived from giving people recognition for their achievements separate and distinct from what they are paid. Developing a culture of recognition seems to act like an accelerant, taking a team from where it is now to where it can be in the future in terms of performance.
To build your own high performance team, company or even personal career, learn how to thank the people you work with more effectively. There is a definite statistical correlation between how effectively you do this and how much you will achieve.
About the Author
ADRIAN GOSTICK is managing director of The Carrot Culture Group, a consulting company which works with companies to develop effective employee recognition programs. Mr. Gostick, a graduate of Seton Hall University, has appeared as an employee motivation expert on a number of network television programs. He also serves as a guest lecturer at Seton Hall University. Mr. Gostick is the author of several books including The Invisible Employee, A Carrot a Day and The 24-Carrot Manager.
CHESTER ELTON is vice president of performance recognition with the O.C. Tanner Recognition Company. He has served as a recognition consultant to several Fortune 500 companies and is a highly acclaimed public speaker. His work has been featured on CNN, NBC and National Public Radio as well as the Wall Street Journal, Washington Post and Fast Company magazine. Mr. Elton was co-author of The Invisible Employee, A Carrot a Day and The 24-Carrot Manager.
The Web site for this book is atwww.carrots.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of The Carrot Principle (Adrian Gostick and Chester Elton)
Recognition as an Accelerant of Business Performance
Before recognition can effectively act as an accelerant of business performance, a foundation needs to be in place. In practical terms, this means managers need to be seen as being strong in the “Big Four” areas of leadership:
Goal settingCommunicationTrustAccountabilityThe good news is that even when a manager is just merely competent with these Big Four, the addition of effective recognition will see management effectiveness soar. Great management is born whenever recognition is added to the other characteristics of leadership.
There are four basic building blocks which effective managers need to be good at if they are to succeed:
1. Goal-Setting
Effective leaders give their workers clear and unambiguous direction. They specify what is valued and worth pursuing and what has only marginal value. Great leaders infuse their employee’s work with a clear and vivid sense of purpose.
