Why Do You Need "Carrot Secrets

By Lucia Lepe

We do not discuss special attractive benefits worth seven figures or more for economically minded people. We just want to talk about small "carrots" or in other words, recognition of employee achievements. It is those "carrots" that will make it difficult for your employees to leave you. Consider the following: Anyone can give up a good job with

• Language: English
• Publisher: Lucia Lepe
• Release date: Feb 1, 2024
• ISBN: 9798869216205

Book preview

Why Do You Need "Carrot Secrets

Why Do You Need Carrot Secrets

Copyright © 2023 by Lucia Lepe

All rights reserved

TABLE OF CONTENTS

CHAPTER 1 : UNINTENDED CONSEQUENCES OF PUBLIC POLICY

CHAPTER 2 : WITH AN AVERAGE FAMILY INCOME OF ONLY ABOUT $12 PER WEEK

CHAPTER 3 : WHEN CHOOSING GROWTH STOCKS

CHAPTER 4 : THE ZAIBATSU, DUALISM, AND EMPLOYING PEOPLE FOR LIFE

CHAPTER 5 : THE WISE MAN IS NOT A NEGOTIATOR.

CHAPTER 1 : UNINTENDED CONSEQUENCES OF PUBLIC POLICY

Sometimes public policies can go horribly wrong, even when made by the most competent and motivated people. People's reactions may not be as expected, causing the impact of a policy to be opposite to the desired result. Public sector economists call this phenomenon an unintended consequence of public policy. For example, the government can propose a welfare program to give money to the poor. The goal is very noble: to temporarily help the poorest and most vulnerable people in society, to create opportunities for them to lift themselves out of poverty. Unfortunately, such a program, if not properly designed, can reduce the recipient's motivation to self-effort, creating the unintended consequence of long-term dependency on the grant.

Another example is credit subsidies. As above, the goal is very good: to help poor people like small agricultural households or small entrepreneurs in the informal sector get loans to get ahead. Unfortunately, subsidies are limited, so subsidized capital is never enough, and policy beneficiaries may never be able to borrow, at least at subsidized interest rates. People in the line receive all capital to use or re-lend at market interest rates. Poor people often call this low interest rate but cannot borrow.

Faced with new policy proposals, policymakers must try to estimate the possible reactions of individuals, families and businesses, based on the new positive and negative dynamics created. The key thing to remember is that most people will act rationally in their own self-interest. To avoid unwanted consequences of public policy, a policy maker needs to ask: How would I personally react in a similar situation? Was that the expected reaction? If not, the entire policy may need to be revised.

INTRODUCTION

You are holding in your hands a book that has been translated into 15 languages and sold more than 200,000 copies recently by two authors Adrian Gostick and Chester Elton, who are and are successful managers and consultants. in the US thanks to the management philosophy that is becoming their exclusive brand: The Carrot Secret.

Carrots, a vegetable that is almost indispensable in the meals of European and American families. The reason why carrots occupy such an important position on their dining table is because, as most of us know, it is a nutritious food that also contains many essential vitamins that can help the body maintain health. health and intelligence.

If carrots are necessary for everyone, all genders, anytime, anywhere, then so is praise and reward, according to Gostick and Elton. Indeed, a sincere, well-timed compliment can turn an ordinary person into a genius. A satisfactory reward for the right person not only helps you retain good employees but is also an effective lever to increase labor productivity and maintain sustainable development of your company and organization.

With a modern fable and very close and vivid interpretations, Gostick and Elton will show us the true importance of carrots in awakening great dormant potentials. Rest assured among our staff.

Hopefully, this booklet will bring you a new and truly groundbreaking perspective in planning development strategies in the face of the current globalization trend.

- First News

ABOUT THE AUTHORS

Adrian Gostick and Chester Elton, the two Carrot Knights who share the secret of simple but effective employee rewards, have given us a message that can fundamentally change business concepts and methods. How to manage the most valuable resource in every organization: People.

The two men are also co-authors of best-selling and highly acclaimed business books: Managing with Carrots (Managing with rewards), A Carrot A Day (Every day a reward). The two men were ranked among the best-selling authors in the US by the Wall Street Journal and Business Week.

Adrian Gostick

Adrian Gostick was called The originator of employee reward policies by Canada Post. His works were evaluated by the New York Times as new and creative. His books have been translated into 15 languages with hundreds of thousands of copies sold around the world. He is a leading expert in the field of employee reward consulting. Adrian is an expert for USA Today, Investor's Business newspaper and dozens of other business administration publications. His works have also been broadcast on ABC, CNBC and American Radio stations.

He is a journalist who has been awarded many major awards. Currently, Adrian Gostick is the Communications Director of OC Tanner Company, a world-leading employee reward consulting company, and is also a member of the advisory board of Human Capital Strategies and News magazine. Adrian Gostick earned his Master's degree in administration from Seton Hall University, where he was often invited as a visiting professor. You can contact him at: [e-mail]

Chester Elton

Like Adrian Gostick, Chester Elton is always the subject of comments from many newspapers, including the New York Times and the Wall Street Journal. Canada Post also named him The originator of employee reward policies. Larry King, President of CNN, called him an author worth reading. Chester holds the position of Vice President of OC Tanner Company and works together with Adrian. He is a presenter with tens of thousands of audiences from Beijing to Budapest (Hungary), from Singapore to Seattle, and is a famous speaker at forums on human resource management and reward competition. He is a consultant on employee reward policies for many clients of the top 500 companies in the United States. His books are often introduced and quoted on American radio and television programs on the topic of human resource management. His e-mail address: [e-mail]

WHY DO YOU NEED CARROT SECRETS?

Brain drain today has become a problem that many businesses are facing. In North America, even during the worst economic downturn, the average employee turnover rate was 20%, and every company we had the opportunity to contact said that they kept the best employees (the best). is after layoffs) is a very headache. Survey results show that more than 60% of workers do not feel attached to their current workplace and do not intend to stay for more than two years.

It's hard to imagine the cost of losing truly capable employees. Many companies, when trying to do the calculation, were shocked by the huge financial losses. What are the costs of recruitment, training, travel allowances, vocational allowances, insurance, etc. for people who we don't know can do anything for the company or not, or if they leave later? two or three months of probation and left us with a mess. That's not including invisible costs. For example, when a good employee quits, you will lose a shining example and the remaining people will certainly not help but wonder: What's going on? Why did the company lose all such good people?

Of course, many managers tried to reassure that the company's sales were nonetheless very optimistic. We will replace with new people and they will have new ideas. Perhaps this opinion would stand if the people leaving were just incompetent employees. Unfortunately, weak people often don't quit their jobs on their own, but instead are excellent employees, have many creative ideas, or are people who have the ability to attract countless new customers to you. Those are the people who create miracles and only they have the right to choose where to work.

So, how to keep them?

Please apply the Carrot Secret!

We do not discuss special attractive benefits worth seven figures or more for economically minded people. We just want to talk about small carrots or in other words, recognition of employee achievements. It is those carrots that will make it difficult for your employees to leave you. Consider the following: Anyone can give up a good job without regret for a better opportunity. They are willing to give up a new car or a comfortable office to join a company where they can maximize their abilities and be properly recognized.

Daniel Horne, Dean of Marketing at Providence College, said: Having free words or modest rewards can contribute to creating a work environment that many people want to stick with. At the same time, there are also many real and invisible costs that the company must bear when Icon of Gostick & Elton's series of books on the topic of Employee Rewards. A good employee quits their job, especially the consequences that result from their departure.

Yet we rarely see managers proactively thinking about the effectiveness of recognizing employee achievements. What are the results? Consider the following example:

At a mining company in the Northwest, there was a marketing specialist who had only been working for a few months. He is truly a good professional, very creative and has great enthusiasm. But then he decided to leave after just a few short months. We met and talked with him.

This expert admitted that the salary at the new company was not better, he also had to move his whole family to a new place thousands of kilometers away. But in his new workplace, he feels more appreciated. It turned out that was the source of his decision.

We had an internal meeting about an ongoing project, he said. Then, to introduce the project to the public, I tried my best to put it on Oprah's TV show (1) to create buzz and attract public attention. The program was performed perfectly, my big bosses had the opportunity to polish their names and leave extremely good impressions with millions of audiences directly and indirectly through the small screen. Yet not even a single word of thanks was given to me. It seems that acknowledging my efforts is a torture for them!

You see, everything can be different if there is a word of encouragement at the right time!

And this is not an isolated problem. Rick Beal, senior consultant at Watson Wyatt, said: According to a 2000 study, only 24% of leaders view rewards as a tool to recognize achievements and retain their employees. . He added: Although the global economy is slowing down and cost reduction is an urgent need, the scarcity of high-quality labor requires employers to be extremely proactive. and be creative in offering appropriate reward policies if they want to retain good employees.

(1) Oprah Winfrey, the most famous female MC in America today.

At the corporate level, after many years of working with threats and fear of losing their jobs, employees no longer intend to contribute long-term to the company.

And it was a very tough fight indeed. Massive layoffs, layoffs and restructuring of production processes lead to losses in human resources and make the global labor market increasingly hotter. A recent article in the New York Times pointed out that nearly a quarter of workers across the United States have worked themselves to the point of exhaustion. Half of them think their workplace is just a place to listen to shouts and insults. One-third of working people regularly lose sleep because of work pressure.

If in previous times, employees would probably have gone on strike. But today is different, modern philosopher Homer Simpson commented: If they don't like their jobs, they won't strike. But they only work with half productivity!

To improve this situation, you should apply the Carrot Secrets, because they will help you and your employees effectively, both in personal capacity development and for growth goals. company sustainability.

Hopefully when reading this book, you will find excitement and attraction from the taste of carrot, the taste of success!

Adrian Gostick - Chester Elton

STORIES ABOUT THE ART OF MOTIVATION AND REWARDS

1. CAPTAIN VEX'S DARK WEEK

After twenty years of hard work, Vex was finally promoted to station chief. It should have been the proudest, most joyful day of his life. But, instead of bringing a few tubes of sunscreen and traveling to some magical beach, or carefully arranging your officer's uniform in your suitcase to prepare to attend a merit recognition ceremony,