The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work, by Eric Mosley
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The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work, by Eric Mosley
Read and Download The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work, by Eric Mosley
The most powerful word in your leadership vocabulary is…THANKS!
Building a fully engaged, energized workforce is the key to business success. The Power of Thanks reveals how leading companies like Intuit, JetBlue Airways, IHG, Symantec, ConAgra Foods, and The Hershey Company empower employees through social recognition in which the practice of mutual appreciation and trust directs and rewards higher performance.
Eric Mosley and Derek Irvine, executives at the world-renowned employee recognition firm Globoforce, explain why social recognition is so powerful and how you can apply it in your company. Case by case, they show how a carefully planned and consistently executed Culture of Recognition business strategy inspires:
• Greater employee engagement and loyalty• Stronger, more unified teams and departments• A creative, innovative company culture• Improved customer satisfaction• Increased profitability and organizational health
Mosley and Irvine provide practical advice and proven examples for devising a powerful, growth-generating strategy that modernizes employee recognition for today's social, global, multi-generational, and 24x7-wired workforce.
When employees participate in a culture that makes everyone a stakeholder in the organization's success, positive energy spreads like wildfire, and business results follow. Something so simple and powerful might work like magic, but it's really just common sense. It's smart management. It's long-term thinking.
It's The Power of Thanks.
The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work, by Eric Mosley - Amazon Sales Rank: #300735 in Books
- Brand: Mosley, Eric/ Irvine, Derek/ Young, Kevin (NRT)
- Published on: 2015-03-24
- Formats: Audiobook, MP3 Audio, Unabridged
- Original language: English
- Number of items: 1
- Dimensions: 6.75" h x .50" w x 5.25" l, .15 pounds
- Running time: 7 Hours
- Binding: MP3 CD
The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work, by Eric Mosley From the Inside Flap Employee engagement is the great, untapped resource of most organizations. Yet only 25 percent of employees are truly engaged in their work. Why are all the others so reluctant to "get in the game"?
Winning with a Culture of Recognition: Recognition Strategies at the World's Most Admired Companies reveals the surprising answer: Most managers fail to formally recognize high performance and connect it with company culture. Salary and bonuses are only part of today's employment contract. To get everyone performing together, employers need to create a culture of appreciation, recognition, and reward.
Authors and Globoforce thought leaders, Eric Mosley and Derek Irvine, CEO and Vice President of Client Strategy and Consulting, respectively, look deep inside the root of this problem and provide hands-on steps to help any employer create a culture fostered by strategic recognition, a management practice as different from the old "rewards programs" as Six Sigma is from last century's "quality control."
Mosley and Irvine's proven theories take a practice (recognition and rewards) that has been misused for nearly a century and evolve it into the must-have business strategy to engage employees and manage a company culture in the 21st century. Winning with a Culture of Recognition guides managers and chief executives alike through the psychology of recognition and its effect on performance. Sharing successful methods implemented by clients such as Symantec, Intuit, Dow Chemical, and Amgen, Winning with a Culture of Recognition shows how any manager can create a positive culture of appreciation.
From the Back Cover
PRAISE FOR THE POWER OF THANKS
“Eric and Derek offer practical guidance on how to create a company culture that feeds our true motivators.” -- Daniel H. Pink, New York Times bestselling author of Drive and To Sell is Human
"At work, nothing matters more than being valued and appreciated. By providing a natural way for people to give and receive recognition, the strategies outlined in this book can help HR leaders drive higher levels of engagement and performance." -- Adam Grant, Wharton professor and New York Times bestselling author of Give and Take
"The principles in this book have redefined how Hershey employees interact across the globe every day. There is immense power in a thank you and well done. Social recognition is not a 'nice-to-have'. . . it is part of a winning, vibrant culture that will help deliver sustainable performance and outstanding results." -- Kevin Walling, SVP, Chief Human Resources Officer, The Hershey Company
"Perfect guide for business leaders in positively tapping the talents of their associates, especially during stressful, turbulent times." -- Steve Forbes, chairman and editor-in-chief of Forbes Media and bestselling author of Money
"The Power of Thanks isn't just a book. It's a greater movement driven by social recognition to show your people how truly important they are to the mission of a company. It’s helped us 'lift' our crewmembers to higher levels of performance and engagement by recognizing the most important pieces of our culture: our values and people." -- Michael Elliott, SVP of People, JetBlue Airways
"Recognition is something we all crave on the inside. When it’s done effectively, in the ways Eric and Derek articulate, it resonates on the outside, driving positive change and moving organizations to enviable levels of success." -- Marshall Goldsmith, author of the New York Times bestseller What Got You Here Won't Get You There
About the Author Eric Mosley is CEO of Globoforce, where he helps companies build strong cultures of engaged employees by taking a modern, more strategic approach to recognition. Today, Globoforce is trusted by some of the most admired companies in the world to inspire and energize employees and create best places to work. He is the author of The Crowdsourced Performance Review.
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Most helpful customer reviews
4 of 5 people found the following review helpful. How to Use the Power of Thanks and Social Recognition to Create a Company and Culture Worth Working For By L. M. Keefer Glassdoor finds that 90% of employees would leave their current job if offered a position with an organization which has an excellent reputation. Bain found that only 15% of companies have high performing cultures. 70% of employees are disengaged at work stats indicate. The #1 reason people leave a job after compensation issues: they feel they are not recognized or valued research shows says this book.How to remedy these statistics? Try social recognition suggest authors Eric Mosley and Derek Irvine, CEO and VP respectively of Globoforce, who have built a company around the power of thanks. Globoforce is a Fortune Top 25 Best Place to Work. Most good companies do strategy, quality control and operations well say these authors. But if you ask a CEO to tell you about their recognition strategy, be prepared for them to come up short they claim. This makes social recognition a huge competitive advantage. Why? Because social recognition positively and concretely affects the bottom line. If your company uses social recognition strategically, and your competitors don't, you can surpass them in sales, employee satisfaction, quality, customer service and ultimately profits.What gives social recognition its huge power? As defined by this book, social recognition is "a set of practices which manage company culture." And, in the words of business guru Peter Drucker quoted in this book: "Culture eats strategy for breakfast."It has been quantitatively proven that a culture of recognition and positivity motivates high performance, increases morale, helps to retain high-performing employees, lowers absenteeism, lowers accidents and safety violations, raises profits, identifies hidden talent and influencers, promotes right behaviors and the list goes on. Social recognition also helps to create engaged workers.Consider these statistics on engaged employees from Gallup's 2013 Global Workplace Report as referenced in this book:Workplaces which have engaged workers are 21% more productive, 22% more profitable, have 41% higher quality, have 48% fewer safety violations, less 37% absenteeism, and 10% higher customer service satisfaction. Fortune 100 Best Places to Work companies have 50-65% less turnover than average. The authors do the math: in a 10,000 employee company, it's possible to reduce the costs associated with turnover (typically 50-150% of a yearly salary) from $41 million to just $4 million a year using social recognition. Employee satisfaction has also proven to correlate with higher shareholder returns.Of course, to achieve these kinds of results, social recognition is much more than an occasional thank you and pat on the back. It needs to be strategic, monitored, branded within the company, rolled out from the top, designed to reward action based upon the company's core values, and marketed within the company among other things. The authors lay out a comprehensive, actionable blueprint for companies to follow within the book. The blueprint covers five areas: sponsorship, design, reach, adoption and rewards. I found this the most fascinating part of the book, along with the Pocket Summary of Best Practices. If you already believe in the power of thanks and recognition, you may wish to go directly to this section.Having directed a 75-employee private company, I can see how this would have been effective - not to mention fun - in improving the company. What's valuable about this blueprint is that the authors at Globoforce have already tested this program with their own company, and clients' companies, to determine what works and what needs to be tweaked. This helps to guarantee the success of the program for your company."It's about the praise and not the prize," is a maxim of social recognition. As stats show that employees are 3X as likely to quit in the next 12 months if they don't feel recognized, one sees how imperative heartfelt and sincere praise from a boss or co-worker is. That's another cool part of the program - co-workers can recognize each other in this program. Gratitude and rewards are crowd-sourced. Peer-to-peer recognition is a vital part, and helps to build and spread the culture of positivity. There are small and middling cash prizes, and access to gift cards, to give out on a regular basis, to accompany the praise.Social recognition impacts employee engagement - a 15% increase in engagement results in 2% increase in operating margins. One percentage point increase in engagement leads to .6 percent growth in sales stats show. Social recognition is a data-driven model for proactively managing culture say the authors. They quote the definition of culture from Herb Kelleher of Southwest Airlines: "Culture is what you do when people aren't looking."The data derived from the program, in a data visualization application, can help to measure what is most important to the company, and can inform other areas which companies monitor. If you have a 53,000 employee company in 140 countries with 34 currencies like Bechtel does, a social recognition program also helps to unify the company, the culture and the rewards suggest the authors.This is an important book for anyone in business. The power which social recognition unleashes in a company is a multiple of the small cash rewards and recognition given out. We all have felt the power of sincere praise in our lives for work well done from people whom we respect. Imagine if that praise were given out for our best efforts more regularly, and supported by a company program, by the folks who work with us. Additionally, the thanks would be accompanied by a small cash prize or gift card to take our spouse to dinner, or go to a spa. It would increase the fun factor at work. Wouldn't that be a place we would want to continue to work for? This program creates a company of givers of whom Adam Grant, in his life-changing book GIVE AND TAKE, found were usually at the top of a success ladder. Grant says about this book, ""At work, nothing matters more than being valued and appreciated. By providing a natural way for people to give and receive recognition, the strategies outlined in this book can help HR leaders drive higher levels of engagement and performance." -- Adam Grant, Wharton professor and New York Times bestselling author.
2 of 3 people found the following review helpful. Valuable Insights about Employee Recognition By John Chancellor Employee recognition is one of the most valuable tools a company can employ to engage its workforce. While saying “Thank You” is a good first step, it is not sufficient.Eric Mosley and Derek Irvine, authors of The Power of Thanks – How Social Recognition Empowers Employees and Creates a Best Place to Work, have written a valuable resource for CEOs and HR heads that truly want to experience the Power of Thanks.The authors start with a strong premise, “At the heart of great corporate successes and failures is a single observable phenomenon: the behaviors and values that constitute a company’s culture largely determine its fate.” Is your company’s culture one of thanks?The book is divided into three parts. Part one deals with “Understanding Organizational Culture”. Part two focuses on “Understanding Social Recognition” and Part three covers “Putting Social Recognition into Practice.”Why is The Power of Thanks important? “Bain & Company in 2006 found that only 15 percent of companies had a high performance culture.” “A Globeforce 2012 survey found that 83% of employees departing a company rated culture as important in looking for new job; only 45% of departing employees feel their old company had a positive culture.”So while most CEOs and HR heads acknowledge the importance of corporate culture and employee engagement, clearly there is some disconnect that results in the poor numbers that are shown in study after study on employee engagement.Mosley is the CEO of Globoforce and Irvine is VP of Client Strategy. Globoforce is a world-renowned firm specializing in employee recognition. The firm has an impressive list of clients that have benefited from their work.The authors write in business conversational style, using plenty of examples from their client companies as well as citing numerous surveys and studies. There are valuable insights to be gained from what has worked and why it worked.There are some valuable checklist in Part 3, including “Eight fatal signs of a poor recognition program”, “A guide to recognition moments” and “A pocket summary of best practices.” There are also many “Mythbuster” highlighted text boxes where the authors dispel some popular myths about employee recognition.With the product/service difference becoming more and more difficult to maintain, the most competitive advantage a company can have is its employees. But just hiring the best and the brightest will not translate into a competitive advantage. You need the right culture. You need employees that are engaged and feel appreciated. You must cultivate the culture. It does not happen without strategic management. This book is an excellent guide to help CEOs and HR heads understand and implement a culture of recognition.I was provided a review copy of this book.
2 of 3 people found the following review helpful. Exceptionally interesting By Autamme_dot_com One little word has the capability to create great things and its lack of use can destroy so much too. No, it is not “love” but it is something that is more simple, more powerful and more universal and we don’t always consider its significance – “thanks”.With that word, the authors seek to show how its use can engage and energise your workforce and that can have a direct impact on its bottom-line. It is a lot more than a faux certificate, routinely issued to show what a “great job you’ve done” though. Noting that employees can be empowered through social recognition and mutual appreciation, which leads to higher performance throughout the enterprise, there is a way to harness this power.It is common sense, it is argued, creating a culture which makes everyone share in the company’s success in one way or another, as the positivity will spread wide and far. It does not need to just be based on monetary rewards either. Appreciation, acknowledgement and the use of the word “thanks” can make a difference, it is argued.What’s more, you don’t need to be a major multinational company to do this either. The book is thoughtfully written, merging practical experiences from many of America’s top companies with academic research to bring the core and fundamental arguments into direct focus.One of the strongest takeaway points is something that should be seen by so-called managers and leaders daily: “The mediocre manager likes to think that his or her employees should be grateful to have a job. Perhaps they are, but that attitude has culture management backward. In a well-run company, the organization and the individual manager acting on its behalf harness the power of appreciation not by receiving it, but by giving it to the employees,” note the authors.What quality management is to be found within companies in the United States? One can safely extrapolate that this problem is not unique to one country either: it can be even worse. “More than half (53 percent) of those surveyed say their boss is dishonest, and the same amount say their boss is unfair, according to a survey by the Adecco Group. Others described bosses as impatient (58 percent), disloyal (66 percent), and lacking motivational skills (76 percent). These numbers are staggering, given that nearly all (89 percent) say that the employee/boss relationship is one of the most important links to job satisfaction,” notes the book.Yes, read that again. Read that a third time. There is a word used in military circles that begins with a “C” and ends with a “K” that you might not use in polite company, but it perfectly describes how far too many companies are functioning. Of course, at times when the economy is performing poorly, far too many bad managers just think their wage slaves should be glad to be in employment. Yet they are often the same managers who bemoan the difficulty of attracting and retaining great talent when times are better and demand outstrips supply.If this book’s central message doesn’t wake you up with a jolt you are either a) smug since your company already is doing this stuff and reaping its rewards or b) you (and possibly your company) is beyond help and you’d be better off giving up any pretence of leadership and would have trouble leading a dog on a leash.Yet again, to labour the point, it is not about the money either. The authors demolish this argument well. A USD100 reward paid with your pay cheque is nice but it will get lost in the noise and probably get used for household expenses. A USD100 gift card that could be used at a restaurant costs the company the same (it might be even cheaper!) and yet it can give a LOT greater, deeper connection to the recipient.This book looks at more than “just” how we thank or don’t thank our employees. It considers motivation, work-life balance, modern-day expectations and even the whole working “day”. It is a thoroughly engaging, thought-out, actionable and direct book that cannot fail to give a lot if you just dare open its pages.
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