Bob Nelson, the Guru of Thank You, explained that companies with satisfied employees have a 233% higher return than those without. He also explained that companies with high employee satisfaction achieve a 700% higher investor return. Motivation can be simple. It doesn’t have to be monetary. Something as simple as coffee or soda for employees in the break room can motivate.
One of the key concepts Bob provided listeners was breaking news on BRAINSTORMIN’. He gave advice to employees going for their annual review—change the Power Ratio. Emphasize the achievements you accomplished this year that made the boss look good. Remember, each employee is smart, resourceful and an expert in their job.
To prove his point, Bob used the analogy of Best Buy versus Circuit City. Best Buy valued its employees and strove to make the most of their talents. Circuit City fired their tenured employees to save money. Circuit City is now out of business while Best Buy is the leader in the category.
Listen to the entire interview below: