Walton's 10 Rules of Business Success - Rule 5 - Appreciate Everything
It's a great insight by Walton in his rule five of the "10 Rules of Business Success" when he talks about different levels of loyalty. He says it like this:
"Appreciate everything your associates do for the business. A pay check and a stock option will buy one kind of loyalty. But all of us like to be told how much somebody appreciates what we do for them. We like to hear it often and especially when we have done something we're really proud of.
"Nothing else can quite substitute for a well-chosen, well-timed, sincere words of praise. They're absolutely free - and worth a fortune."
The first thing I want to talk about is how he says that "A pay check and a stock option will buy one kind of loyalty." In reality he's being very polite here. If someone works for only that, it is an extremely low level of loyalty - if you can even call it that. A business that has this as their main focus for their people will find that this will also be the main focus of theirs as well.
On the other hand, those that hand out genuine, legitimate encouragement and praise, build within their people a deep loyalty that goes far beyond those that only work for themselves.
What more can be said? It's a matter of doing it, nothing more. The rewards, as walton said, are "worth a fortune." He's telling the truth!
Other Walton Sources:
The Most Underrated CEO Ever The legendary Sam Walton
Sam Walton: The Power of Persistence
Sam Walton Business Quotes for Ya
Remember to Sign up for my feed, bizzbite and digg this!
Sponsored link: The outsourcing every manager requires - Tampa Locksmith
Comment Preview