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    The Carrot Principle (Review and Analysis of Gostick and Elton's Book)
    The Carrot Principle (Review and Analysis of Gostick and Elton's Book)
    The Carrot Principle (Review and Analysis of Gostick and Elton's Book)
    Ebook38 pages34 minutes

    The Carrot Principle (Review and Analysis of Gostick and Elton's Book)

    By BusinessNews Publishing

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    About this ebook

    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.
    LanguageEnglish
    PublisherBusiness Book Summaries
    Release dateNov 12, 2014
    ISBN9782511021606
    The Carrot Principle (Review and Analysis of Gostick and Elton's Book)

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      Book preview

      The Carrot Principle (Review and Analysis of Gostick and Elton's Book) - BusinessNews Publishing

      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 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

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