Poking through 11+ years of posts I find information that’s as useful now as when it was written.

Golden Oldies is a collection of the most relevant and timeless posts during that time.

Engagement is way down, jobs are plentiful, turnover is way up, and managers aren’t just searching for solutions.

No, what they really want to find is a silver bullet; a Harry Potter magic wand they can wave to promote engagement, hike productivity, juice creativity and sustain the whole thing.

But as we all know, silver bullets and magic wands are in extremely short supply.

That said, VSI, as explained below, comes pretty close.

Read other Golden Oldies here.

How do you lead/influence/motivate/get/force others to move in the direction you choose or achieve a goal, large or small, that you set? That question is the basis for yards of books and megabytes of content, but in spite of all that’s already been written I thought I’d add my bit to the total.

After all, responding to this question is almost a right of passage in the land of leadership and motivation.

So here’s my two-word answer: vested self-interest (VSI).

Over the years, I’ve found vested self-interest to be not only the most powerful people motivator around, but also one of the least expensive, since the cost is mainly from the effort to learn what it is for each person.

And the idea must have merit when you consider that a Sudanese cell phone billionaire is using it to incentivize African heads of state to act responsibly.

In that case, the incentive was money, but that’s not always the case. If it were, then companies wouldn’t lose talent to other companies offering the same or even lower pay.

It’s an error to always assume that dollars will do it, or that what turns on one, turns on all. Hot buttons are as individual as your people are and don’t always involve tangibles.

As a manager, it’s up to you to discover each of your people’s hot buttons, i.e., what really turns them on, and then find a way to satisfy it in return for what you want in performance, innovation, etc.

Taking the time to learn what the buttons are allows you to power your team as never before, which, in turn, should give you the ability to satisfy your own VSI.

Remembering that generalities are always dangerous, here are some of the most common hot buttons

• • public recognition – not just for big things, but for the small, everyday wins that fill most people’s working lives;
  • strokes – a few words here, a compliment there, doesn’t take much time, but be warned, people aren’t stupid, if your comments are lip-service only they will know and respond accordingly;
  • giving back – supported or encouraged volunteer programs, leave day banks, etc.;
  • making a difference – internally and/or externally; and
  • growing/stretching – the opportunity to do something new, learn new skills, etc.

Obviously, money is still a motivator, but it’s not always big bucks, it’s more that the amount is relevant to the accomplishment and logical relative to the company’s circumstances.

And it doesn’t need to be “new” money, it can be a different way to cut a current pie. For example, I get many queries from senior execs asking for exotic approaches and detailed how-to’s for implementing cultural and other intangible changes that often require encouraging (and at times, coercing) their managerial staff into actually doing them.

The most successful method I’ve found is as simple as one, two, three.

1. 1. Carefully define, in a quantifiable manner, what you want done (not “increase retention,” but “reduce turnover X% by [date]”).
   2. Include these well-quantified goals in the managers’ annual objectives. (This is not a variation of MBO.)
   3. Make it clear to your managers that they will be evaluated on these goals and that the evaluation will impact their annual reviews and compensation.

Vested self-interest should do the rest

And as any parent can tell you, VSI works great on kids, too — or anyone, for that matter.

Image credit: Quotes Everlasting

This entry was posted on Monday, March 11th, 2019 at 10:45 am and is filed under Culture, Golden Oldies, Motivation, Retention. You can follow any responses to this entry through the RSS 2.0 feed.
Tags: management approach, motivate, retention and jim, silver bullet
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