41 Cent Leadership – Take a quarter, dime, nickel, and penny and place them in your pocket everyday. Your goal is to extend genuine appreciation to individuals around you at least 4 times everyday. Each time you do, transfer a coin. Those coins remind us of two things – the importance of appreciation and the tremendous diversity in our teams.
You’ve got the 4 coins in your pocket – the quarter, dime, nickel, and penny. They are there to remind you to genuinely appreciate your people daily! They are always reminding you of the tremendous diversity you have in the people around you! Today consider this …
Marcus Buckingham and Curt Coffman, in their book First Break All the Rules, describe a talent as any recurring pattern that can be used for good. I absolutely love the definition. It opens up a world of consideration when looking at ourselves and our teams. We are talented people. We are wired in certain ways that can produce incredibly positive outcomes!
So, if this idea is a principle to lead by, then we can make the following analogy. Pull those coins out of your pocket… Each of these coins has value … different levels of purchasing power but all have value. On our teams people will have differing impact for the organization but no one is invaluable. To the entire 41 cents, the quarter contributes 61%, the dime 24.5%, the nickel 12%, and the penny 2.5%. Each have differing impact in the outcome.
Let’s look at your team. Likely there is someone or a group of someones who make an impact similar to that quarter. Without them, the team would greatly suffer. And you likely have people similar to the dime and nickel – key players making solid impact but could be removed and the team would adjust without serious detriment. And, if you’re like the rest of us, you have some people that are contributing at the penny level – not moving the needle much at all. (Make sure you read my post published Oct. 2, 2013 regarding the people producing at the penny level because we just might be the reason why they are performing at that level!)
You do know your team, however. You do know their talents and their not-so-talents. You have placed them in their best fit so they can do what they do best!
Now, let’s say it comes to reviews in your fiscal year and both the “quarter” associate and the “dime” associate are under-performing by 50%. The quarter associate’s lack of performance is costing you nearly 1/3 of your business productivity because remember they contribute 61% to the overall business at optimal performance. And how about that dime associate? Yes, they are important and they are costing you nearly 1/8 of your business productivity. But which is the bigger threat? You know you are going to need to commit some energy to investing in these two associates. You know you only have so much energy and time! Where are you going to leverage that energy most? One choice will likely improve your team by approximately 30% and the other by approximately 12%.
Too many times are perspective gets skewed by personality, perceptions that are not necessarily accurate, and even our own biases! Be objective and make the best decisions to bring the strongest RETURN ON ENERGY INVESTED!
Do you believe people’s contributions to the overall productivity vary?
Do you find yourself leveraging energies toward areas that will not yield much return on energy invested?
What skills have you developed to become more effective in leveraging your energy and time in areas most needed?