Profit by Design 66: Fiercely Loyal: Retaining A-Players with Dov Baron
What are the secrets to retaining A-Players? It comes down to loyalty. In today’s episode, Dr. Sabrina interviews loyalty expert Dov Baron to uncover the keys to building loyalty among our most valued team members. Some of these insights will surprise you!
Dov Baron has been twice cited as one of Inc. Magazine’s “Top 100 Leadership Speakers to Hire”, also cited in the “Meeting and Event Professionals Guide to the Top 100 Motivational Speakers”, and he’s been named as one of the “Top 30 Global Leadership Gurus”. Dov is a man with a finger on the pulse of the evolving world of NextGen Leadership. He’s a best-selling author of several books. His latest book is Fiercely Loyal: How High Performing Companies Develop and Retain Top Talent. He is the host of the National US TV show, “Pursuing Deep Greatness with Dov Baron” on Roku TV, and the host of the number one podcast for Fortune 500 listeners globally, “Dov Baron’s Leadership and Loyalty Show” on iTunes. It’s also carried by FM and AM radio stations across the United States. Dov also writes for, and has been featured in, many industry magazines, including being featured on CNN, CBS Small Business Pulse, SHRM, Yahoo Finance, Boston Globe, Business in Vancouver, USA Today, CEO, Entrepreneur, and many more.
Show Highlights:
- The biggest mistake leaders often make is assuming millennials are not loyal.
- The biggest part of communication is listening. You have to listen!
- Millennials stay in a job for 1.2-1.5 years, so you need to retain them in order to get your investment back.
- Salary no longer buys loyalty.
- Something you need to know: Many top-talent millennials would rather work for you than a large corporation. Dov explains why.
- How moving employees around based on their interests and new opportunities can be beneficial.
- Today’s young people learn differently than we did, and that impacts training.
- Dov explains why every business needs a “Chief Relationship Officer”.
- You must invest in your people-learning, emotional intelligence, and how to communicate better.
- Building relationships are crucial.
- When AI takes over a lot of jobs, you’ll be out of business very fast if you don’t learn to build relationships with the people who run the AI.
- Dr. Sabrina and Dov discuss employees that are a good fit, and those that are not.
- It’s important and compassionate to help someone along to their next opportunity if they are not a good fit in your business. They will respect this and have good things to say about you and your business once they have moved on. They become evangelists for your organization.
- Dov addresses the root of the fear of conflict, which is rejection.
- There’s nothing wrong with conflict, it’s the framework that is wrong. We often learn unhealthy models of conflict. You have to learn healthy models of conflict, and that requires listening, and hearing the other context.
- Conflict resolution is the ability to hear the context of the other person.
- Context isn’t present tense, it’s always history, and they may not know it in that moment.
- Dov describes an exercise to trigger the release of oxytocin that doesn’t involve touch, and why oxytocin is important.
- You don’t have reciprocal vulnerability with an acquaintance, but you do have it with a friend. It’s the willingness to confront where you disagree.
- Conflict has such negative connotations, so changing the word to “dialogue” or “narrative” can help create a safe space for team members to come forward and address points of disagreement. Encourage intelligence in your organization. Rebrand a conflict as an “intelligence exercise”.
- Dov shares a compelling story and discusses the importance of vulnerability.
- Show up, be real, and be authentic.
Links and Resources:
Get the Book!! How to Hire the Best - Contractors Editionwww.TapThePotential.com/book
How to Hire the Best Toolkit
www.TapThePotential.com/Toolkit
Get Ready for 2020!! Are you on track to creating a highly profitable, great place to work that lets you take a 4 Week Vacation™? https://www.tapthepotential.com/assessment
Dr. Sabrina’s WEBSITE
Dr. Sabrina’s PODCAST - PLEASE RATE & REVIEW!
For Resources & Tools from Sponsors - https://www.profitbydesignpodcast.com
Subscribe & Share Podcasts! - https://www.profitbydesignpodcast.com/podcasts/
Apply for our small group coaching program:
Facebook Group: https://www.facebook.com/groups/ProfitByDesign/
Book Mentioned:
Fiercely Loyal: How High Performing Companies Develop and Retain Top Talent, by Dov Baron
Connect with Dov!
Dov would love to hear what you got out of this episode, and what you’re going to do about it!
Dov’s EMAIL
Dov’s PODCAST
Take Dov’s Assessment: Evaluating Yourself in Order to Lead More Effectively!
http://www.matrix.fullmontyleadership.com
Access Matrix for FREE!! Download Dov’s best-sellers for FREE!
http://www.fullmontyleadership.com/gift
Mentioned in this episode:
Jumpstart Your Business!
Spending too much time working and not paying yourself enough? In 30 days, you could reclaim 10 hours a week and finally enjoy weekends — while your business runs well without you. Click here to join us for the final Better Business Better Life Jumpstart of the year happening Dec. 3 and 4th. https://www.tapthepotential.com/jumpstart