Throughout my professional career, it has been a privilege to have worked alongside some outstanding individuals and reaped the benefits to have been influenced and mentored by some top tier industry leaders. Several years ago, I was lucky to be a part of a management retreat where my former organization brought in an outstanding guest speaker. His name was David Novak, and at the time, recently retired as CEO from Pepsi Cola spin off Yum! Brands that include KFC and Pizza Hut. David was also an executive for many years at Pepsi, making an impact in Marketing if I recall correctly. He was given the opportunity to become the new CEO of Yum! brands that had some major financial difficulties and failing relationships with the franchise ownership. David might have been a wizard at finance, at digesting numbers and statistics, but this alone is not enough to turn around fortunes throughout the company. He outlined his plan to turn things around by building strong relationships and mending the fences with the franchise owners through an open-door policy. He listened to his franchise partners, addressed their issues, built trust, and put into place a strong like-minded corporate management team. And indeed, he was able to turn it around with explosive growth, profitability, and new property openings leading the way along with some brilliant marketing campaigns. But the true skill he used to turn around the fortunes of the Yum! brands through the power of recognition. Such a simple concept but in so short supply to the under enlightened leader. David observed that a "global recognition deficit” existed and developed strategies to improve this situation and create a positive culture throughout his company and franchise partners. He understood that recognition created a positive, motivated, and productive team. This initiative was spread throughout an energized organization from the executive team to the entry level worker working the counter at a property in Vietnam. I recall David would fly across the country and world to recognize outstanding achievers at every level. He would bring along an old Polaroid instant camera to take pictures with the recipients of the various rewards he would hand out. He would take a pair of pictures; one for the recipient and the other for him to post on the wall in his office. The great news is that is doesn’t cost a nickel to truly recognize somebody’s talents, give positive feedback of their victories, acknowledge the effort in both good times and not so good time. In my years in management positions, this has been a most useful skillset and changed my perspective in how I think on a day-to-day basis. Thank you, David, for inspiring me so many years ago. Your books should be required reading for any leader both old or new.
David's website: https://lnkd.in/grgjRQPd
General Manager at Great Clips
3moCongratulations I need to change my title 😂