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In December 1974 I was working as a waiter at le Castillion Restaurant in The Bonaventure Hotel, in downtown Montreal. At the time, le Castillion was one of the top restaurants in the city. Smoked salmon was cut and served at the table, Caesar salad prepared and tossed in front of dining customers, violinists serenaded patrons to celebrate their special occasions, and Cuban cigars available—to provide a special finale to a unique gastronomic experience.
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My parents taught me the importance of saying “thank you.” They passed the importance of appreciation along to me. Recently, when I read about a 2012 research study “Turning Thank You into Performance,” I thought how amused my parents would be to hear that “thank you” is now credited as one of the keys to corporate success! The study found that companies that provide ample employee recognition and appreciation have 31% lower voluntary turnover rates than companies that don’t.
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My mom was an excellent cook. Her recipes were simple but delicious. She used to tell me that her secret was using fresh ingredients, enjoying the cooking, being consistent, and not cutting corners. But what does this have to do with management? To a large extent, good management also relies on a few steps that, if performed well, will result in good business performance. Cut corners or engage in sloppy execution and the outcome will be poor.