Page 216 - Everything I Know About Business I Learned

Everything I Know About Business I Learned at McDonald’s

Food for Thought

Studies show that the top reason people leave their jobs
is because they feel disengaged with their work and are
not recognized and appreciated for their efforts.

Replacing talent is expensive enough, but it can cost
companies even more in lost profits as new replacements are
trained and projects are not accepted due to lack of staffing.
Companies can cultivate employee loyalty by implementing
a recognition program for deserving individuals.
• Educate the entire staff about the program. Be
sure that everyone understands what the rewards
will be based on. Post the program for all to see,
and promote it frequently.
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• Develop an ongoing commitment to identify
deserving employees.
• Celebrate team efforts that support the company’s
values and goals. Make sure that all goals have
clearly defined measurements that maintain the
goals’ objective nature.
• Reward both team and individual performance.

Giving Stock
Stock can be the greatest gift of all. McDonald’s was one of the
first companies to issue stock—a testament to Ray’s belief that
the company was one in which we would grow together,
rewarding those who truly helped build the company. Take Fred
Turner. Ray, on his seventieth birthday, gave Fred and Patty