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October 4, 2023I just watched a thought-provoking post on LinkedIn. It’s got my mind thinking about the way we offer praise and motivation in various aspects of our lives. These principles apply to teammates, clients, bookkeepers, payroll specialists, and even our children. Here’s the link, it’s worth a watch:
History
The post presents an experiment in which two groups of children received the same project. They attributed the difference in outcomes to the type of praise they received. They commended the first group for their results and perceived intelligence. However, they celebrated the second group for their relentless efforts, perseverance, and dedication. As a financial specialist, this notion connects deeply, as it is crucial to motivate and empower individuals within the financial and payroll domains to achieve their best.
Application
To apply these insights to our professional lives, consider how we praise and motivate payroll specialists and colleagues within our firm. Instead of solely highlighting their achievements and intelligence. We can recognize the detailed effort they invest in handling payroll processes, ensuring accuracy, and staying up-to-date with constantly changing regulations. This shift in view, highlighting effort and dedication, encourages a growth mindset among payroll professionals. It encourages them to be open to learning, adapt to changes, and consistently seek improvement. Consequently, these are essential qualities in an industry driven by attention to detail.
Client relationships are essential in the world of payroll management. Just as in the experiment, clients can benefit significantly when praised for their commitment to payroll processes. Such as timely submission of information, following rules for record-keeping standards, and their cooperation in solving any issues. Recognizing their carefulness encourages a sense of shared duty and motivates clients to actively engage in the payroll management process. This results in smoother operations, fewer errors, and overall improved payroll effectiveness.
In the context of family and personal finance, the same principles apply. Praising children for their efforts in managing their allowances, budgeting, or even saving money for a specific goal, rather than just celebrating the financial outcomes, instills a sense of duty and work ethic from a young age. This approach molds children into financially responsible individuals, setting the stage for a lifetime of wise financial decisions.
Now what?
In conclusion, the LinkedIn post provides us with an important lesson on the power of praising effort over innate intelligence. This concept is particularly relevant in the field of payroll and financial management. By shifting our focus, we can cultivate an environment that encourages growth, learning, and enhanced financial performance. So, let us adopt this approach in the financial field, where it can truly make a difference in our professional lives and the lives of those we serve.
–Jessview