FranklinCovey Acquires International Rights to Sell Employee Recognition Training Based on New York Times Bestseller The Carrot Principle Outside North America

Business Wire, Oct 27, 2008

SALT LAKE CITY -- FranklinCovey today announced it has acquired the rights to sell employee recognition training based on concepts from the New York Times bestselling business book The Carrot Principle. FranklinCovey will sell this training to countries outside of North America. The training will help leaders and managers learn how to better engage and retain employees, by recognizing and rewarding their talent, productivity, and contribution, which is a critical strategy for business success, especially during difficult economic times.

"Authors Adrian Gostick and Chester Elton are recognized thought leaders in employee engagement, and we are pleased to partner with them and the O.C. Tanner Company," said Sean Covey, Senior Vice President and Chief Architect of Innovation and Products at FranklinCovey. "Their work furthers our mission to improve leaders and teams and will give our clients the skills they need to appreciate great employees and their work and increase further business results."

The Carrot Principle, released by Simon & Schuster in 2007, has already been published in 15 languages. Based on a 200,000-person, 10-year research study, the book demonstrates the benefits of effective recognition--including increased employee retention, productivity, and commitment. The Wall Street Journal lauded the book's "startling data on the strong correlation between recognition and return on equity."

"Great leaders use recognition as a way to build confidence, focus employees on the right behaviors, and retain and engage their key people," said Stephan Mardyks, president of FranklinCovey International. "The iconic Carrot and the authors' universal leadership messages will resonate with managers in Mumbai, Moscow, or Manchester."

Authors Adrian Gostick and Chester Elton add that the Carrot themes of employee engagement and recognition are even more important in today's economic climate.

"The key to getting through any challenge--recession, merger, organizational change or competition--is your people," said Gostick. "Recognition inspires employees to engage in the cause of your organization and understand their role in its success."

"And with the expertise and reach of FranklinCovey, leaders and managers in 145 countries will now be able to learn the business benefits of frequent, specific and timely recognition," said Elton. "After a decade of research and our work with some of the world's most successful companies, we can attest that Carrots are not the soft side of business, but a proven business essential."

About Carrots

Adrian Gostick and Chester Elton have published five Carrot-themed business books, which have sold 1 million copies worldwide. They are executives with the O.C. Tanner Company, the world's largest employee recognition and appreciation solution provider. Learn more at www.carrots.com.

About FranklinCovey

FranklinCovey (NYSE: FC) is the global consulting and training leader in the areas of strategy execution, customer loyalty, leadership and individual effectiveness. Clients include 90 percent of the Fortune 100, more than 75 percent of the Fortune 500, thousands of small- and mid-sized businesses, as well as numerous government entities and educational institutions. FranklinCovey has 40 direct and licensee offices providing professional services in 147 countries. For more information, please visit www.franklincovey.com.