#7 Profit Sharing – Employee Retention and Attraction
Why share profits with your employees? 2 reasons: It helps with retention and attraction, and It boosts productivity. Given a choice between working for an organization that shares its profits and one that does not, most people will choose the one that rewards their efforts. “Study after study shows that workers belonging to ESOPs and group-based […]
Employee Retention 6 – Financial Literacy
How many of your employees understand the basics of personal finance? How many know what a household budget is and how to use it? How many know the benefits of saving for retirement, especially the benefits of starting at an early age? As one way to attract and retain employees, you could offer financial literacy […]
#5 Employee Retention Triple Bottom Line
What’s the bottom line for your organization? One powerful way to attract and retain the best and brightest is to replace your “bottom line” with the Triple Bottom Line (People, Planet, Profit/Performance), which is one definition of true Sustainability. Why does this work? The unwritten social contract of a typical organization is this: employees work […]
#4 Stay Interviews
Why do your employees stay? There’s only one way to find out – ask them. Each stay interview can last about ½ hour. This blog is excerpted from The Power of Stay Interviews for Engagement and Retention, Second Edition by Richard Finnegan, as summarized in an article in SHRM magazine (URL below). To conduct a stay successful stay interview, […]
Employee Retention and Attraction #3 – Kill the Performance Review
Fear and trepidation – that’s what almost everyone feels as they meet with their boss for their annual performance review. Bosses have it worse! They also have to write performance reviews for each of their direct reports (which they dislike doing), and review performance reviews written by their direct reports. So why the fear and […]
Retain Your Employees #2 – ESL
One way to retain employees is to help them grow. That establishes a VERY strong bond between employee and employer. ESL (English as a Second Language) courses help people whose English is limited grow both professionally and personally. The Conference Board found improved English proficiency correlates with increased employee engagement and retention.* All you would […]
Work-Work Balance
Four days before my August wedding, my boss told me, “Gary, we can let you have the weekend off for your wedding, but you need to be back here Monday morning. We’re behind schedule.” [I had scheduled the two-week vacation several months earlier.] I replied, “I’m only going to get married once in my life, […]
Increasing Employee Retention and Attraction
How do you attract the best and brightest and retain them? That’s the common refrain among virtually ALL leaders, in all sectors – for-profit, not-for-profit, government… everywhere! Here’s a list of ideas, in no particular priority or order. I’ll be blogging Monday afternoons each week on at least one of them starting April 4. Let […]
Leadership That Works!
Our culture has it all wrong! We imagine the best leaders to be authoritative, with the leader being in front. Being bold and decisive and fearless. Being the person that the employees defer to. After all, that person is the boss, so their decisions must be right. And since this style of leadership is in […]
Bringing Light into Darkness
We are now at winter solstice, where the days are the darkest. What is it about light that draws people to it? Light brings warmth. Light brings clarity by allowing us to see things more clearly. Think of the root of the word “enlighten.” Light wakes us up and increases our energy levels. Light brings […]