This week I’ve been busy doing one of my least favorite things; marketing stuff. Ugh! The process of moving the End Game Business web site to a new platform is in motion. I’m looking forward to when I can say “GTO” – Glad That’s Over!
I’m also launching a new coaching program specifically for people in transition. They’re tired of drifting and ready to be intentional about the next chapter. A new career, job, business, or some other passion that lights them up! I’ll write about the new launch in the weeks ahead. (Special thanks to Andy O’Bryan; my lead guru on both projects.)
Now to this weeks post.
Does the thought of the “new hire” Continue reading
Keeping a firm grip on every budget dollar continues to be crucial in the challenging business environment. Until recent glimmers of improvement in the economy become a reliable upward trend, employers continue to produce more with fewer staff.
Being part of a strong recovery will require three crucial accomplishments:
- Retention of superior performers to achieve current goals.
- Strategies for bringing out the best in everyone on the team.
- Selection of new talent as you ramp back up.
When your business is ready to grow, will your employee value proposition motivate star performers to join your staff and convince the ones you have now to stay on board? Will they be raving fans? Continue reading
In today’s economy, every business leader, owner, CEO and president should be asking themselves one important question: “Do I have the talent to take this business to the next level?”
If the answer is no, you probably want to begin looking, but if the answer is yes, then employee retention should be at the top of your list. With employee retention statistics that prove your best employees may be sitting on your payroll while patiently waiting for the “right” job, you need to be sure that you are managing employee retention with specific individuals in mind and long-term goals in place.
Employees Are Not All Alike
A good manager knows the strengths and weaknesses of their employees, but do they know what motivates them? Employee retention studies show money is NOT the reason most employees leave a job, which seems contrary to popular belief. In a recent study of over 19,000 job seekers, only 19% said money was the reason they were looking for a new job. Instead, more popular reasons included stress, mismanagement, lack of room for advancement and lack of employee development.
To effectively manage employee retention, it is important to determine the core values of each individual. What drives them to take action? What keeps them engaged and motivated? What needs do they have that should be fulfilled on the job? For example, let’s assume Arthur is a salesman for a medical device company that sells a new health care device to hospitals. What motivates Arthur to get out of bed each day, put on his suit and give a great sales pitch? Perhaps he knows that each time he introduces better technology to a hospital, he impacts the lives of many every day. Or, maybe Arthur’s personal goal is to be the top salesman in the company. Yet another possibility is that Arthur comes from a family of salesmen and takes pride in following in their footsteps. Whatever the case , the key is to know what motivates Arthur and ensure that employee retention strategies cater to his unique, personal motivators.
Employee Retention Must Fit Corporate Goals
Developing an employee retention strategy specific to each individual must start with an in-depth look at the company’s long-term goals and what it needs for success. What is the next level? What skills do you need to get there? Who has those skills and what skills are missing in the company? While it is not an easy task, it is an important step in the process of creating an employee retention strategy that will help you meet your long-term goals. Perhaps you will find that job roles should be re-organized, skills of certain employees are better utilized in another way, or certain employees are key to future success. Once you have determined how your workforce needs to adapt to meet company goals, you can implement an employee retention strategy that ensures your best talent is there to help you reach the top.