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Credit Card Lingo
Knowing What’s Out There – And What To Choose
The World of finance can be a tricky game for both the seasoned veteran and the novice borrower. Banks can – by accident or design – make even the most simple information seem complicated and...
How to get your press release photos used in the media
Is it easy to get a picture published in the media? This is a question I am often asked by companies with a news item they wish to send out as a press release. The quick answer is no it isn't. However, that isn't to say it is...
If Your PR Can't Do This, Bag It!
As a business, non-profit or association manager, why continue a public relations effort that doesn’t deliver the key external audience behaviors you need to achieve your department, division or subsidiary objectives?
Time for a change. One...
TALES, FAILS AND BETRAYALS OF SEARCH ENGINE PLACEMENT Part 1
Copyright by Gina Novelle This is the first of a series of articles about a subject so many people want to learn; the un-sizzled truth of search engines. What do you really know about how a web site is placed? Are you being told the truth? Not...
The 3 Elements You Need For Successful Home Business
Product, Leads, and Advertising - the 3 most important elements of any successful home based business.
For this article we will focus on leads. Leads are people that are interested in making money from home. How do we know this?
For...
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Ideas For Employee Retention
A recent survey of 350 human resource managers shows that employee turnover is becoming one of the most critical workplace issues. Sixty percent say that skilled-person power is “scarce”. Forty six percent say that worker retention is a “very serious” issue and another 28 percent believe it to be “serious”.
Companies that take the problem seriously and implement programs to ensure employee satisfaction have the highest retention rates. “Show me the money” is not the singular solution. While bonuses, stock-options, and flextime are appreciated, what employees really want is some assurance of continued employability. Here are the most popular worker retention strategies:
78% conferences and seminars 67% tuition reimbursement 67% managerial training 58% pay for performance 57% flextime 57% interpersonal skills training 55% technical training
Five of the top seven areas are all related to learning. Today’s workforce recognizes the value of continual personal improvement as a way to assure steady employability. Yet many companies still find it easier to throw pay increases at the problem rather than take a long term view.
A recent study of 4000 professional and clerical workers found that job satisfaction keeps more workers than pay levels alone. The survey found that only 6% of people who were satisfied with their jobs but unhappy with their pay plan to quit. The percentage jumps to 27% when they were
dissatisfied with their jobs but happy with their pay! If they were unhappy with both their pay and job situation, the percentage of those ready to bail jumped to 41%!
The challenge: what makes for satisfaction? The answer: opportunity for career development through education, meaningful work and appreciation, 360 degrees of communiation, consistent performance expectations and consistent accountability, and work/life balance.
Pay is easier and quicker. Creating a culture for satisfaction takes time, prompts internal analysis, and leaves long-term positive results on the bottom line. Don’t tie pay increases to only rank and power. Work at getting away from the notion that you have to move up to make more. Remember that front line people hold customers in their hands. Shouldn’t they be among the most well-trained and well-paid people on your staff? Reward people for what they know and do, not how long they’ve been on the job or how many people they supervise.
© 2000 by Eileen McDargh. All rights reserved. Reprints must include byline, contact information and copyright.
About the Author
Eileen McDargh, CSP, CPAE, is an international speaker, author and seminar leader. Her book ‘Work for A Living and Still Be Free to Live’ is also the title of one of her most popular and upbeat programs on Work/Life Balance. For more information on Eileen and her presentations, please call 949-496-8640 or visit her web site at http://www.eileenmcdargh.com.
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