Ideas For Employee Retention

Written by Eileen McDargh, CSP, CPAE


A recent survey of 350 human resource managers shows that employee turnover is becoming one ofrepparttar 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 takerepparttar 106483 problem seriously and implement programs to ensure employee satisfaction haverepparttar 106484 highest retention rates. “Show merepparttar 106485 money” is notrepparttar 106486 singular solution. While bonuses, stock-options, and flextime are appreciated, what employees really want is some assurance of continued employability. Here arerepparttar 106487 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 ofrepparttar 106488 top seven areas are all related to learning. Today’s workforce recognizesrepparttar 106489 value of continual personal improvement as a way to assure steady employability. Yet many companies still find it easier to throw pay increases atrepparttar 106490 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,repparttar 106491 percentage of those ready to bail jumped to 41%!

Retaining Employees and Customers Is A Family Affair

Written by Eileen McDargh, CSP, CPAE


“The more things change,repparttar more things remainrepparttar 106482 same.”

As e-mail, voice mail, and technology allow people to conduct business without ever seeing each other,repparttar 106483 competitive edge can very well berepparttar 106484 re-creation of conversation -- specifically conversation that allows people to feel a “family” connection. It’s a connection that recallsrepparttar 106485 fact that commerce was traditionally an intimate affair.

My great-grandfather started a shoe store,repparttar 106486 first account Florsheim shoes ever had. Farmers would hook up their horses and trot into York, PA. By learning aboutrepparttar 106487 customers from his father, my grandfather knew their type of farm, their family members, what kind of shoes they needed. In short, business knew its customers and customers TRUSTED that a product or service would be delivered “as promised”. Reineberg’s Shoe Store was known for “fitting feet” not just selling shoes. Business was conducted on a family-like connection.

The same was true of employees. Employees TRUSTED thatrepparttar 106488 company would listen to them as if they were members of an extended family. Employees knew that my grandfather would value their individuality, understand that personal and business life were connected, and pay a fair wage for a day’s work. He also never asked more of others than he asked of himself.

Times have changed. But it’s not too late to develop family “trust”. However it’s not easy.

Customers abandon companies they do not trust and so do employees. Trust develops over time and can be dashed in an instant. But improving organizational trust is more difficult and subtler than installing new software. Research conducted by Leonard Berry, author of Discoveringrepparttar 106489 Soul of Service, and professor at Texas A&M concluded that successful companies tend to act like extended families. They display these “family traits” in five ways:

Family Gatherings: These are events designed to share, console, help, celebrate and communicate. Enterprise Rent-a-Car and Midwest Express Airlines routinely hold all-hands meetings to answer employee questions, give awards, and keep everyone up to date. It’s rather likerepparttar 106490 long forgotten family councils,repparttar 106491 circle ofrepparttar 106492 tribal elders. Information is freely given and encouraged. Sessions like “Stumprepparttar 106493 CEO” are held with prizes given to employees who askrepparttar 106494 most difficult questions. One advertising agency holds “HELP!” sessions that can be called whenever a team member needs advice and ideas. The stand-up-and-talk gathering is spur-of-the-moment, brings all hands around, and is over in less than 15 minutes. Andrepparttar 106495 family member who asked for HELP! walks away with new ideas and insights.

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