This article from abcnews.com discusses different corporate plans to help employees deal with the rapidly increasing gas price. Of all the creative approaches I have read of late, I think this one takes the cake (my bold): The career search Web site Jobing.com’s program really helps employees’ wallets. Those who meet certain requirements (such as length of time at the company, a good driving record and completion of a safe driving course) can get their car completely wrapped with the company’s logo. The reward: 100% of the employee’s gas is paid for along with a monthly $500 stipend. The company has an approved list of cars that employees can choose… Read More
Continue ReadingTop Reasons People Change Jobs
These lists seem to come out on a regular basis with different results. Yet, I’m a sucker for a list so I read them. The one consistent piece of information I read is that compensation is often overrated. People may say they changed jobs for a better compensation package, but usually it is some other factor driving them out of their current job. I’m not sure that holds up well in sales. The top reasons people have changed jobs: Downsizing or restructuring (54 percent); Sought new challenges or opportunities (30 percent); Ineffective leadership (25 percent); Poor relationship with manager (22 percent); To improve work/life balance (21 percent); Contributions to the… Read More
Continue ReadingJobhopping And Nomadism
I have a friend who is one of the steadiest guys in the world. He is extremely talented, has worked for some large companies and has an impressive list of degrees. However, he has been working on his career path since the moment he graduated college in 1992. He has worked for 4-5 year stints at a few companies before joining a company now that is the realization of his chosen path. The humorous aspect of his journey is that his employer is an old company. Their initial review of his stellar resume was this – he is a jobhopper. I still laugh when I think about that line applied… Read More
Continue ReadingGenerations 101
The Wall Street Journal provides an article that does a nice job of laying out the upcoming shortage of workers. The focus is upon the different generations and the general drive behind each. The article is rather rudimentary, but it provides a clean view of the problem. First: Americans of childbearing age simply are not producing enough kids to meet the economy’s future need for workers, notably in fast-growing fields such as medicine and engineering. The shortfall is coming largely because the fabled baby boom generation was so huge—75 million Americans born in the 18 years from 1946 to 1964—that no other generation can be expected to match it any… Read More
Continue ReadingDon’t Drink The Kool-Aid
The doom-and-gloom economic reporting continues and as a sales manager it is important to keep a pulse on your team. More articles are being released on the topic of employees getting skittish about their future with the company. Bob Rosner offers some good advice for these employees in his Working Wounded blog: Be careful to not drink the Kool-Aid with coworkers by being hyper-critical about your company’s future. Get an outside opinion. If you work for a public company, talk to a stock broker. A search in our city listed 391 brokers who offer a free consultation. If you work for a smaller company, check with vendors to see if… Read More
Continue ReadingDirector Of Career Mobility
Another good article here from WSJ titled New Career, Same Employer. The gist of the article: Ernst & Young LLP last year named Nancy Harley director of career mobility for the Americas, a new position designed to help employees of the accounting firm move into new roles. “The longer someone stays intrigued and challenged, the longer they’re going stay with the firm,” Ms. Harley says. Observers say employers are creating or expanding these programs to improve retention rates in a competitive job market, particularly as Baby Boomers begin to retire. The initiatives typically include Web-based programs for evaluating employees’ career goals and suggesting relevant paths. Interesting title – director of… Read More
Continue ReadingGen Y Retention Strategies That Work
Yesterday I posted on this “determine your own vacation time” approach to management. It is totally foreign to me. Today I come across another company with the same approach. This HRE Online article – In Their Own Words – contains comments provided by Gen Y workers on a recent survey. First the vacation comment (my empahsis): CarMax “Time away from work policy instead of vacation and sick days. There is not a set amount of time you can take, you just work it out with your manager. The office’s atmosphere is very bright and open. Management is very accessible and will answer any questions that you have. They encourage management… Read More
Continue ReadingRetention Strategy – Limit Rules
BusinessWeek.com’s playbook section offers a very short, but highly intriguing article title How Netflix nets and keeps talent. Here it is in it’s entirety: PAY LAVISHLY Higher-than-average salaries—and tying bonuses and raises to the market, not a pool—can make stars less likely to bolt. Money is no object in hiring. PROVIDE COMPENSATION CHOICE Employees are more likely to excel if they can pick how much of their compensation they get in stock rather than cash. FOSTER TALENT HUNTERS Encouraging everyone to hire the three people they’ve loved working with most during their careers creates an intense, fun workplace. LET THEM GO Don’t give B performers a middling raise. Give them… Read More
Continue ReadingSales Retention Through Compensation
Commission-only sales plans are risky in my opinion. I know they are the truest form of selling – you eat what you kill. I simply think that many salespeople view this structure as a lack of commitment from the company. I’m not saying that is accurate, but I have talked to many salespeople under these plans and this is their perception. Fortune Small Business discusses this topic in their article Why to be wary of commission-only sales staff: “If you hire someone and you’re not really willing to invest time and resources in them – and that’s really what a commission-only sales person suggests – then you’re missing an opportunity,”… Read More
Continue ReadingRetention Is The Toughest Challenge
Inc.com has a short article reporting the survey results of HR professionals that shows a shifting trend: In a survey of 413 HR professionals, more than half identified talent management as their top priority, and were planning to improve their rewards and benefits programs. Most employers cited employee retention among their five toughest challenges, ahead of health-care costs, the survey found. Last year, 80 percent identified health-care costs as their biggest challenge. I fully expect retention will move into the top spot and stay there for quite some time (i.e. years) as the Boomers retire.
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