The principle of owning vs. renting is powerful especially when it comes to an employee’s job. Ownership of a job is a fickle thing. Yet, I have worked for managers who assigned responsibility and provided enough autonomy to allow me to excel in my role. The younger generations seem to relish this approach even more than my Gen X group. ManageSmarter.com offers up an article with a clear title – Padlocking the Revolving Door on Turnover. There are 4 good points to support the article’s title, but one stands out clearly: • Foster a sense of ownership within employees. The old encouragement to “act like you own it” is good… Read More
Continue ReadingNo Way They Would Stay
From the Herman Trend Alert (sorry, no link): A global survey of 4,500 workers indicates that more people anticipate leaving their employers this year than last. In the 2006 BlessingWhite study, 65 percent said that they expected to “definitely” remain with their employers through the year. In the 2007 study, that number was down to 58 percent. Also of interest, more respondents in 2007 said that there is “no way” they would stay (eight percent up from six percent—a 33 percent increase). European employers face the greatest threat: eleven percent said there is “no way” they will stay. Moreover, employees in Europe and Asia appear less content with their current… Read More
Continue ReadingRetention In A Slow Economy
A statistic from the Career News newsletter (sorry, no link): One in four U.S. workers is resolving to get a new job this year. The survey found that 26 percent of employed Americans said they will look for a new job in 2008. I thought that number seemed somewhat low – I was expecting a number closer to 33%. Retention will always be a top priority for sales managers, but it may be that the slowing economy will cause more workers to stay in their current positions this year.
Continue ReadingSome People Play Checkers, Others Play Chess
BusinessWeek.com offers up the Best Corporate Practices 2008 which is a fascinating slide show if you have time to view it. This is from the opening of the article: In fact, much of the gap between the best and worst management practices can be described by that word: trust. At one point as a corporate human resources leader during the dot-com boom, our company switchboard was bombarded with calls from recruiters, seeking to pull away our sharpest technical talent. Our hardworking phone operators did their best to deter search consultants looking to make contact with talent by any means possible, but it wasn’t always easy. … We said to our… Read More
Continue ReadingRetention Starts With Recruiting
The Herman Trend Alert offers up an excellent analysis of the most pressing topic of today – retention. I thought this statement was spot on: The Hodes 2007 Workplace Study holds that two factors are critical to retaining valued employees. The first is choosing quality people, not settling for “warm bodies”. The second is choosing people who have long-term expectations of staying with the organization. We encounter companies that have a hire fast, fire fast mentality. Personally, I think this approach is high risk, low reward and we never condone this approach at Select Metrix. The second point is an important one also. If you are looking at a candidate… Read More
Continue ReadingCompensation – Keep It Simple
Every year we find December to be a fertile time for sourcing salespeople. One of the biggest reasons – the upcoming year’s compensation plan. More specifically, new commission plans tied to new quotas. The salespeople receive the new plan and are, well, disgruntled. Or ticked off. Good salespeople tend to look outside for new opportunities when their commission plan gets over-adjusted following a strong year. Let me speak clearly here – I am all for raising the bar, but you do have to take all factors into account before setting the new targets. ManageSmarter.com offers up this article – Fast Track Your 2008 Sales Compensation Plans – with 10 tips… Read More
Continue ReadingThe Most Important Aspect Of Retention
Competent managers. That’s according to a Kenexa Research Institute survey quoted in CareerJournal.com (emphasis mine). Sixty-two percent of employees who said they have an effective manager also said they planned to stay with their job versus 17% of employees who said their manager is ineffective who plan to stay with their job, according to a survey of 10,000 U.S. workers, plus 1,000 workers each in India, China, Brazil, the U.K. and Germany. No surprise, really. When we first encounter a customer with a turnover problem, we start by looking at management. Typically there is misalignment between the manager and the team or there is misalignment between the position and the current hiring process. Either… Read More
Continue ReadingFinancing Via Job Change
I enjoy skewering the mainstream media for “talking down the economy” which is a practice they condemned back in 2000. But all signs point to a slowdown in this red-hot economy which has led the Federal Reserve to target a soft landing. I’m no economist, but I found this article by John Sumser quite interesting. His take on the economy is one I have not heard (emphasis mine): The veterans, burnt by the dot com bust and the post 911 recession will argue that business will contract and layoffs will ensue. That’s the prototypical recession profile. Everywhere you turn, this scenario is forecast or implied. … Or, there may be… Read More
Continue ReadingThe Value Of Flexibility
We’ve been focusing on retention recently as the present job market has forced this issue. One point to note is that retention topics show up during the offer stage of hiring new salespeople. The items the candidate values are often the ones in which they engage the hiring company. Forbes.com’s How To Keep Your Employees Happy offers this: Interestingly, throwing money at staffers isn’t always the answer. Neither is throwing a party every few months. Having fun at work and creating a cohesive team is just one element. The most successful companies also realize flexibility, values, career development and providing meaningful experiences are also important elements to minimizing turnover. The… Read More
Continue ReadingCashing In On Skills
From the Career News newsletter (sorry, no link-my emphasis): And a growing number of employees have concluded that the best way to move up is to move around. According to international-employment-matchmaker Randstad’s latest World of Work Survey, more than half of today’s employed are searching the Internet for a better situation; yet most profess to be happy in their current jobs, despite a 41-to-60-hour work week. A just-released study by the Conference Board confirms that almost three-quarters of job-seekers are pounding virtual pavement. They’re scanning Internet job boards like Monster.com or CareerBuilder.com and networking with friends, acquaintances and friends of acquaintances on sites like Facebook and its business-networking predecessor LinkedIn.… Read More
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