Retention does not seem to be a topic of great concern in this present economy. However, the economy will turn and hiring will accelerate. When this happens (hopefully sooner rather than later), retention will become a key topic for many companies. In a surprising story, CNNMoney.com provides a brief description of a unique approach Chipotle uses: Find incentives that work. The best Chipotle restaurant managers get the title “restaurateur” and a $10,000 bonus for each person they hire who starts as crew and goes on to become a manager. We have 170 restaurateurs out of 1,000 managers, and the turnover rate among them is very low. Two things that work… Read More
Continue ReadingRetention Horizon
Employment in this economy is a wonderful asset, to say the least. However, this abcnews.com story points to an impending problem – retention. Even Americans who are lucky enough to have work in this economy are becoming more unhappy with their jobs, according to a new survey that found only 45 percent of Americans are satisfied with their work. That was the lowest level ever recorded by the Conference Board research group in more than 22 years of studying the issue. The economy will eventually turn around though it appears it is going to be a slower process in comparison to historical recoveries. When it does turn and hiring picks… Read More
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