Your employees are probably getting called by recruiters regularly. And, they’re likely hearing about the great salaries and benefits they could be scoring at one of your competitors’ companies. How are you going to retain them?
It’s that holiday time of the year. I’m not talking about how to hire help in advance of the busy season. This post is about how to stop the exodus of employees that happens after the new calendar year starts.
Abraham Lincoln made the biblical phrase “a house divided against itself cannot stand,” famous. While Lincoln was referring to the debate about slavery in our country, sales managers should be thinking about this phrase in the context of employee rewards and recognition.
We’ve all had times when we haven’t been able to give an employee a key assignment or the raise they deserve. After a while, employees who receive too many pieces of bad news gradually disengage.
You may have heard stories from your parents or grandparents about old-school recognition programs – something along the lines of receiving a gold watch and being shown the door after twenty years of stellar service. In today’s competitive environment, you need to do better.
When employees do a great job, your managers may publicly praise them, and they may get a gift card or a bonus. This established pattern in most organizations certainly builds loyalty. But your recognition programs could be doing so much more.
While employees appreciate a boost to their finances or a trip to an exotic island, Mary Schaefer, an HR expert, reminds us that great managers go beyond money and awards during the recognition process.