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Answer You - Employee Retention: The 9 Key Strategies To Keeping Your Most Talented People
At a time when gas exporting countries are considering the formation of an OPEC type gas producer’s cartel, EU President Barrosso has argued the case for a united European energy strategy in order to improve and maintain a more favourable bargaining position. In an interview with energy expert Jonathan Stern of Oxford University’s Institute of Energy Studies, he argues that such a strategy is necessary, but, doubts, given the very differences that exist with gas production, distribution and marketing, that the formulation of an OPEC type organisatio
3. Involve & empower your people
Gone are the old days of t
When bidding on janitorial services in a commercial setting, it is necessary to put together a "Bid Packet" to present to your prospective client. Many small businesses seeking cleaning services do not know what to expect when receiving a bid, or their experience has been receiving a single page bid, which is not very impressive. When you present a nicely packaged proposal, you've just increased your chances of winning the bid, regardless of price. This is because you've given the impression that your bid packet is neat and professional, so your per
Extensive research into employee retention shows that people leave jobs for a combination of factors. Factors which may include limited opportunities to develop, being in the wrong job, not feeling valued, that the job no longer fits their lifestyle or indeed a sense that they no longer trust and have faith in their employers.
So, to retain your most talented people, you require a strategy that seeks to limit these factors.:
1. Recruit the right people in the right way
If you have hired the wrong person, then you are always going to struggle to keep them. You may have hired someone who has the skills and knowledge to do the job, but do they have the right personality and attitude to fit into your business? Is your business able to match their career aspirations or are they going to be looking for the next job very soon?
Similarly, if you have failed to “wow” a new employee during the recruitment process then the seeds of doubt may already have been sown by the time they join you.
2. Effective induction, training & development
Inducting people effectively – in whatever format - is fundamental. Get it wrong and you have started to sow those seeds of doubt in their minds in the first few weeks. Beyond that, one of the keys to retaining people is ensuring there are opportunities for people to grow, learn and develop themselves.
3. Involve & empower your people
Gone are the old days of te
In your business, does it feel more productive, to be fulfilling the orders, or spending half a day on marketing or planning?You see, the majority of people go into business to escape working for a boss, or the long commute to work or the 9 to 5 boredom. They want freedom, flexibility and a better income.So, they take the incredibly gutsy move and go it on their own. They step right out of their comfort zone and they become the boss!They are enthusiastic, because everything is new and exciting. Their mindset is in exactly the ri
So, to retain your most talented people, you require a strategy that seeks to limit these factors.:
1. Recruit the right people in the right way
If you have hired the wrong person, then you are always going to struggle to keep them. You may have hired someone who has the skills and knowledge to do the job, but do they have the right personality and attitude to fit into your business? Is your business able to match their career aspirations or are they going to be looking for the next job very soon?
Similarly, if you have failed to “wow” a new employee during the recruitment process then the seeds of doubt may already have been sown by the time they join you.
2. Effective induction, training & development
Inducting people effectively – in whatever format - is fundamental. Get it wrong and you have started to sow those seeds of doubt in their minds in the first few weeks. Beyond that, one of the keys to retaining people is ensuring there are opportunities for people to grow, learn and develop themselves.
3. Involve & empower your people
Gone are the old days of t
In order to live, we need money. In order to have money, we need jobs. Money makes the world go round. That’s true. But for those who have a hard time looking for employment, here are some tips on how to do so.1. If you have just been fired from your latest job and received your severance package, don’t go on vacation. Employers look at the time you had your previous job to the one that you are doing now. It shows that you are wise and productive when it comes to managing your time.2. Go to job fairs. Chances are there are some in your
Similarly, if you have failed to “wow” a new employee during the recruitment process then the seeds of doubt may already have been sown by the time they join you.
2. Effective induction, training & development
Inducting people effectively – in whatever format - is fundamental. Get it wrong and you have started to sow those seeds of doubt in their minds in the first few weeks. Beyond that, one of the keys to retaining people is ensuring there are opportunities for people to grow, learn and develop themselves.
3. Involve & empower your people
Gone are the old days of t
Price does not count if you can offer great service or a trendy product. This statement is true most of the time. There are exceptions when the buying is not done on an emotional level. Using hype and excitement around a trend or fashion statement will normally allow you to charge a higher price, especially when the demand is high. Teens are primarily prone to this hype but so are adults when it comes to the latest technology. When new software comes out, the first people at the trough to try them out are the techies. A new tech product will normall
Similarly, if you have failed to “wow” a new employee during the recruitment process then the seeds of doubt may already have been sown by the time they join you.
2. Effective induction, training & development
Inducting people effectively – in whatever format - is fundamental. Get it wrong and you have started to sow those seeds of doubt in their minds in the first few weeks. Beyond that, one of the keys to retaining people is ensuring there are opportunities for people to grow, learn and develop themselves.
3. Involve & empower your people
Gone are the old days of t
Whether you're a drywall man or you run a heavy machinery business, the tools that help get the big jobs done must be in good condition or business will go south. Buying used construction equipment can be a big gamble, but oftentimes businesses just starting out cannot afford brand new machines. Smart used buys are out there; they just have to be found.Although it's certainly true some used buys aren't worth the powder to blow them up, with careful and smart shopping great machines can be found. The key to buying the best used equipment to ma
3. Involve & empower your people
Gone are the old days of telling people what to do. Modern leaders set the business’s vision and direction but fully involve their teams and empower them to make decisions. Once again it makes people feel valued and feel more connected to the business.
4. Ensure fair & consistent performance management
Performance management is not a one-off activity at the time of an annual appraisal. It is the ongoing process of giving feedback to align performance day in, day out. It is about being generous with your praise whilst being constructive and honest in conversations about underperformance. The key is to do it consistently.
5. Provide honest & realistic career management
Career management is all about managing people’s expectations. Listening and understanding their aspirations, offering realistic career options and then delivering on your promises. When the goal posts do move (as they often do) and you cannot deliver, being honest enough to communicate this openly will maintain the trust of your people and help retain them.
6. Offer a transparent system of pay & benefits
How you structure your pay, benefits and bonus depends on your business and your market – the key is that it must be clear and transparent. How much emphasis
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