4 Secrets for Employee Retention

Forget retiring Baby Boomers. The real threat to keeping your best people is technology. I wrote about this briefly in my last post, but never before has it been easier to “evacuate the mothership” and go out on your own. Think your entrepreneurial employees can’t afford a CRM system? No worries. Salesforce.com has one for $60. No finance experience? Not a problem. Quickbooks and/or Freshbooks.com make accounting fairly painless. Can’t take credit cards? Wrong again. Squareup.com lets you swipe cards right on your phone. And the list goes on. This technology has enabled a new generation of entrepreneurs who will continue to seriously fragment the talent pool. As such, it’s increasingly important for employers to turn the mirror around and focus inward on key employee retention. Want to keep your CREW in place? Here’s what it takes: Communication – I’m always amazed when employees can’t articulate the strategic objectives of their company. If you trust someone enough to hire them, you should trust them enough to keep them informed. This not only includes your organization’s big-picture planning, but financial health (excluding salary) as well. Rewards – Want to drive short-term results? Give away an iPad. (I’m serious.) But if you’re looking for more long-term, sustained performance, focus on a higher-value reward, i.e. appreciation with a strong dose of that other “r” – respect. Engagement – This is Communication 2.0. More than just telling employees what’s going on, engagement is about listening to – and implementing – their feedback. Yes, surveys are helpful, but… when was the last time you popped into an employee’s office just to ask how things were going? Workplan – Everyone who works for you should have an individual career plan that outlines their performance benchmarks. This document is critical to keeping staff engaged and on-track with your company goals, yet many businesses leave employees alone to “figure it out” on their own. Sadly, the most talented people often “figure out” they’d rather work somewhere else! So while all of this new technology is certainly awesome for entrepreneurs, your job is to convince your staff they’ll never need it by giving them a great place to work. As author and leadership expert Tom Peters recently tweeted, “You take care of the people. The people take care of the service. The service takes care of the profit. Then re-invest. Bingo.” I couldn’t have said it better myself. Emily Bennington, founding partner of Professional Studio 365, leads programs that help companies get the most out of their career newbies, while helping said newbies connect their efforts to the organization’s big-picture goals. Read more » articles by this approved career expert | Click here » if you’re a career expert Photo credit: Shutterstock

When most people think of Nike, they think of shoes, retail stores, and, of course, athletes. That's all true, but there's more. Behind Nike's walls, you'll find the doers and thinkers who design, create, and innovate every day. There are also data scientists who discover and leverage athlete insights to create the future of sport.

You might be surprised to learn about the impact you can have in Data & Analytics at Nike versus at a major tech giant. Nike employees get to work on a wide array of challenges, so if you're obsessed with math, science, computers, and/or data, and you love sport, these stories may inspire you to work at Nike.

SHOW MORE Show less

Employee loyalty is something every company longs for. It's estimated employee turnover costs as much as 130-200% of an employee's salary. When a talented, knowledgeable, trained employee leaves, it's bad for business. And, when lots of them leave, it can be the kiss of death.

SHOW MORE Show less

If you saw our first video, you might have heard about the interview situation one of our viewers, Remi submitted. He was in an interview and was asked the question: How many cows are there in Canada right now? - What a weird question but this is a technique that some hiring managers are using these days.

SHOW MORE Show less

If you saw our first video, you might have heard about the awkward situation one of our viewers, Kevin submitted. He is a college student who's working a part time job to make ends meet. The manager/owner of the company has become a micro-manager who watches him work on camera and reads his company emails. A bit over the top wouldn't you say?

SHOW MORE Show less

All work and no play can create a tense and unwelcoming environment. Studies have shown that employers that offer additional perks have employees that are happier and more loyal to their place of employment. If you are looking for an employer that acknowledges how important it is to give its employees a place to de-stress and bond with their co-workers, check out these companies!

SHOW MORE Show less

In this week's episode of "Well This Happened", we want to know what you would do if you worked for an owner who micro-manages you my watching you work on camera and reading through your company emails.

We want YOU to be the career coach and tell us which one is the RIGHT answer!

Think you know? Vote below, and stay tuned for later this week when we announce the right answer (and why the other ones are wrong).

SHOW MORE Show less