I'm a big believer in training and I attend lots of
recruiting industry seminars, conferences, etc. There is
one particular trainer whom I have enjoyed seeing the
many years I've been in the business. Everything he
did I wholeheartedly agreed with and implemented in
my own practice. To me, he could do no wrong
— until last year.
Last year, he wrote a long year-end goal-setting
treatise where he recommended that every recruiter
have 40 goals for the New Year. That's right
— 40 goals! I thought he must be kidding,
but he wasn't. I totally rejected the "40 goal" strategy
and opted for a more realistic approach to my year.
Because here's what I know about myself: I can only
set and achieve a certain (read, modest) amount of
goals. I would rather set fewer goals and achieve
them than be too aggressive about the number of
goals I set. (Why, I felt downright ecstatic last
year when my New Year's resolution was not to pile
clothes on my chair in the bedroom. That was my
ONLY resolution. And, it worked! I'm now absolutely
resolved that I'm into quality — not
quantity — of resolutions.) So, in the spirit
of quality — not quantity, here's my
New Year's tip for you.
Three Little Things
(that add up to really big things!)
This year, I'd like to suggest that you "keep it
simple" and do only three things with the goal of
retaining your employees. If you do, you'll go a long
way towards keeping those precious assets at your
company. And (drum roll, please) here they are:
1. Have a
Competitive Benefits Package
If your product or technology is state-of-the-art, but
your benefits package hasn't been updated in the
past few years, you had best change that. If you
think that your benefits package is a "gift" to your
employees, rethink that. We get calls all the time from
disgruntled employees looking to make a job change.
Many times their meager benefits package is just what
pushes them over the edge to start a job search. For
example, three weeks' vacation from the start of
employment is now just about standard issue.
Your benefits package should not only be a great
recruiting tool, it should be so robust that it
delights your employees and keeps competitors from
stealing your people. And, there are many benefits
that don't actually cost a lot of money but will get
you lots of loyalty in return. Check out some
suggestions in our last month's
newsletter. Make this an action item —
review this with your HR specialist, call your local HR
consulting company or even ask your recruiter what
other companies are doing. Make changes right away if
you're not competitive.
2. Compensate
Your Employees at Market
Value
When you hire a new employee, the market will pretty
much determine what compensation you'll have to pay.
But what about the employee who has been with
you for a long time? Do you know if his
compensation is competitive with the market? In many
cases, an employee's job may have changed
since he has been hired. Maybe he has taken on
more responsibility, or maybe he has a long
tenure with you. Whatever the reason, if you find out
the compensation is not competitive, you had best
change that immediately. One of the most
frequent comments we hear when someone starts a
job search is that they feel they are "not making what
I'm worth." And, sadly, many times they are right! See
the "Websites for Compensation
Information" section below for places
to get up-to-date
compensation information.
3. Just Say "Thank
You"
There are no words you can say that are more
important than simply saying "Thank You" when a
job has been well done. People leave their jobs
when they think that what they do is not
important to the company, when they feel they are
not valued and appreciated. And, people who are
making competitive salaries will still leave their
jobs when they don't feel appreciated.
Thank your employees often — in private
and in public. Be sincere in your appreciation and
in your words. If this "isn't your style" or you feel
awkward saying these words, practice in the mirror
until you feel comfortable. Change your style. Do
whatever you have to do to communicate your
appreciation. As the Nike ad says,
"Just Do It!"
If you resolve to keep these three simple, yet
important, practices, you will see satisfied employees
who will make your company thrive!