BETTER PAY ATTENTION TO RETENTION

- This summers hot human resources topic is employee retention," says Stephen Xavier, a consultant with Pasadena-based consulting firm Corporate Coaching International. Companies are losing talented people in large numbers and with some regularity." Some leave for a more secure job, others leave for better opportunities after being aggressively pursued by potential employers. The reasons people give for leaving jobs are usually pretty simple: they feel undervalued, unappreciated, not challenged, no clear career track has been outlined for them, and they feel dispensable -- they see no signs of loyalty.

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Corporate Coaching International
540 El Dorado Street, Suite 102
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Phone:   626.405.7310
Fax:   626.405.7312
Email:   Kim@corporatecoachingintl.com
Web Site: www.corporatecoachingintl.com

BETTER PAY ATTENTION TO RETENTION

Los Angeles, California-June 7, 2002- This summers hot human resources topic is employee retention," says Stephen Xavier, a consultant with Pasadena-based consulting firm Corporate Coaching International. Companies are losing talented people in large numbers and with some regularity." Some leave for a more secure job, others leave for better opportunities after being aggressively pursued by potential employers. The reasons people give for leaving jobs are usually pretty simple: they feel undervalued, unappreciated, not challenged, no clear career track has been outlined for them, and they feel dispensable -- they see no signs of loyalty. One of the most unexpected findings from questions asked during exit interviews is that money is rarely a factor," say Xavier. He offers these suggestions for what you can do to increase retention of your star performers:

1.   Learn your employees skills, interests, needs and desires. Make certain that their interests, your needs and the companys overall mission, vision and goals are aligned. Doing so during the hiring process will increase the value of new employees and your companys investment in them, and helps ensure they remain goal-aligned with the direction of the organization.

2.   Create mid-year, informal assessments that include an assessment of where the employee might move within the organization. Consider possibilities that will challenge and make them feel appreciated and fully utilized. Ask them where they see their career path taking them within the company. Be sure to share your thoughts on their career opportunities within the company.

3.   Invest in your people. Once your employees (and you) have a sense of where they want to go and where they can best be utilized, offer them training opportunities both inside and outside the company. Mentoring is a cost-effective method of professional development and creates continuity and promotes collaboration. Similarly, create cross-training opportunities with your peers.

4.   Dont write-off employees who feel the company wont lead them in the direction they want to go. If theyre honest enough to tell you they may not be with your company forever, you should be supportive enough to tell them how employment within your organization can prepare them for later career advancement opportunities. The idea is to retain good employees, not imprison them. Theyll appreciate your supportiveness and honesty, and will stay with your company longer than they would have otherwise.

5.   Create a physically and emotionally safe workplace for your employees. Ensure that there is no harassment and physical danger. Dedicate space where employees can go to relax on their breaks - areas free from phones and paging systems. Creating an outside space that is park-like is increasingly popular with employees and lets them unwind and then return to work refreshed and more productive.

6.   Initiate and support company and employee community involvement. Participation in volunteer activities and community-based projects is good for the company, the community and the employee. Give employees a voice in their project choices. The more involved they are up front, the more involved theyll be in the project itself.

7.   Dont forget about money. Although it wasnt at the top of the exit interview lists, no one ever turned money down when offered. Pay your people whats fair. Offer unique incentives that have more than monetary value -- gift certificates, weekend getaway packages, and other fun perks. Splurge a little. People will remember it long after they have chosen the gift or returned from the fun weekend away from work. You might want to pick up the book, 1001 Ways to Reward Employees by Bob Nelson.

8.   Measure employee value by performance. In addition to all of the above enticements, it is important that employees know that you expect quality results. Link pay incentives with productivity. This communicates the message that people who work hard are rewarded.