One of the most critical questions that many of our clients are currently addressing is the lack of finding good employees, being able to keep employees and wondering how they find themselves in the position of needing better employees.
These questions are as significant as time– from the earliest Biblical times, people have wondered how to acquire, retain and reward key employees.
In today’s modern world, several factors need to be addressed regarding employee acquisition and retention. The global environment is one question. With instant communication anywhere in the world, people recognize very clearly that they are “in contact” instantaneously anywhere around the world. We are connected.
The Connectiveness that we have today plays a major factor in the intergenerational dynamics of the work place. Employees with IPADS, notebooks, notepads, cell phones, smart phones are always connected. For some employers, this is a very challenging matter to address. Part of the issue is that on intergenerational relations. What this means is that we have Generation X, Y, Millennial and Baby Boomers all working together in the workplace. Baby boomers are much different in work style and habits than either Generation X, Y, or millennial. OK, we have to be able to deal with it– there is no reason to fight it!!
Firms that have a warm, inviting and stimulating climate will always win over other firms that do not possess such attributes. When employees enjoy going to work, enjoy their colleagues and find the work to be stimulating and challenging, retention and motivation problems are non existent. When we have clients that complain that they are unable to retain employees, the key factor that we can usually identify is some type of climatic condition that wants people not to stick around. Money is normally never the first factor in the retention equation. Money usually comes up 4 or 5 on a list of reasons why people like or dislike a job or company.
Take a look at the environment that you have created at your firm. If it is not an enjoyable place to work, if the offices are drab, dreary, computers are not current and up to date and there is always tension in the air, you probably need to make some changes OR you will continue to serve as a revolving door for employees.
Remember, it costs normally a year’s salary to hire and retain a new employee. You will not pay it out all on day one, however, the additional training, decreased initial productivity and “getting up to speed” are all factors that take time and money. The workplace environment is today considered the number one reason that employees seek to change companies. If your employee turnover is high, check out your environment– you may be amazed at what you discover.