Did you know that attracting and keeping skilled employees is important and often difficult for today’s businesses. A recent study shows 85% of HR executives state the single greatest challenge they have in managing the workforce is their organization’s inability to recruit and retain good employees and managers. (businessknowshow.com)
Today many employers are facing major challenges of finding skilled people, a younger workforce with different attitudes about work, and a growing population of older workers heading toward retirement.
The following are tips by author Greg Smith to help increase the satisfaction of your employees with their job, and as a result lower recruiting costs and make your company more productive.
Businesses can improve their ability to attract, retain and improve productivity by applying the following five-step PRIDE process:
P – Provide a Positive Working Environment R – Recognize, Reward and Reinforce the Right Behavior I – Involve and Engage D – Develop Skills and Potential E – Evaluate and Measure
- Provide a Positive Working Environment- Have you ever worked for a bad boss? One of the main reasons employees quit is the relationship with their first-line supervisor. The fact is many supervisors and managers are unaware how their actions and decisions affect employee turnover. A critical aspect of an effective retention strategy is manager training. Properly trained managers play a major role in an effective recruitment and retention strategy. Managers need the skills, tools, and knowledge to help them understand their employees’ retention needs and be able to implement a retention plan designed to increase employee engagement in the organization.
- Recognize, Reward and Reinforce the Right Behavior- Money and benefits may attract people to the front door, but something else has to keep them from going out the back. People have a basic human need to feel appreciated and proud of their work. Recognition and incentive programs help meet that need.
A successful reward and recognition program does not have to be complicated or expensive to be effective. Graham Weston, co-founder and CEO of Rackspace Managed Hosting, gives the keys to his BMW M3 convertible to his employees for a week. This creative way to reward employees has a bigger impact than cash. He says, “If you gave somebody a $200 bonus, it wouldn’t mean very much. When someone gets to drive my car for a week, they never forget it.”
An equipment distributor rewards each employee’s work anniversary with a cake and a check for $200 for each year employed. Twice a year employees’ children receive a $50 savings bond when they bring in their “all A’s” report card. In addition, they reward employees with a “Safety Bonus Program.” They screen each employee’s driving record twice a year, and anyone who has a citation is removed from consideration. Those employees remaining at the end of the year divide $2,000. On Fridays, all employees rotate jobs for one hour. This builds a stronger team, unity, and improves communication within the company.
At First American, managers present a Greased Monkey Award to the computer technician who is best in resolving problems with computer programs. The award is a plastic toy monkey in a jar of Vaseline along with a $50 dinner certificate.
Stay tuned for next weeks blog, concluding the final tips on how to engage, develop, and measure performance.
See you at the top!