IncBizNet
Resource Centers
Special Sections
is your arsenal for developing and maintaining sound financial plans and business strategy.
Inside: Budgeting | Compensation | Valuation
Free Trial: Intuit QuickBooks
Simple Start Free Edition 2009 for Windows
Departments
Newsletters
Click below to preview:
Help Me...
- Build a Business Plan
- Search for Software
- View Product Gallery
- View Product Guides
- Search Classifieds
Sponsored Links
Fresh Inc. - The Inc.com Weblog
Staff Blog Menu
Regular Features
Recent Entries
22-Year-Old Tumblr Founder Raises $4.5 Million
News: Employee Alumni Networks and More
Aeron chair discounts, cheap shipping & more
A Danish scam, deflation, and letdown at Macworld
Deflation, Facebook and Scrabulous
Neeleman's New Venture Takes Flight
Joel Was Wrong, Arrington Gets Uninvited, and This Wink Will Cost You
A great $3 gift for your employees
Inc. Recommends
Archives
September 5, 2003
Leadership
Employee Loyalty
Posted by Carole Matthews at 6:58 AM
What does it take to retain good employees? Apparently, not a lot of money, at least that's what the recently released Walker Loyalty Report suggests. In its survey of 2,400 full- and part-time employees, Walker Information discovered that the top five workplace factors having the highest influence on an employee's commitment are:
1. Care and concern for employees
2. Fairness at work
3. Feelings of accomplishment
4. Day-to-day satisfaction
5. Appreciation of ideas
Additionally, two strong influencers of employee loyalty in 2003 were being an employee-focused organization and offering opportunities for employee development.
All of this isn't news to Bob Nelson, who's been preaching for years that money seldom motivates and retains employees over the long haul. In an article on the Foundation for Enterprise Development website, Nelson says, "While money can be an important way of letting employees know their worth to the organization, it tends not to be a sustaining motivational factor to most individuals." He frequently encourages employers to be creative and more hands-on when supporting employees.
What are you doing to ensure your employees stay motivated and committed to their work and your business?
Try a RISK-FREE Issue of Inc. Today!
Retaining good employees is really just common sense - it's connecting with people, talking with them, showing them you hear them and that they are valid. Often the challenge is in selecting managers and leadership who are of accomplishing this!
I have worked for a state government for 30 years.
Its amazing how managers in state government consistently ignore the common sense approach represented by the 5 best ways to retain good employees.
All we are ever told is "look busy, but do nothing". People who try to accomplish things or try to improve the system are punished for taking un-necessary risks.
The trouble with comments / polls such as this is that they are highly dependent on the respondents actual position. It is not hard to predict that people at a level with a reasonable financial return would not put money first. Ask someone who is earning $8.00 - $10.00, in a manufacturing, or retail environment and I suspect (guarentee) you'd get a far different set of answers.
Personally, I'd love to see a poll on polls. With any given poll, when are the respondents responding? During work hours (?), probably means they are office based people with access to the internet (web based polls, obviously) and are not under constant supervision. Who sponsered the poll? Again, assuming web based... Inc. Magazine, Wall Street Journal, etc., etc., will attract a certain level / type of person with predictable results.
Of course, without these sorts of "obvious poll" results, many consultants, business advisors, educators (??) and the like, would have nothing to point at to show their business prowness.
"Care and concern for employees"... I wonder, does this stay # 1 when I (as a business owner) cut their salary 25% in order to keep the business, and their jobs, alive?
"Fairness at work"... True, as long as you cut the hours of the other employees, first. Or... as has happened lately, "Don't I get three warnings first? This isn't fair!!".
"Feelings of accomplishment", "Day to day satisfaction"... How about the employee accomplishing the work expected of them each day and then pushing to go beyond that the next day? Why are we, as individuals or companies, accepting being "satisfied"??
"Appreciation of ideas"... I appreciate all ideas. Rarely get to utilize them, but I appreciate the thoughts behind them. As an example: Durring a company meeting I had a few months ago, after discussing our impending payroll cuts due to trying to stay competative with competition (US and overseas), one of our employees suggested I get with all the other manufacturing business owners and tell them they should not move their operations overseas (China specifically). Great idea and the 5 minute discussion that went along with it, was well worth the time. (sarcasm)
Do not get me wrong. I am all for employee retention, satisfaction, well being, etc., etc., as long as it can be aforded. Saying that it should be done, is essential, etc., even at the ultimate expense of the business, is idiotic at best. As the weeks, months, years go by, I am becoming more and more jaded over the "armchair experts" that are out there and far more suspect of what is behind their statements and ideas.
I disagree with you
How about:
1.) Not openly dismissing the employees ideas all of the time.
2.) Refraining from egotistical boasting about the greatness of you or "your" company.
3.) Refraining from talking to your employees sarcastically.
4.) Stop undermining your employees motivation with disapproval etc.
I imagine that your two most valued qualities are loyalty and reliability, but this is mostly because your actions spur disloyalty and unreliability. If you pulled your head out you would be concerned with motivation and capability which go toward effectiveness.
You are all for employee retention, satisfaction, well being, etc., etc., as long as it doesn't mean having to stop feeding your ego with your abusive games that you think you are so clever with.
Post Your Own Comments