Impact Today™
Wednesday, October 29, 2008
What is a 5 percent increase in retention worth?
The Harvard Business Review reports that a five percent increase in retention often results in a 10 percent decrease in costs and productivity increases ranging from 25 percent to 65 percent! As an individual business, it may help to learn what produces job satisfaction. The correct answers are not always the obvious ones! Take this quiz to see what you know about producing job satisfaction:
Mark these statements as True or False:
Mark these statements as True or False:
- Level of compensation is the most important factor in job satisfaction.
- Self-esteem produced by the workplace ranks very highly in determining satisfaction.
- Match between employee occupational interest and job requirements does not count for much in measurements of satisfaction.
- Flexible work times rank low on the overall scheme of job satisfaction.
Check your answers here.
How well did you do? What can you do to improve employee satisfaction in your business? Ideas:
Make repetitive tasks less boring.
Provide workers with responsibility as well as the authority to accomplish it.
Look past formalities and establish genuine growth paths for all employees, not just executives.
With a little work and creative thought, even employees with low morale can become motivated, enthusiastic and satisfied in their jobs!
How well did you do? What can you do to improve employee satisfaction in your business? Ideas:
Make repetitive tasks less boring.
Provide workers with responsibility as well as the authority to accomplish it.
Look past formalities and establish genuine growth paths for all employees, not just executives.
With a little work and creative thought, even employees with low morale can become motivated, enthusiastic and satisfied in their jobs!
Labels: Employee_Retention, Retention
¶ 10/29/2008 0 Comments Links to this post
Wednesday, October 15, 2008
What is Performance Management?
A well-known company that opens its doors to the public every day recognizes its employees for good performance by prominently placing their photographs in the lobby display case. Each photograph is accompanied by a biography of the employee. The employee also receives an extra paid day off, a gift certificate to a favorite restaurant and a convenient reserved parking place for the month.
This reward system exemplifies one of the four crucial building blocks of performance management that is effective in combining recognition and reward, although it is too often overlooked. Other elements in the system of managing individual performance are just as essential. If any one block is omitted or neglected, it has the same effect as an architect leaving out a key step in the construction of a building: It will not be as sturdy.
The four key strategies important to managing performance are planning, monitoring and feedback, development and reward/recognition. Let’s examine how you can set each of these building blocks in place.
To continue reading, click here.
A well-known company that opens its doors to the public every day recognizes its employees for good performance by prominently placing their photographs in the lobby display case. Each photograph is accompanied by a biography of the employee. The employee also receives an extra paid day off, a gift certificate to a favorite restaurant and a convenient reserved parking place for the month.This reward system exemplifies one of the four crucial building blocks of performance management that is effective in combining recognition and reward, although it is too often overlooked. Other elements in the system of managing individual performance are just as essential. If any one block is omitted or neglected, it has the same effect as an architect leaving out a key step in the construction of a building: It will not be as sturdy.
The four key strategies important to managing performance are planning, monitoring and feedback, development and reward/recognition. Let’s examine how you can set each of these building blocks in place.
To continue reading, click here.
Labels: Productivity, Retention
¶ 10/15/2008 0 Comments Links to this post
Tuesday, October 14, 2008
Connecting employees
Are your employees connected to the vision of your organization? Several decades ago Gallup identified areas that indicate the connectivity an associates feels toward their employer. They survey using 12 questions:
Are your employees connected to the vision of your organization? Several decades ago Gallup identified areas that indicate the connectivity an associates feels toward their employer. They survey using 12 questions:- Do you know what is expected of you at work?
- Do you have the materials and equipment you need to do your work right?
- At work, do you have the opportunity to do what you do best every day?
- In the last seven days, have you received recognition or praise for doing good work?
- Does your supervisor, or someone at work, seem to care about you as a person?
- Is there someone at work who encourages your development?
- At work, do your opinions seem to count?
- Does the mission/purpose of your company make you feel your job is important?
- Are your associates (fellow employees) committed to doing quality work?
- Do you have a best friend at work?
- In the last six months, has someone at work talked to you about your progress?
- In the last year, have you had opportunities at work to learn and grow?
If your employees were to answer these questions, How would you do?
Labels: Attitude, Productivity, Retention
¶ 10/14/2008 0 Comments Links to this post
Tuesday, September 2, 2008
Job satisfaction and the risk of increased turnover
Job satisfaction has steadily declined in the American workplace over the past ten years. The Conference Board reports, “half of all Americans are satisfied with their jobs, down from nearly 60 percent in 1995.” Only 14 percent say they are “very satisfied.” The largest decline was in employees ages 35-44. CareerBuilder has recently reported, “six out of ten workers plan to leave their current employer for other pursuits within the next two years!”
With declining job satisfaction comes the risk of increased turnover and all of its well-documented costs:
Job satisfaction has steadily declined in the American workplace over the past ten years. The Conference Board reports, “half of all Americans are satisfied with their jobs, down from nearly 60 percent in 1995.” Only 14 percent say they are “very satisfied.” The largest decline was in employees ages 35-44. CareerBuilder has recently reported, “six out of ten workers plan to leave their current employer for other pursuits within the next two years!”With declining job satisfaction comes the risk of increased turnover and all of its well-documented costs:
- Increased hiring expense
- Decreased productivity
- Increased absenteeism
- Wasted training dollars
- Decreased safety
- Improve satisfaction and retention; improve profitability.
Labels: Job_satisfaction, Retention, Survey
¶ 9/02/2008 0 Comments Links to this post
Wednesday, August 20, 2008
10 ways to keep talent through tough times
Even though there are plenty of people looking for jobs, finding skilled, talented workers is harder than ever before. Therefore it is essential you retain your current talent. Here are ten easy, practical ways you can hold on to those individuals you do not want to lose.
¶ 8/20/2008 1 Comments
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Even though there are plenty of people looking for jobs, finding skilled, talented workers is harder than ever before. Therefore it is essential you retain your current talent. Here are ten easy, practical ways you can hold on to those individuals you do not want to lose.- Give top performers opportunities to develop. Providing additional training and responsibilities helps you see what they can do.
- Reward your top performers to retain them. Rewards should be consistent with the value they provide. However do not fall into the trap that rewards must be cash or merchandise. There are hundreds of creative ways to reward talent without spending a dime.
- Keep your door open. Be accessible to your people when they want to talk.
- Provide mentors. Veteran employees can help young talent learn the culture.
- Cross-train top performers so that you can move them around where needed. Younger employees appreciate this as it gives them broadened expertise.
- Show you value talent by treating employees fairly.
- Find ways to help your top performers understand themselves. This will help them manage change better.
- Develop your own standards for top performance. Don't copy someone else's unless mediocrity is OK. Make sure your talent understands the standards and are equipped to achieve the goals.
- How many top performers are enough? Mine for talent all the time, not just when talent leaves or changes jobs.
- Maintain relationships even when people move on. Some talented people return quickly when they find out they do like the new employer. Welcome them back.
Tuesday, August 19, 2008
Why talented employees quit
When Calvin Coolidge announced he would not run for re-election to the Office of the President of the United States he surprised many people. No reason for the retirement was given so one reporter felt duty bound to ascertain the reason.
Coolidge replied, “I’m leaving the office because there is no room for advancement.”
As odd a reason as this may be it is precisely one of the leading reasons people leave an organization according to a recent survey by Right Management. If the resignation is from someone that is overrating their own performance it is not necessarily bad news. However if the resignation is from one of your talented or skilled employees, they will be hard to replace.
To read the rest of this article, click here.
When Calvin Coolidge announced he would not run for re-election to the Office of the President of the United States he surprised many people. No reason for the retirement was given so one reporter felt duty bound to ascertain the reason.Coolidge replied, “I’m leaving the office because there is no room for advancement.”
As odd a reason as this may be it is precisely one of the leading reasons people leave an organization according to a recent survey by Right Management. If the resignation is from someone that is overrating their own performance it is not necessarily bad news. However if the resignation is from one of your talented or skilled employees, they will be hard to replace.
To read the rest of this article, click here.
Labels: Retention
¶ 8/19/2008 0 Comments Links to this post
Tuesday, July 15, 2008
Desk Rage touches half of workers
New research has shown that nearly half of the American workforce has resorted to “Desk Rage”. It is a substantial problem that places employers at risk of a “hostel environment”.
Anger in the workplace ranges from rudeness to abusive behavior according to professor Paul Spector of the University of South Florida.
Research also shows:
New research has shown that nearly half of the American workforce has resorted to “Desk Rage”. It is a substantial problem that places employers at risk of a “hostel environment”.Anger in the workplace ranges from rudeness to abusive behavior according to professor Paul Spector of the University of South Florida.
Research also shows:
- 88 percent feel their workplace is growing less civil
- 25 percent admit they have been driven to tears by desk rage
- 17 percent say company or personal property has been damaged by desk rage
- 11 percent claim physical violence has occurred in their workplace
- 10 percent fear their workplace is not safe
- 3 percent admit pushing, slapping, or hitting a co-worker
Labels: Attitude, Behaviors, Retention, Survey
¶ 7/15/2008 2 Comments Links to this post
