Volume 136, October 2014: Keeping Good People

Keyzine: An E-zine for Leaders about the People Side of Business

This is a monthly electronic magazine for anyone who wants to be a better leader, coach, facilitator, or simply, to tune up their people skills. It is a complimentary publication, devoted to the next evolution of Quality Thinking.

Publisher: © Key Associates, 2014 ISSN # 1545-8873

“Communicate everything you can to your associates. The more they know, the more they care. Once they care, there’s no stopping them.” – Sam Walton, CEO, WalMart

Turnover, not growth, is usually the reason behind most recruitment pressures. Turnover is very costly – the average company loses $100K for every managerial employee who leaves. Some poor hiring decisions can cost as much as three to five times an employee’s salary, in lost productivity, poor morale, search fees, time to rehire, training time and alienation of co-workers and customers.

Pay people as well as you possibly can, to remove their minds from survival, then give them meaningful work to do. Here are intangible rewards that rank higher than pay:

  • The use of continuous quality improvement tools and measurement.
  • Autonomy – the freedom to change processes they own.
  • Continual feedback on performance. Recognition from peers, senior management.
  • Pride in work. Seeing how their work fits into the larger picture.
  • Being part of a great team.
  • Helping others.
  • Fun on the job.
  • Fairness.
  • Flexibility.
  • Learning opportunities.
  • Career growth and advancement.
  • Inspiring leaders and mentors.

Practice Point

Re-recruit the people you've hired. Ask early, ask often: “How well are we doing as an employer?” Become the employer of choice by creating a culture of continuous improvement. Create “partners” or “team members” rather than employees, with each person having collective ownership of results and pride in team accomplishments.


 

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