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Employee Loyalty in Good Times and Bad

A recent Forbes article speaks to a new wave of employee confidence to which company executives should take note.  In an economy that continues to struggle (with slight improvements) – employees are finding their confidence and slowly emerging from the “I’m just happy to have this job” fog.  Companies need to recognize that to motivate their employees to not just work harder but simply stay on the job – incentives are critical.

The article discusses the need for companies to launch incentives before their employees launch themselves into a new job.  What’s unfortunate here is that companies do not already have these incentives in place.  While times of economic struggle often cause companies to tighten their belts — these are the times when incentive programs are needed most and instead of being cut – should be embraced and enhanced.

When employees see their co-workers packing up their desks and being walked out the door – they need to be reminded that despite tough changes – they themselves still have value and are needed at the company.  What some executives don’t realize is that employees do not inherently know this and need to be reminded often – which is exactly the type of impact incentives can have.

The author also makes mention of wellness programs.  Many companies have begun implementing wellness initiatives and are best served when they opt to tie it in with an overall incentive program.  Wellness and incentives are not mutually exclusive.  When tied together these two initiatives can further engage employees and remind them that the grass is not always greener.

Forbes Article

A Lot Can Happen in 60 Seconds

In sales and business in general, we are always looking for ways to generate leads, make connections, promote our business, and network. With social networking sites and online tools, it has never been easier (or more overwhelming) to get connected and be heard. But with all of the options – what is the best and do we really need to have our name associated with every site out there? The answer to those questions is subjective but certainly one thing is undeniable – you can’t ignore it (it’s not going away)!

Click here for a graphic representation of some of the things that happen every 60 seconds on the internet (and think about how many of them could positively impact your business if you were connected to them).

The Top Ten + 1

In the article “The Top Ten Reasons Why Large Companies Fail to Keep Their Best Talent,” I believe that the writer omits one very significant reason.  Rewards and recognition clearly play a critical role in keeping top talent at both small and large companies — but were left out of the article.  Companies that choose to ignore this fact will notice that it is a contributing factor to their best and brightest walking out the door.

The fact is, no matter what a person’s position within an organization, they want to be recognized and rewarded for their hard work.  Many companies will say, “Well, that’s why they get paid the big bucks.”   And on some level that is true.  But compensation only goes so far.  Employees inherently desire to be patted on the back for a job well done.

According to a survey conducted by the Society of Human Resource Management (SHRM),  voluntary resignations are rising – 90% of employees cite lack of recognition and feeling underappreciated as reason for leaving.

So, while the writer of the article makes many valid points, rewards and recognition simply cannot be left off the list.  The benefits of a carefully structured rewards and recognition program go well beyond employee retention to encompass employee motivation and goal attainment, customer satisfaction and retention, and more.

The Spirit of Pay it Forward

Recently in the news we learned that many anonymous donors are paying the layaway balances of families less fortunate enabling them to fulfill their holiday hopes.
(Anonymous Donors Pay Off Kmart Layaway Accounts)

What I like most about this story is the spirit of “paying it forward” that comes to life.  This concept, while often plentiful at the holidays, truly is one that can be applied year-round not only in one’s personal life but also in the work place.  The beauty of the concept is that the gesture need not be a grand one for it to leave a lasting impression on fellow employees or the organization as a whole.

I firmly believe that paying it forward in the workplace – whether it be offering to help someone with a one-time project, being a person’s back-up while they are out of the office, or sharing a positive attitude can be inspiring to others and inherently encourage them to pass it along.  Employers can benefit by encouraging these types of pay it forward acts of kindness as a work environment that fosters teamwork and support is a happier, more engaged place to be.

Maybe my sentiments are overly filled with the joy of the season but none of the things I mentioned cost any of us anything – and these are the types of rewards from which our co-workers and employers can benefit way beyond the holiday season.  So, embrace the pay it forward mentality beyond December and you may just reap the rewards yourself.