3 Reasons Employees Cheat on You, and How to Stop Getting Dumped in a Hot Job Market

Tough times can hurt a company’s health, but in a hot market just as many hearts break. As of Quarter 1 2017, global economic indicators remain positive and the job market is on fire, leaving employers worried about their talent growing hot to trot for a new stable. A recent article by Fortune revealed that 89% of employers cited retention as a critical priority (Schwabel, 2016). This article, the second in our Love and Surveys series, outlines two of the six Commitment Indicators (the C and the L from CAPLET) that let employers know whether their workforce can be lured by higher paychecks elsewhere in a boom economy. Read on, because these tips for retaining good employees may prevent your best employee from doing the tango with your competition.

Retaining Good Employees – Lock Them Down, or Lose

Spark Some Loyalty Flame

What’s the number one reason people cheat on their partner? Boredom. As in any relationship, the longer employees go steady with their job, the more likely they are to take it for granted. It is human nature. Every so often, light up the loyalty flame by surveying employees to capture what interests them now (it probably changed since

Loyalty and commitment go hand in hand in every successful partnership.

When commitment truly exists, employer and employee alike foster a strong dedication to, and defense of the organization’s long-term brand, product, service, and potential. A targeted short pulse survey can surface what employees truly value, and what they don’t.  With those insights, budgets can be shifted away from low interest programs and benefits.

More importantly, surveys can expose how a company fares with the most discerning aspect of a person’s psyche: the ego. Nothing turns a lover, or an employee, off faster than ego bashing – find out how to boost it instead and their passion will burst aflame. The ego can be a delicate thing, and surveys can inform employers about the sensitive areas that they need to steer clear of to stay out of the danger zone. With knowledge of what turns employees on, loyalty won’t crumble at the first sign of the new hottie employer on the scene.

Connected vs. Controlling

Retaining good employees, just like in any relationship, depends largely on connectedness. Promoting cohesion with an employer’s mission, goals, values, and staff makes leaving harder. But cross the line to the clingy zone and efforts may backfire; inevitably the object of desire resorts to creeping on the down low.

For example, most job offers happen while the employee is currently at work. Does that mean that companies should monitor every non work-related website an employee visits on lunch break or interrogate them after an unexplained sudden absence? Consider the futility of trying to stop everyone who wants to leave. How much energy will it take to spy like a jealous lover? Do you want to control or do you really want to stay connected?

Surveys have the power to foster real connectedness. Pierce them in the heart with Cupid’s arrow by asking better

Employee Retention Idea #45: The Recruiting Aphrodisiac

When trying to cast a spell on the best talent in a hot market, the strongest love potion is knowing the strengths of the organization. The best way to determine this is directly from employees. During the recruitment process, ask potential hires what the strengths of your company include. Take note of what catches their eye. A good fit means understanding what your potential new hire values. Ask what they would want from their team or manager. If this is a superstar, make sure their answers are given directly to their manager so requests for constructive feedback or clear iteration of deadlines can be met on day one.  Gathering intel by marrying recruitment with retention helps a company know why it’s a heartthrob in the eyes of employees, revealing the recipe for the recruiting aphrodisiac.

Loyalty, connectedness, and retaining good employees find a delicate union in the intricate chemistry of love and employee surveys. If the boom economy has your company cowering in fear of your top talent falling out of love with you, email requests@retensa.com for some advice that will keep the employee-employer love alive like a steamy scene from 50 Shades of Gratitude, while leaving cheating for the romance novels.

Sources

Schwabel, Dan. (28 December, 2016). What Employers Will Worry About in 2017. Fortune. Retrieved from http://fortune.com/2016/12/28/employers-2017-employee-retention-unemployment/

 

How to Block the Competition from Poaching Your Sales Stars

When it comes to employee retention, salespeople can be quite a challenge. It is the Salesperson “Key Employee Retention Paradox”… When they are not performing, invest in training until they start cashing in the chips. Then when they do, the world discovers their success. Blink your eyes and they get poached, taking valuable relationships with them.

With the cost of turnover for salespeople higher than almost every other position, easily 5x to 20x of the employee’s salary, retaining good employees on the salesforce is where the shoe pinches many organizations.

To add more complexity to the mix, it is even more competitive to retain a top performing salesperson in technical industries such as finance, technology, life sciences, or pharmaceuticals. You need to find somebody with interpersonal skills, perseverance, and the competency to pass the licensing exams. And then they have to be able to articulate complicated concepts to a non-technical audience. Finding one of these people is like the search for the Holy Grail.

It is universal. Key employee retention, especially for technical salespeople, is a puzzle for most organizations. Here are three turnover solutions we bring to clients that consistently improve employee retention.

Give Them Training they Can’t Get Anywhere Else

Many organizations make the mistake of providing a training program to entry level salespeople and then assuming that once they become successful, the learning ends. In fact, the opposite is true. With more success comes more pressure and responsibility. Especially in a technical field, the customer’s demands become more sophisticated as the salesperson achieves success. The top talent is who needs the most training, not the least. If you’re not willing to provide these highly demanded employee retention strategies, the competition will.

Sell Them on Your Firm Like They are Long-term Customers

If you want to master key employee retention for your salesforce, you’ve got to sell your firm to them over and over again. Put on your sales cap and act as if you are selling a product (a job at your company) to your top performing talent. Giving special attention and time increases the chance they will join, and accept the company’s first offer. If he or she feels they are treated like the best customer on the planet it conveys that the company is committed to winning their trust over and over. This is how customer loyalty is created through the sales process. Listen to figure out what they really want, and then deliver it.

Research the Competition For Them

Sounds ludicrous, right? But if they’re successful, you know the competition is contacting them. So why not beat them to the punch and make the information available to them? It’s wacky, but by doing this you are assuming control. You gain the ability to explain the differences between your brand and the competition directly. You have the home court advantage here. And by the way, you may learn a thing or two about what your competitors are doing in the process.

Retensa has been in the business of helping companies improve employee retention to prevent their top salespeople from leaving for the competition for nearly two decades. As thought leaders in this field, we’re curious to hear your take on retaining good employees. How have you handled sales turnover at your organization? What’s worked well? Please comment below.