Updated: July 8th, 2008 05:26 PM EDT
Beyond compensation
By Dick Detmer
Rental Product News, June 2007
It's sad to see the anguish of sharp employees who enjoy their work, work hard to hone their skills - and then are forced to leave because they're certain there is no obvious way to rise to another level.
Remember that a clear career path is much more than the issue of increased compensation - it could be a question of employees wanting a new set of duties and responsibilities.
Don't discount the importance of a job title to some employees. We all have egos - and even humble people like to have this need fulfilled. Perhaps your employees don't see working for your company as a solid, long-term career move.
So, if you're experiencing more than your fair share of departing employees, here are a few questions to ask yourself:
- What can be done to have employees think of working for your company as a career - not just a temporary job? Have you clarified ways employees can reach their career goals at your rental business?
- Is it possible that you do have opportunities for advancement for certain employees but you have not shared this information with them?
- Do you have an effective training program? As I mentioned in the past, effective training and a real program for progress are essential to having employees view your company as a good place to invest years of their lives. Diagnose training needs and provide appropriate training. Remember, training is motivational.
- Do you have a meaningful incentives program? Very important, and often overlooked, do you give enough positive reinforcement? It's shocking and discouraging for an employee to be super-achieving and grossly underappreciated.
- Do you have a culture of rewards and a system that sets employees up for success? Develop and implement a true performance appraisal system. This is a vital ingredient. Employees need to know how they're doing very specifically. It's also important that management be trained in how to properly conduct performance reviews.
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