Employee Retention in Recession – Part II
My last post was about the importance of keeping your best people, especially in a recession. Today I’ll focus on what motivates an “A” player. These factors need to be in place in order for you to keep your top people loyal. “A” players are motivated to stay with you when they are:
- Inspired by your vision and leadership – make sure you articulate this clearly and stay positive in your communication.
- Impressed by your business plan – You do have one, right? A roadmap to success must be part of your plan.
- Part of a great team tackling a great challenge – an “A” player wants to be surrounded by other high quality teammates, who are operating at optimum performance.
- Believing in the company’s potential to succeed – would you bet on your chances? Your “A” players can calculate the odds too.
- In a stable, secure environment – have you been making people feel safe or not so safe in your comments about today’s situation?
- Able to make a difference, to count – because you have clearly spelled out their objectives and shown them how the achievement of those aligns with corporate goals.
- Have the right compensation – this is last on the list, because if the factors above are present, compensation becomes less important. The “right” compensation for a key manager includes incentives for their own performance objectives.
Take care of your people, mostly through excellent communication and the right attitude, and I believe they will stay loyal and take care of you!