What’s Your Retention Plan?

According to the AJC, Small perks carry weight around the office. That got me thinking about what I hear from friends and acquaintances about their workplace, and how they’ve handled the current economic recession. In the midst of budget cuts, it’s important to find ways to show your employees that you value them.

It seems like everywhere I turn companies are cutting out benefits, dropping perks, freezing salaries, and maybe even laying off some of their people. And in the midst of all of that they are going back to their best performers, the people they rely on to keep things running, and telling them they should feel lucky to have a job.

Now, don’t get me wrong, with this economy we are all lucky, to some degree, to have jobs, I admit that. And budget cuts are certainly needed. On the other hand, if you really expect your best people to simply sit and accept that while you continue to offer them nothing, you’re crazy. These people know they are good at what they do, and they know they have a job not because of luck and your generosity. You’re running a business, not a halfway house. They have a job because they bring value to your business. If you don’t offer them any incentive to stay, don’t engage them, and don’t show them some loyalty, someone else will. Granted, the opportunities open to folks in a recession are limited, but it only takes one for them to be gone. Can you really afford for your best folks to go to work for your competitors?

Maybe you should do more that tell them how lucky they are. They’re not lucky, they’re good, and you need to find some way to appreciate that.

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