From the category archives:

Economy

Is He Sending Mixed Signals?

November 12, 2010 · 0 comments by Terry Lauter Comp

He wants you to go out and treat yourself, but last week he told you to save for the kids college fu]nd.

He wants you to get a job, but last week he told you that you don’t stand a chance against the zillions of others with better qualifications.

He says he’ll change, but he seems to take five steps backwards every time he’s making progress.

Who is he?

He’s the Economy.

And he seems to be sending us mixed signals from day to day.

A November WorldatWork article noted that November job growth will bring small gains in hiring compared to last year. This was according to a monthly survey of more than 1,000 companies in the U.S. Manufacturing and Service sectors who will see the fruit of these gains.

But then there it is again – the reality check. “Widspread unemployment is expected the remainder of 2010,” the article reminds as if to say – “Don’t get too excited.”

With all the back and forth in the media (and maybe your own finances), you may be finding yourself in one of two categories:

The jaded skeptic. “The recession over? Yeah right, that’s what they said last month… Big government is just trying to persuade the public into spending.”
The hopeless romantic. “The recession’s over! Yesss. Time to start scheduling retirement plans.”

Or perhaps you’ve caught yourself bouncing back and forth between the two – wondering if you’re on the brink of a bipolar diagnosis.

We don’t blame you, but extremity may not be so healthy. It IS possible to see reality with a hint of a silver lining. JOBS are being created. We can’t lose perspective that a year ago this time, jobs were dropping (… yes, like flies).

Take the good AND the bad news with a grain of salt.

Stay focused, continue to practice smart spending, keep your guard at the ready, remain realistic but DON’T dismiss hope. He’ll come around…

{ 0 comments }

Keep it Perky

October 14, 2010 · 0 comments by Larry Comp

in Benefits, Economy, Employee Communication, Feedback

Fancy travel. A VIP parking spot. Fruit baskets. What perks are you offering your employees?

MEANINGFUL perks matter when it comes to attracting and retaining top talent, especially in the current financial environment.

Problem: Rewards like executive parking, first class air travel and country club memberships often create or expand the gulf between employees and their managers, while sending the wrong signals in the current climate. And employees can see through those petty make-up gifts like fruit baskets or restaurant gift certificates (which were obviously donated to the company).

Solution: Make it personal. thankyoucard Leah Shepherd at Workforce Management notes that employers are focusing on nonfinancial rewards and customizing recognition at the local level.

“The personal touch always makes the reward seem sweeter-especially when there’s little or no money attached,” she writes in this (link) article.

Some of those localized perks may include:

Paid days off
Lunch with senior executives
Personalized thank-you messages from supervisors or fellow employees
Flexible work schedules
Personal artistic tributes

In Shepherd’s article, Theresa Chambers, chief motivation officer for Recognition Works in Seattle, is quoted as saying: “What I’m seeing is less focus on formal awards and more on building a culture of appreciation on a local level.”

Another idea is to focus on perks that will enhance executive’s health, productivity, security and financial well-being. Those perks might include:

Physical examinations
Reasonable change of control benefits
Severance and outplacement provisions

The importance of hiring, motivating and retaining top-notch, well suited executive talent cannot be overemphasized. Good executives outperform averages ones and exceptional executives can make the difference. In the aftermath of the recession where employees have just about had all they can take, this is more true than ever.

Reward your execs with perks that matter.

{ 0 comments }

Keep the Hot Ones

February 15, 2010

Whether you see it or not, your organization may be in danger of losing some of its top performers.
So Brandon has been with you six years and his performance ranks among the best. Because of this, you have been able to offer Brandon above average annual salary increases. He also likes working for you.
However, when [...]

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To Leave or Not to Leave? That is the question.

February 2, 2010

We all want a purpose in life, don’t we?
Who wants to sit at a desk every morning, not knowing why he or she bothers going to work every day?
Sadly, it’s a mentality that is plaguing more and more high-performers whose development aspirations went out the window with their company’s profit.
According to a survey conducted by [...]

Time for a Compensation Check-up?

October 30, 2009

How can you tell if your Compensation Program is working?
The first clue is whether or not the organization is meeting its short and long-term financial goals. Even in these tough economic times, financial performance provides some good clues.
If not, SYMPTOMS might include:
1.    Difficultly attracting/retaining your TOP performers, while less productive ones “stay put.”
2.    Lack of focus from employees [...]

Bad times can make you bitter or better

July 23, 2009

I have long been a fan of the “Wizard of Westwood”, Coach John Wooden. The legendary UCLA basketball coach’s phenomenal achievements in basketball probably pale in comparison to his contributions as a teacher and developer of young mens’ character. Wooden still to this day uses maxims or “Woodenisms” to teach important principles of life. One seems [...]

In a Recession: Recognize & Retain Your Star Performers, Part V

July 13, 2009

By now, it’s a foregone conclusion: Top performers should not be taken for granted or lumped into the mix, and then rewarded like the many “average” performers each organization has on the payroll roster. This truism applies even for continuing or enhancing cash compensation components, when many businesses have limited financial resources.
Therefore, savvy leaders are focusing on [...]

In a Recession: Recognize & Retain Your Star Performers, Part IV

July 10, 2009

Research tells us consistently that top performers outperform average team members by a ratio of at least 3 or 4 to one. If you take a moment to do the math, the implications are simply staggering. How could a prudent leader allow his or her super stars to languish among the troops at a time [...]

In a Recession: Recognize & Retain Your Star Performers, Part III

July 8, 2009

As the economy continues to slowly churn, many organizations have made their cuts, and are now turning their attention to the survivors. While these folks may be glad to have a job, some of the star performers may be waiting for the turn-around to make their get-away. If they haven’t been recognized for their extra [...]

In a Recession: Recognize & Retain Your Star Performers, Part II

July 6, 2009

Last post, we discussed the fact that “pay for performance” or “rewards for results” is still a myth in many segments of corporate America today. While most companies have a vital few who are achieving most of the goals, we are realistically not recognizing and rewarding these individuals in a way that will ensure their [...]

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Economy

Is He Sending Mixed Signals?

Keep it Perky

Keep the Hot Ones

To Leave or Not to Leave? That is the question.

Time for a Compensation Check-up?

Bad times can make you bitter or better

In a Recession: Recognize & Retain Your Star Performers, Part V

In a Recession: Recognize & Retain Your Star Performers, Part IV

In a Recession: Recognize & Retain Your Star Performers, Part III

In a Recession: Recognize & Retain Your Star Performers, Part II

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