Higher Pay Is Not Always the Answer

My previous two columns have focused on how good employees are being poached away from their current employer followed by the why, how and where to find great contributors to succeed those that have departed.

This column addresses how to mitigate the fact that you have good employees on the payroll that you wish to retain, but you can’t compete against companies offering a larger compensation package. It’s acceptable to admit you simply cannot afford to increase payroll.

Studies have suggested that ...

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Don’t look for good employees, search wisely for great contributors

When an employee has been poached away, where can you find their successor?

I use the word successor, because when someone resigns, the goal should be to find someone capable of making an even greater contribution than the person who has moved on.

Don’t just replace the person that resigned, find someone better.

Search with the goal of bringing new ideas, and new energy into the organization; someone who can build client relations, improve service levels and quality, generate stronger cash flow and ...

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They’re Poached Then You’re Punched

It’s a difficult thing when a loyal, dedicated employee walks into your office and tells you that they are resigning because they have taken a job someplace else.

It’s a punch in the gut, hard and unexpected.

Hearing those words, probably the last thing you expected, leaves you feeling like you are dying on the inside. On the outside you smile and wish the person the best in their career.

Resignations have always taken place but lately the pace seems to be picking ...

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What’s the ROI on Time Invested?

I’ve often been asked by top executives “Where should I invest my time?” and my answer is that it should be divided between the tactical and the strategic.

In my mind, this means time spent somewhat equally between the present and the future.

While it is fun and exciting to design a grand future for the company, if the current business is ignored, there might not be a future.

Spending too much time dreaming and hoping things will be better next month or ...

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Ownership Burnout Warning Signs

It’s only been eight weeks since the start of the New Year but it feels as if it has been an eternity.

Most owners I know work very hard. They rise early, are busy all day with meetings and calls, make many decisions throughout the day and leave work long after every one else has already arrived home.

Even after a long day, the brain of an owner can’t be turned off; they spend most evenings thinking about what didn’t get done, ...

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