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Many business executives and owners view working hard to retain employees as simply good business sense.
Studies have shown the cost of recruiting senior developers and managers equals 20-25% of their annual salary. As an example, a company with 100 employees that has 10% turnover rate will easily spend $75,000-100,000 a year on recruitment. Executives, Owners and Management could and should invest that $75,000-100,000 in employee programs to create an environment where people want to come to work for the well being of their companies.
Globe and Mail :
"What he has witnessed, Mr. Smith says, is a radical transformation of his industry and a lot of the executive class. The world has flipped .. he says in an interview at the Bay street offices of his firm, Herman Smith International. Quite simply, today it is the candidates not the employers who have the upper hand. Companies have been sounding the alarm about the war for talent for some time. Mr Smith says the key to executive search is no longer selection but attraction. Most people are dissatisfied with their jobs, dissatisfied with their life."
Stated Quote Reprinted With Permission
From : Globe and Mail Newspaper
Article Date: August 28, 2001
Rethinking Productivity from a Workplace Perspective :
"In the global economy where the prices of goods and financial and physical capital are increasingly determined and fixed in the world markets, the main source of comparative advantage lies in the strategic use of human resources via the connection of workplace practices and productivity."
"Enhanced productivity that is generated through increased stress and loss of control at the workplace can be a false economy in the sense that it generates negative health outcomes and health expenditures. On the other hand, productivity improvements at the workplace generated through more positive mechanisms outlined subsequently can enhance compensation and job stability, which in turn can enhance health and well being."
" Most of the new workplace practices such as workplace well being programs had positive effects on employees ( satisfaction, tardiness, absenteeism, commitment, motivation, effort, performance) which in turn positively affected firm performance, productivity and competitiveness."
" In general, practices that led to more favorable employee attitudes in areas such as satisfaction, morale and commitment, also led to more favorable performance outcomes for the individuals and their firms."
Stated Quote Reprinted With Permission
From : Morley Gunderson
Work-Life Balance in the New Millenium. Where Are We? Where Do We Need to Go? :
"Some claim that work - life conflict has become less of a problem and that organizations have made progress in recent years. They in part attribute this shift to an alleged increase in corporate awareness in the need to focus on recruitment and retention of workers, and a perceived shift in employee attitudes towards work."
Stated Quote Reprinted With Permission
From : Linda Duxbury & Chris Higgins
Voices of Canadians / Seeking Work-Life Balance :
"Incentives to focus on the "people part" of their job (ie: measurement and accountability, 360 degree feedback) rewards focused on recognition of good people skills."
"To do this they need to reward output, not hours and what is done not where it is done. They also need to reward people who have been successful."
Stated Quote Reprinted With Permission
From : Linda Duxbury, Chris Higgins & Donna Coghill
How to hunt down and hold onto good employees :
Prepare for Challenges
"Your competition. Many skills are transferable to other businesses….. Balancing everyone's needs… Employees who are happy and committed to their jobs help maintain that balance."
Stated Quote Reprinted With Permission
From : Bakers Journal - Finders Keepers
Article Date: August / September 2002
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