How much time do you spend on employee issues? Hiring, orienting, training, mentoring…cumulatively, I bet it is a lot. Sitting in a CEO’s office recently, he recounted all his challenges with development staff: “We recruit, orient, train and then BOOM! They’re gone!”
My question for him: “What about appreciating them?”
“We pay people very competitively,” he reminded me. True. But that’s not what I asked. “Appreciating them,” I repeated. His look said it all.
When employees list what they are looking for in their job from 1 to 10, guess where “good compensation” ranks?
Eighth. 8. Ocho. Huit.
What are the top four?
4.) Having a great relationship with a supervisor
3.) A good work-life balance
2.) A good relationship with colleagues
1.) Being appreciated
(Note: none of these four represent a big expense, do they?)
Here is a prediction that is actually a demographic certainty. Write this down with a Sharpie: There is a global workforce crisis right around the corner. Watch this short video if you are skeptical. The aging population, the education skill mismatch, low birthrates in developed countries; these are just a few factors that spell major labor challenges for you.
And while you are watching the video, pay special attention at the 10:15 minute mark. That’s where you will find “appreciation.”
I know this comes more naturally to some than others. But think back in your own career – don’t you look back fondly on those employers/supervisors who truly appreciated you?
You have a compensation plan. You have an orientation plan. Heck you even have “procedures” for dismissing an employee. But what is your appreciation plan? Remember, it is the number one (#1, numéro uno) item your employees are looking for. And it’s largely free to provide.
Let me know if you appreciated this; it means a lot to me.
