Keeping the People Who Keep You in Business

About the Author

Leigh Branham is Vice President of Consulting Services with Right Management Consultants, one of the world's leading human resources consulting firms. He has extensive experience in helping organizations improve employee retention and engagement. Branham is also the author of "Keeping the People Who Keep You in Business: 24 Ways to Hang On to Your Most Valuable Talent," a guide that provides actionable strategies to retain top talent in organizations.

Main Idea

The main idea of "Keeping the People Who Keep You in Business" is that organizations need to implement solid practices to retain their best employees by enhancing performance, motivation, and job satisfaction. Branham organizes these practices into four key areas that parallel the phases of an employee's life cycle in an organization: becoming a company people want to work for, selecting the right person in the first place, getting new hires off to a great start, and coaching and rewarding to maintain commitment.

Table of Contents

1. Be a Company People Want to Work For
2. Select the Right Person in the First Place
3. Get Them Off to a Great Start
4. Coach and Reward to Maintain Commitment

Be a Company People Want to Work For

To retain top talent, an organization must build a culture that models, encourages, and rewards commitment. This involves creating a reputation as an "employer of choice." Three essential practices are adopting a "give and get back" philosophy, measuring what counts and paying for it, and inspiring commitment to a clear vision and definite objectives.

"Successful retention starts with becoming a company that people want to work for." – Leigh Branham

Adopt a "Give and Get Back" Philosophy

Organizations that are serious about retention help employees balance their personal and professional lives by offering flexibility, such as flex schedules, job sharing, telecommuting, and reduced summer hours. Innovative companies also provide unique benefits that address employees' needs and wants.

• Qualcomm permits unlimited accumulation of unused vacation time.
• Valassis Communication gives new parents an infant car seat.
• Quick Solutions rewards consultants with a monthly professional housecleaning service.

Measure What Counts and Pay For It

Retention-focused companies use pay practices that drive performance and recognize contributions. Variable pay approaches, such as special recognition monetary awards, gainsharing, and winsharing, are effective strategies.

• Offer retention bonuses instead of signing bonuses, payable after a year or two on the job.
• Pay project completion bonuses to ensure employees stay until a critical project is completed.

Inspire Commitment to a Clear Vision and Definite Objectives

Employees need to be committed to achieving the right business goals and results. This can be achieved by involving employees in creating goals and objectives, being committed to the vision, and aligning company objectives with employee objectives.

• 3M encourages visionary leadership by allowing employees to lead the development and marketing of new product ideas.

Select the Right Person in the First Place

Hiring the right people is crucial for reducing turnover and ensuring organizational success. Effective recruitment involves redesigning jobs to be more rewarding, defining the talent needed, and creatively expanding the talent pool.