Tuesday, March 7
I'm outta here!
Research shows that while employees can live indefinitely without a corner office, perks, or even assigned parking, the one thing they can't go without for long is recognition. In fact, the Society for Human Resource Management (SHRM) statistics show that 79 percent of people who leave their jobs cite lack of appreciation as one of the key reasons. That's not a few nuts, but 8 out of every 10 people who walk out the door are saying they didn't feel acknowledged by their boss.
For leaders, that puts turnover in a whole new light. It makes it personal. Employees aren't always leaving for more money. They often leave in search of a supervisor who recognizes their achievements.
Dr. John Sullivan, a researcher on employee motivation, has tracked the difference in salary between what former employees were paid at their old jobs and what they earned at their new firms. Says John, "The average salary differential was a little more than five percent."
Five percent! With taxes, that's maybe two more trips to Starbucks a month. And for the tall not the grande.
Few people will leave a great workplace for that kind of increase. But people do leave for good managers who provide them with challenges, opportunities and (most importantly) confirmation that they make a difference, supported by recognition and rewards. We love a quote by one of our heroes, Mary Kay Ash, the founder of the cosmetics giant. She said, "There are two things employees want more than sex and money: recognition and praise."
For leaders, that puts turnover in a whole new light. It makes it personal. Employees aren't always leaving for more money. They often leave in search of a supervisor who recognizes their achievements.
Dr. John Sullivan, a researcher on employee motivation, has tracked the difference in salary between what former employees were paid at their old jobs and what they earned at their new firms. Says John, "The average salary differential was a little more than five percent."
Five percent! With taxes, that's maybe two more trips to Starbucks a month. And for the tall not the grande.
Few people will leave a great workplace for that kind of increase. But people do leave for good managers who provide them with challenges, opportunities and (most importantly) confirmation that they make a difference, supported by recognition and rewards. We love a quote by one of our heroes, Mary Kay Ash, the founder of the cosmetics giant. She said, "There are two things employees want more than sex and money: recognition and praise."
