Errors and Omissions

1
Preserving Your Investment in Key Employees
When Times are Tough Nancye M. Combs,
AEPSPHRPresident, HR Enterprise, Inc.P.O. Box
6507Louisville, KY 40206-0507 nancyecombs_at_aol.com
Grateful to Serve Leaders Throughout the World
Since 1986
2

• Traditionals
• Boomers
• Xers
• Nintendo Generation Y
• What Motivates ALL of Them?
• Childhood drives adult behavior Conditions they
  experienced shaped their lives

3

• All generations have similar values They just
  express them differently
• Everyone wants respect They just dont define it
  the same way
• They want to trust and be trusted
• People want leaders who are credible and
  trustworthy
• Organizational politics is a problem No matter
  how old (or young) you are
• No one really likes change
• Loyalty depends on the context, not on the
  generation
• Its as easy to retain a young person as an older
  one If you do the right things
• Everyone wants to learn More than just about
  anything else
• Almost everyone wants a coach
• Source Wilson Wyatt Survey

4

• Trust
• Respect
• Credible
• Trustworthy
• Enron Set the Bar as Low as We Go

5
Why Employees Leave




Inadequate Compensation 49.8No Opportunity
for Advancement 33.2 No Recognition
29.5Boredom 18.5Insufficient Benefits
14.5No opportunity for development 19.1
No job security 13.9Poor Manager
9.2Undesirable commute 8.6Incompatible
with corporate culture 7.5Poor working
hours 6.8Just not committed
4.7Co-workers 2.9 Source
Salary.com/2006/12,000 employees
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FACT OR FICTION?

• Inadequate Compensation 49.8 33.1 - Paid
  at Market 21.6 - Underpaid 14.8 -
  Overpaid 30.2 - Likely Over TitledSource
  Salary.com/2006/12,000 employees

7




Less than 23 are happy with Bonus PlanLess
than 30 are happy with non-monetary rewards,
such as recognition programs 78 of employees
are affected by Their workplace
environment Source The Conference
Board,2006
8
Success in Retaining KEY Employees
9
Show Me the MONEY
10
Why Employees Leave




Inadequate Compensation 49.8No Opportunity
for Advancement 33.2 No Recognition 29.5
Boredom 18.5Insufficient Benefits
14.5No opportunity for development 19.1
No job security 13.9Poor Manager
9.2Undesirable commute 8.6Incompatible
with corporate culture 7.5Poor working
hours 6.8Just not committed
4.7Co-workers 2.9 Source
Salary.com/2006/12,000 employees
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How Much Should you Pay?

• CHECK WITH RELIABLE SOURCES
• External surveys (Local Chamber, Your
  Association, Bureau of Labor Statistics)
• Published and custom survey data
• (Commercial, Industry Specific)
• Not all sites are reliable

Approach with Caution www.salary.com www.salaryex
pert.com
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Bureau of Labor Statistics

• www.bls.gov
• Left Side Bar
• Wages, Earnings and Benefits
• Wages by Area and Occupation

• State 375 Metro Areas
• Choose ST or City
• All Occupations
• Scroll to Category
• Pay attention to Median

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BLS Survey Data
This is market price
Job No. Job Title EEs
Median Average Annual Av RE
Watch out for this number it is misleading
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• Must include personal, division, company
• Must be credible
• Objectives that are tied to success
• Eligible employees clearly identified
• Payout can be novel
• Monitoring must be scheduled

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• Cash
• Tuition Reimbursement Self/Family
• Paid Time Off Vacation/Personal/Community Leave
• Auto Allowance Pay for Parking
• Logo Clothing
• Employee Cost of Medical Plan
• Health Club Membership
• Use of Company Owned Vacation Home
• Extra insurance Voluntary Life
• Banked Sick Time for the Future

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• Cafeteria Plan works best for all four
  generations
• Medical is still number one
• Retirement - 401(k) is still number two
• PTO is expected cap it.
• EAP is a standard for all generations
• Flex Time and Telecommuting improves retention
• Work/Life Balance is a way of life

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People Work for People

Understand How Leadership Power Works

• COERCIVE My Way or the Highway
• LEGITIMATE I am the Supervisor
• REWARD Windows and Views
• EXPERT He Knows What he is Talking About
• REFERENT Whatever he says I will do
• AFFILIATION My Dad Owns this Place
• CHARISMATIC He is Such a Nice Guy
• REACH FOR THE HIGHEST LEVEL MOTIVATOR

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• External Power Source
• Forceful
• Direct
• Unemotional
• Mean-Spirited
• Condescending
• Works well with Gangs and Mobs!
• Business application Emergencies
• I work for him because I am afraid of him

19

• External Power Source
• Direct
• Unemotional
• Empowered by Job Description
• Reminders are necessary
• Not a motivator
• Business application New Supervisors
• I work for her because she is the boss.

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• External Power Source
• Direct and Indirect
• Emotional
• Must be Viewed as Fair by All
• Empowered by Access to Rewards
• Reminders are visible
• Short-term Motivator
• Business application Appeals to all until need
  is met
• I work for him to get what I want.

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• External Power Source
• Direct and Indirect
• Unemotional
• Empowered by Access to People in Power
• Reminders are visible and subtle
• Short-term Motivator
• Business application Fear
• I work for him because his Dad owns the place.

22

• Internal Power Source
• Direct and Indirect
• Totally Emotional
• Empowered by Need to Belong
• Reminders are visible and subtle
• Long-term Motivator
• Business application Works when it is
  consistent and sincere
• I work for her because she is fun to work for.

23

• Internal Power Source
• Earned
• Intellectual and Emotional
• Empowered by What you know
• Reminders are visible
• Long-term Motivator
• Business application Works in every work
  setting
• I work for him because he KNOWS!

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• Internal Power Source
• Earned
• Emotional
• Empowered by Who you are as a person
• Reminders are visible
• Long-term Motivator
• Business application Works in every work
  setting
• I work for him because I respect him

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Human Resources Development
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• Educational Assistance is a given for Generation
  Y and Many Gen X
• Technology excites Generation Y
• Old Technology is a turnoff
• Pace of Change is exciting and fun
• Updating skills can be a career breaker

No opportunity for development 19.1
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Be the Chief Motivation Officer
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Communication

• Communication is No. 1 problem
• Employees want supervisor praise
• Employees want to feel they belong
• Employees want to talk about problems
• Employee opinions are untapped resource
• Effective Managers and Supervisors are
  Communicators

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What Employees Want from Supervisors

• Full Appreciation of Work Done
• Feeling in on Things
• Sympathetic Help on Personal Problems
• Source Validated Research - Business Legal
  Reports

30
Attitude Toward Performance Reviews

• Traditionals No news is good news
• Boomers Feedback once a year for documentation
  Crave recognition
• Xers Excuse me how am I doing?
• Yers Instant feedback at the push of a button

Silence is Not Golden
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Coaching is Essential
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Feedback Vs. Criticism

• Never assume an employee knows how
• Watch an employee perform the work twice
• Give employees FEEDBACK not Criticism
• FEEDBACK Information
• CRITICISM Opinion
• Become a Great Coach
• COACHING is continuous

33
Recognize Differences

• 2009 is a Changed Workplace
• Employees are Well-informed
• Sensitivity to Differences is High
• Diversity is Good for Business

Observe the Platinum Rule
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Is this the Place for Me?
2. Location
1. Reputation
Perfect Job
3. Compensation
4. Growth
35

• Need my email address to request something sent
  in electronic format?
• Here it is nancyecombs_at_aol.com

Enjoy Lake Tahoe!