As holidays are around the corner, it is about time to reward our “A” players and recognize their contributions. The question is what are we going to reward our “A” players or “A” team under a recession? What if the financial strains do not allow us to raise the pay scale? This ABC News video offers some good suggestions to deal with such dilemma.
1. Be open, honest, and transparent with the employees. Be frank with them about the company’s financial status. Associations are smart. They know what is going on with the company. Let everybody focus on the long-term profit-sharing plan instead of pay raise for the next year.
2. Don’t skimp on recognitions. Recognitions do not have to be big, but they need to be done throughout the year in various ways.
3. Reward your “A” players publicly. By doing so, we not only let our “A” players feel good but also enforce the desired behaviors among employees.
4. Design creative and fun recognition programs. A free car wash, a spa treatment, and paid days off are some good examples.
5. Change a person’s title without increasing the pay.
Companies understand that usually “A” players are among those who leave the first. Letting “A” players see the opportunity of growing with the company or building something with the team becomes critical in keeping them motivated. On Wednesday, managers at Archon Hospitality informed our hospitality students their company’s sign-in bonus program and the training-developing opportunities. In the end, Archon interviewed 23 candidates. On Thursday, the HR Director at the Sheraton Syracuse University Hotel and Conference Center (Sheraton SU) also emphasized the importance of retention management for a hotel in my Human Resource Management class. Sheraton SU is able to keep a low turnover rate by treating employees with respect, recognizing outstanding performers on a monthly basis, and using a bonus plan linked with Guest Service Index. These suggestions and practices are all very helpful. What do you do to keep you “A” players in your team? What motivates you at work?
1. Be open, honest, and transparent with the employees. Be frank with them about the company’s financial status. Associations are smart. They know what is going on with the company. Let everybody focus on the long-term profit-sharing plan instead of pay raise for the next year.
2. Don’t skimp on recognitions. Recognitions do not have to be big, but they need to be done throughout the year in various ways.
3. Reward your “A” players publicly. By doing so, we not only let our “A” players feel good but also enforce the desired behaviors among employees.
4. Design creative and fun recognition programs. A free car wash, a spa treatment, and paid days off are some good examples.
5. Change a person’s title without increasing the pay.
Companies understand that usually “A” players are among those who leave the first. Letting “A” players see the opportunity of growing with the company or building something with the team becomes critical in keeping them motivated. On Wednesday, managers at Archon Hospitality informed our hospitality students their company’s sign-in bonus program and the training-developing opportunities. In the end, Archon interviewed 23 candidates. On Thursday, the HR Director at the Sheraton Syracuse University Hotel and Conference Center (Sheraton SU) also emphasized the importance of retention management for a hotel in my Human Resource Management class. Sheraton SU is able to keep a low turnover rate by treating employees with respect, recognizing outstanding performers on a monthly basis, and using a bonus plan linked with Guest Service Index. These suggestions and practices are all very helpful. What do you do to keep you “A” players in your team? What motivates you at work?
As we learned in class watching the video about the children of the millennium, retention can be one of the factors that most hinders an effective operating system. It might easy enough to attract applicants and employees, but when it comes to keeping them I think the final point: giving them a job title without raising their pay is most effective. Not necessarily just the job title in particular, but it's so important to create an environment in which you are working WITH your employees; not one in which they are simply working for you. At the end of the day, unless you own the business, you are both just trying to do what's best for both yourselves and the company- so why not work together. I believe that giving each employee a role and making them feel like they can't be replaced, while also using the incentives you mentioned above, you will be able to create not only a happier work environment, but a more productive one in which employees want to work hard, and more importantly- a work environment they won't want to leave. If employees feel like they are doing something -especially something important or specific- they feel like they have a "place" or a role that they won't necessarily find elsewhere. It's not just about pay anymore, I don't think- it's about feeling important and having THAT job.
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