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Last newsletter we discussed why turnover is on the rise. Now, read on for ways to engage your key employees so they don't leave!
- Ann Clifford, President
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Dos & Don'ts
If a key employee quits and gives a two week notice, should I terminate them on the spot or allow them to work until the date they propose to leave?
(Answer provided at the end of the newsletter.)
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4 Keys to Retaining Top Talent
Employment is a two-way street. Employers want good employees and employees what to work for good companies. Are you providing your employees with an "engaging" work experience? According to the Center for Effective Organizations at the University of Southern California, the top 4 employee "must haves" are:
- A clear and compelling company strategy.
- An innovative environment low in bureaucracy.
- Challenging work assignments.
- Rewards based, in part, on how well the organization performs.
Your best defense to curb key employee turnover is to communicate clearly and frequently with them. Ask them how they feel about their job and if there is anything you can do to make it more rewarding or less stressful. Make positive changes that will energize their work experience creating increased motivation and loyalty.
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Positive Side of Turnover
As difficult as it is, turnover is not always bad. It can be an opportunity to revise an outdated position or to hire someone new with fresh ideas. To decrease the panic and pain associated with the resignation of a key employee, follow these advance planning tips.
- Transfer the knowledge.
- Cross-train employees.
- Document important procedures.
- Hire a support person to learn key aspects of the role.
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Safari Interview Tip To understand what motivates a candidate, ask of his or her last job, "What could your former company have done differently that would have encouraged you to stay?"
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Answer to Today's Dos & Don'ts
If a key employee quits and gives a two week notice, should I terminate them on the spot or allow them to work until the date they propose to leave?
Answer:
If a key employee quits and gives two weeks notice, should I terminate them on the spot or allow them to work until the date they propose to leave?
There are two schools of thought when an employee gives notice. The first (and safest) is to ask for the person's keys and tell them to gather up any belongings that same day. The second is to allow the person to stay through his notice period to tie up any loose ends. It ultimately depends on the person, the job responsibilities, level of confidentiality involved, and company culture.
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