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Greetings
Tuesday is election day. Some states, like
Massachusetts, have specific requirements on
allowing employee leave to vote. Check the
regulations or give me a call. And encourage all your
employees to vote.
The economy is front and center on everyone's mind,
whether your business is struggling or doing well. In
this issue I have included information on what other
organizations are doing to survive the storm. As you
read this, remember, your organization is unique, so
other organization's strategies might not be for you.
Before you act, give me a call. I can help.
Rick Dacri
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| HOW EMPLOYERS RESPOND TO DOWNTURN |
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Last month, in response to the market crash, I
recommended that you increase your communication
to all your employees. As we find ourselves in a
severe economic downturn, employees are reacting to
the news of layoffs, tumbling 401Ks, and just plain
fear. With all that on their minds, you can expect a
decline in
productivity, an increase in grapevine chatter,
and even turnover as star performers jump ship for
what they perceive as safer grounds.
Be straight with your employees as to the state of your
organization's business. If things are going well,
reassure them. If they are not, tell them your plans.
In an October Watson Wyatt national survey of
employers, they found that employers are
increasing
their employee communication in the face of this
sour economy. The top 5 action steps
respondents
are taking include:
- Increasing communication to employees about
pay--
37%
- Increasing communication to employees about
benefits--35%
- Layoffs/reduction in force--26%
- Hiring freeze--25%
- Raising employee contributions to health care
premiums--25%
The challenge we all face is balancing what
needs to
be done to survive in this downturn, while still
retaining our star performers and maintaining an
engaged, motivated workforce.
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| REWARD YOUR STARS |
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Not all the economic news is bad. More
employers
are rewarding their high performing employees.
In a
national survey conducted by Hewitt, they found that
companies are:
- Reserving a portion of their salary increase budget
for their top performers (38 percent of those surveyed)
- Creating supplemental, discretionary incentive
pools for these workers (23 percent).
- Offering employees retention bonuses for a
specified period of employment (20 percent).
Similarly, Mercer found that organizations are
broadening performance differentials by granting
greater salary increases to their top performers.
The
highest-performing employees (15 percent of the
workforce) are expected to receive base pay increases
of 5.3 percent in 2008, compared with increases
of 3.4
percent for average performers (40 percent of the
workforce) and 0.7 percent for the weakest performers
(5 percent of the workforce).
It's clear: more and more employers are
differentiating
between their star performers and the rest of their
workforce. It is the right strategy.
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| SEXUAL HARASSMENT PREVENTION TOOLBOX |
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I have developed a toolbox that contains everything
you need to train your managers and employees.
Having personally trained hundreds of managers,
supervisors and employees on how to prevent sexual
harassment from occurring in their organizations, I
have designed this
toolbox to provide you these same training tools.
Call me at 207-967-0837 to learn more about this
inexpensive solution to your legally mandated training
requirements.
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| HAPPY THANKSGIVING |
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The demands of business and family life often
prevent
us from getting off the merry-go-round long enough to
acknowledge and appreciate the good things. Take
some time during this upcoming holiday season to do
so.
I'd like to take this time to thank you for your
continued
business and friendship and to wish you and your
family a Happy Thanksgiving!
Rick Dacri
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