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- EXTRA EDITION
Take your pick. Which type of place do you want to work at: One that is cold and gives you a sense no one cares, or one that makes you feel good and appreciated? Money and benefits are important, but studies show in the long run the work environment - the feeling they get when they come to work - is more important in retaining and motivating people.
People like a friendly place to work. The friendly-factor does not require a large investment and expense, but it does require time and thoughtful consideration. Take for example a construction equipment dealership in Louisville, Ky. Their turnover is almost nonexistent. This is quite an accomplishment in an industry facing a shortage of 100,000 technicians.
Their employees and service technicians share in a profit-sharing plan that could possibly mean $700,000 upon retirement. They are eligible to participate after one year and become fully vested after six years. No one has quit after becoming vested in this company. To further help his employees, the owner brings in a financial advisor to help the employees pick stocks, plan for retirement, or to get advice on buying a house or saving for a child's college education.
Other friendly-factor benefits:
Here are a few other friendly-factor ideas to consider:
Creating a friendly-factor work environment takes time, and it takes managers who truly care about individuals.
Gregory P. Smith helps create high performance organizations that attract, keep, and motivate their workforce. As president of Chart Your Course International he has designed and implemented professional development programs for hundreds of organizations globally. As a business growth consultant, he has helped business owners reduce turnover, increase sales, deliver better customer service, and reach long-term prosperity. He is also the author of Here Today, Here Tomorrow: Transforming Your Workforce from High Turnover to High Retention, The New Leader, and several other books. For more information, visit www.chartcourse.com or call 800-821-2487 or 770-860-9464.
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Publication date: 12/26/2005