Don’t take your finger off the pulse, incentives are still required!

In a slow economy, employees have fewer opportunities to take a job at another company, but entrepreneurs would be remiss to take their fingers off the pulse of company morale simply because employees have fewer options. “Companies that don’t think about employee incentives and basically rest on their laurels and think ‘the economy means fewer jobs therefore, where are they going to go?’ Are the companies that, as soon as the labour market picks back up will see their turnover rates going from 5 % to 50 % and it will happen overnight,” says Mark Murphy, author of The Deadly Sins of Employee Retention and CEO of Leadership IQ, a Washington D.C.-based executive education firm.

So what’s one of the biggest reasons people quit their jobs? One of the major reasons is being dissatisfied with their supervisor. In the cramped confines of a small business, with the pressures of work, the relationship between employees can be tested on a daily basis. In bigger companies there are more opportunities to move to other jobs if you’re dissatisfied with a particular supervisor, whereas smaller companies may have less options so they run the risk of losing the employee.

3 thoughts on “Don’t take your finger off the pulse, incentives are still required!

  1. Matt Turro

    I precisely wished to appreciate you once again. I’m not certain the things that I would’ve used in the absence of the type of thoughts discussed by you concerning such a concern. Completely was the hard difficulty for me, nevertheless seeing the professional approach you dealt with it made me to cry for gladness. I will be grateful for this guidance and even sincerely hope you realize what an amazing job you happen to be putting in training most people by way of a site. Most probably you have never encountered any of us.

    Reply
  2. Logan

    In a television interview on Sunday, the david cameron day of the Sept.
    Both leaders espouse an inherent faith in the ability of the UK
    as summit chair.

    my homepage; arrogant; Logan,

    Reply
  3. Nick Ridgley

    Right here is the perfect webpage for anybody who wants to understand this topic.

    You realize a whole lot its almost hard to argue with you (not that I really will need to…HaHa). You certainly put a new spin on a topic that has been discussed for years.
    Great stuff, just great!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>