Cut Turnover By More Than 90%….

Posted by Bernie Reifkind on June 28, 2017

No business or operation can afford to lose their top talent. The ultimate goal of any organization should be to recruit and retain their human capital.

Increasingly, it’s become a quite a challenge for organizations to keep good people.

The costs associated with talent turnover with regard to employee morale and real dollars is potentially devastating to the substance and growth of any organization moving forward.

How can one expect to build a successful company if employees are coming and going?

When the work environment is essentially a revolving door, it’s virtually impossible for organizations to maintain any momentum. Instead of focusing on the larger goals, managers are forced to retrain new employees constantly, as well as keep their other workers engaged.

Successful employee retention can bring an organization to new heights, weather potential storms and most importantly generate substantial employee morale in which everyone benefits. This translates to potentially much stronger revenue generation.

Premier Search  the nation’s leader in successful recruitment and placement of key professionals has concluded that many factors are relevant with regard to employee retention.

It’s all about the relationships between management and employees. As in any relationship, treating employees with respect and dignity is critical to retaining happy employees. Research continues to show that employees who do not feel respected by their employers are over 3 times more likely to leave their jobs within 2 years than those who feel they are treated respectfully.

More than 90% of employees (who are changing jobs) say that they do not receive proper acknowledgement for the work that they do.

When one feels recognized, we feel more motivated to succeed.

Here is How to Keep Your Best Employees:

  1. Acknowledge all employees for their accomplishments (when appropriate) and provide them with the freedom to use their judgement
  2. Appreciate employees in frequent and creative ways, such as public awards or time off
  3. Solicit employees to find on how they can be more successful and then put words into action.
  4. Encourage employee’s ideas.  Sometimes the solution to problems or business growth ideas are known by employees
  5. Provide employees with helpful coaching and timely feed back
  6. Be inclusive with employees and value their input.
  7. Encourage full communication without fear of negative consequences
  8. Listen to employee’s complaints and mitigate immediately concerns if possible.

In summary, your employees should feel valued and proud of the work. This will not only do wonders for your employer branding strategy, but will immediately reduce your turnover rate. Develop a work culture that encourages diversity and creativity and put in place effective anti-discrimination policies that promote flexible working, where possible.

Creating a strategy for staff retention is not always easy, but it will greatly benefit any organization.

 

Bernie Reifkind is the CEO and founder of Premier Search, Inc. a nationwide executive search and placement firm.   In addition, Bernie provides career guidance and strategic interviewing techniques to professionals at all levels.

P: 1(800) 801-1400  or email at ceo@premiersearch.com.

Career Reboot: 5 Steps to Freedom

Posted by Bernie Reifkind on May 18, 2017

Sometimes our computers or smart phones get stuck.   Ugh.  When that happens, tech repair professionals will usually tell us to reboot our device and see if the problems disappear.  So we shut down our device and flip it back on.   And voila, like magic our device is back is back up and running.  (At least for the time being.)

Sometimes our careers can feel stuck.  Things jam up or slow down. We feel trapped.

When that happens maybe a career reboot is the cure.

So how do you reboot a career?

Here are 5 steps to rebooting your career:

  1. Wake up!

Take some inventory about where you are in your career.  Things always change. How aware are you about these changes?  Have things changed in your industry? Of course. There are trends in every industry and the easiest way to find out is to ask people how they see the future.  Are you reading? Are you watching? Are you asking?  In any industry, we must take a proactive approach to maintain awareness of what is going on.  So open your eyes to what “is” and not what “should be.”

  1. Complacency is a trap.

Take a shot.  If there is something that you want or need, go get it.  Trust yourself and accept any fear that you may have.  Do you want to change jobs?  Do you want to go back to school?  Do you have an idea that you would like to offer to your boss or to the world?  Fear is powerful, but so is success.  Fortune favors the bold.  If you are waiting for the right time, that is delusional thinking.  There’s never the right time to do anything.  Give yourself permission to want more out of life.

  1. Accept the possibility of rejection.

Rejection is a reality of life.  Someone says no to your idea or need? So what; keep going. Rejection is an imposter.  Why not convince yourself that rejection is a part of life no different than the seasons.  Rejection can feel personal, but it rarely is.  If you are a sales person, rejection is built into the equation of your job.  But in reality, rejection only means that you have to maintain persistence until acceptance.  Acceptance can be just around the corner.  Rejection is simply a temporary nuisance.

  1. Trust yourself, fully.

No one has the formula for success.  So trust yourself regardless of what others think. Look back at your accomplishments in life and break it down into smaller decisions that you had to make along the line.  All accomplishments are achieved with some element of self-trust.  Try this:  believe that you are able to accomplish the things that you want to do for yourself.  Do not fall into the trap of listening to other people’s opinion.  Belief in a possible outcome can only come from completely trusting yourself.

  1. Take action right now.

Do something right now.  What are you waiting for?  Re-booting yourself can be a process in which you take action a little bit each day.  What small step can you do right now to make a make a dream come true?   Read something that might help.  Make one phone call to find out the information you need.  Write a sentence.  Fix your resume. Do 10 minutes of research.  The point is to do something no matter how small or trivial.

“Nothing happens until something moves.”- Albert Einstein

So today, make something move.

Job Changing? Don’t Do It Just To Make More Money

Posted by Bernie Reifkind on March 27, 2017

It is very common for people to seek new jobs for the sole purpose of making more money.  However, If the sole purpose is to make more money, it’s a losing position.

This is not to say that wanting to make more money is fundamentally wrong.  The problem lies in more money being the only reason to make a job change.

Don’t do it.

Obviously the money factor is a key element in any decision to change jobs, however other key factors should include a clear picture of a new boss, career advancement opportunities, position expectations, shared values, commuting time, job title, etc.

In addition, one must always remember that in making career choices or job changes – building a compelling resume should also be on the agenda.  A solid resume is an investment for the future.

Changing jobs only to make more money may seem like a good idea…………..but at what price?

To think that making more money is the ultimate reward in a job, isn’t always true. Sometimes there are risks associated with changing jobs for more money that we simply would not want to take if we think about them in some depth.

  • A prospective employer may see you as a risky job hopper and your time on a job with any company as just another temporary stop. The moment another employer offers you more money, you’ll hit the road, Jack.  Employers frown from hiring perceived “unstable” candidates, whether or not it is true.  Too many job changes on a resume can make an applicant appear unstable.
  • This will be an even greater problem if the caliber of your performance doesn’t match your level of pay. Having a job, any job, isn’t just a matter of increasing salary; it’s also important to increase your skills and abilities to match.  If a new job is offering pay that is out of proportion to the depth of the job, it could be a warning sign. The job could be a revolving door, the type that no one stays at for much more than a year or two before quitting or being fired. The higher pay may be an incentive for a job that simply isn’t doable.
  • In some industries the only way to make more money is by relocating to take another job. While that might produce higher pay, it’s important to recognize that there may be risks to relocating. The new employer may pay your relocation costs, which is certainly attractive. But they may require you to relocate from a large, diversified job market to much smaller one.  But what happens if the new job doesn’t work out? The loss of your job in the new location could force you to relocate again – only this time you will be paying for the relocation yourself. Consider the change in your life style in chasing higher pay will be worth a higher salary. You may be leaving family, friends and a familiar environment in favor of a place where none of those advantages exist.
  • Finally there’s the issue that we don’t think much about when we are looking for higher pay, and that’s job satisfaction. You’ll probably be working at least five days a week, for at least 50 weeks out of each year. That’s a lot of time on the job, and that’s why job satisfaction so important. One may be better off in a lower paying job with higher job satisfaction, than a higher paying job with less satisfaction. The higher paying job may help you to pay your bills more easily, but it still may not be worth it if each and every day on the job is a struggle.

Oh, and one last piece of wisdom.  Seeking a new job to further a well-planned career is always a good idea.

But to constantly search for a new job to just to make more money is a dead end proposition.  You’ll never make enough.

Top 5 Ways to Recruit From Your Competition

Posted by Bernie Reifkind on March 8, 2017

Successful businesses are built around one simple, undeniable truth.  The organizations with the best employees win.

Period.

If your competitors have better key employees (then you do) than you’re probably getting beat.  Better employees equals better performance which equals greater success.

Maybe it’s time to recruit your competitor’s best people.

Let’s get real.  If you are running a business, you are in it to win it.  Otherwise, take your ball and go home.

There are times when you have to do battle with the competition.  That’s part of the game.

Business is war.  In war as is in any fight, you fight to win.  If you do not win, you lose.

The stakes have never been higher when it comes to human capital. Recruitment of the very best key players in any organization is key.

Is it ethical to recruit from your competition?   Maybe, maybe not.

Here are the top 5 ways to recruit from the competition:

  1. Use a third party recruiter. A recruiter’s job is to present the very best people to their employer client.  If an applicant that works for your competition is presented by the recruiter and wants to interview with you, then do it.  We live in a free country. If your competition lodges a complaint about poaching their employee, blame the recruiter.  Then keep trying to recruit their best employees.
  2. Ask your staff who they compete against. Your staff knows who the best key players are.  Identify who they are and then ask your staff to arrange a lunch meeting.  A friendly “sit-down” to meet and exchange ideas as colleagues. During the lunch meeting, make sure the CEO or top person in your organization shows up at the lunch.  Imagine a CEO showing up at a carefully designed recruitment lunch? Let the recruitment begin.
  3. Have the CEO call the person directly. Do not delegate this.  The call should come from the CEO or top hiring authority.  It’s the epitome of flattery to be called by the chief.  If you can obtain a cell phone number, great.  If not, then call them at their office.  Introduce yourself and ask the following solid gold question: “Do you keep your eyes and ears open for good opportunities?” If you hear yes, then invite this potential applicant for a lunch meet and greet.  Ask the candidate to assure you that all of this remains confidential.  If they ask why do you want to meet?  Let them know that as a shrewd business person, you make it a point to know to meet the most respected people in the field.
  4. Recruit the #2 employee. In almost every situation, a key person might be standing in the way of a “dynamo” in the #2 position that is aiming for that person’s job.  During an interview, you might find out that someone else’s #2 key employee might be trainable or already have the skills that you need for a great hire.  Do not underestimate the #2 person, who might be extremely motivated and is being restrained in their current role.
  5. Follow the competitor’s key employee on social media. Find out what their “hot” key is, so to speak.  Contribute, provide value, say hello, become friendly to the point that eventually perhaps you make the effort to meet for a cup of coffee, of course confidentially.  Think of this as a long term seduction process, and very powerful.

 

Employers: Do You Have a Stale Employee?

Posted by Bernie Reifkind on February 14, 2017

If so, why do you retain this person?

Consider this. When you go to the market would you ever intentionally buy stale milk with an expired “use by” date?

Of course not. Nor would you keep stale milk. After a while it smells.  Even if food is presumed to be stale, we of course toss it immediately. No one wants to risk getting sick.

So in the context of running a business, why then would an employer keep a stale employee?

What makes for a stale employee…… and more importantly why hold on to someone who has passed their “expiration date”?

A stale employee can be measured by their current effectiveness and by their current results.

To be fair, stale may be too harsh of a label. Some people need a proverbial kick in the pants to remind them why they are employed. But too much kicking can be sore to the foot.

These are the mighty two:

• Current effectiveness
• Current results

If you are employing someone and they are no longer effective or even if they’ve become a nuisance, than perhaps that employee is stale. Have you seen current and meaningful results rather than past glories?

Things change and what an employer may have needed in the past is maybe not what is needed or relevant currently. Can it be utterly gut wrenching to come to the conclusion that an employee has become stale?

Yes of course.

However think about if the situation were reversed. If your organization was becoming stale to an ambitious employee, that same employee would no doubt be looking for greener pastures.

With growth, comes growing pains. A stale employee can be an impediment to the growth or profitability to your company. When that happens a stale employee needs to be replaced with a fresh blood.

Someone with new ideas, new energy and a new style can be the steroid needed to explode your company to even higher levels of productivity and profit.

Once an employer realizes that an employee is stale, there is an enlightenment that follows.

In addition, there can be much new excitement that your organization is once again back on track to accomplish its mission for even being in business.

What to do next?

Begin a confidential search for a replacement. Maybe there is someone on your team that you may have been overlooking that has the right skill set and can step up to the plate.

Pay attention to anyone on your staff that you could imagine in a different role. Sometimes, the answer is right in front of our noses.

However, many times the situation calls for bringing in a trusted executive search professional to see what kind of talent might be available.

Either way there are costs involved in replacing a key employee. But there is a far greater cost in keeping a stale employee.

The investment in a fresh new staff member or a manager pays dividends. It also reminds your other employees to not lose sight of their own responsibilities.

Lastly, you may gain some additional respect from your colleagues and how can that be a bad thing?