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  • Casual Articles - Employee Retention: When Is Your Next Key Employee Going To Leave And What Are you Doing About It?

    Business Ethics
    Companies these days are more concerned about ethics attached to their publicity, and among their shareholders and future investors. All around the globe, one can see that investment now seems to be more sensitive towards fair dealing and conducting of businesses. Ethical awareness spread during the era when companies' frauds are seen very often appearing in the newspaper and media around the globe including major stock listed corporations.Different nations now share common policies of interest to strengthen ties with other nations and their businesses then tend to grow more rapidly with th
    f the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    Advantages of a Franchise Business
    A Franchise Opportunity has numerous benefits over starting a business on your own. The major reason why it pays to become a franchisee is that you are much more likely to still be trading profitably after five years of trading. Over eighty percent of new start ups fail within the first five year!When one buys a business from a franchisor they receive a detailed training programme. This covers all aspects of running a business. The training programme is critical in ensuring that your business runs smoothly.It is the franchisors interest for the franchisee to succeed as then he receiv
    If you and your managers are doing your job right, you will be having regular 'one-on-one's with your key performers, part of which will cover their general job satisfaction and overall 'engagement' with the organization.

    Sometimes however, general busy-ness, or simply a lack of understanding of how to have such a conversation, means that managers fail to have such discussions, leading to the type of unpleasant surprise that no-one likes to get.

    Sidebar: It's often the very lack of such conversations between a manager and employee that builds (or at least stokes) the very frustration that ultimately causes the key performer to leave -- a real case of a 'double whammy'.

    Here's How To Stop The Surprises

    Use this simple Employee Retention Risk Analysis ("ERRA") process to help prompt your managers to regularly assess the 'retention risk' of key performers, and report back to you regularly - I suggest you get them to complete this at least quarterly.

    An important secondary benefit of completing this exercise is that it gives a structured environment for your managers to actually have this conversation with you -- you'd be surprised the number of senior executives who believe their 'open-door' policy means that managers will come in and talk about matters such as retention risk of key employees.

    The reality is that often they do not -- again, either through busy-ness, or just not knowing how to breach the topic in the first instance.

    Adopt this form and process -- make it your own -- and proactively prevent the loss of key performers in your organization, department, division or team.

    Step 1: Rank Your Key Employees

    The first step in the Retention Risk Analysis is pretty simple -- the manager ranks the individual according to two criteria -- their ability to get results, and their overall integration -- sense of 'fit' -- in the organization as a whole.

    (Note that we're not asking for granular data here -- just an overall sense of where the employee fits overall.)

    The easiest way to do this is to draw a simple '2 x 2' diagram, with the vertical axis representing the employee's results (low at the bottom, high at the top), and the horizontal axis representing their overall integration into the organization - low integration at the left, high integration to the right.

    • Quadrant 1
    Employees in Quadrant 1 (low results / low integration) are clearly in need of some form of intervention if they are to become productive team members.
    By completing the assessment above, you and their manager may come to the conclusion that little can be done to help a person in this quadrant, and you may start making alternative plans.
    • Quadrants 2 and 3
    Employees in Quadrants 2 and 3 are those where we have a decision to make -- they either perform well but don't align with the rest of the organization (Quadrant 2), or they fit in very well, but aren't producing the results (Quadrant 3).
    • Quadrant 4
    'Quadrant 4' employees are our stars -- high performers who also align very well with our culture and goals. This is the area where we need to be most sensitive to retention risk.

    It's important that you and the employee's manager take a realistic view of the retention risk of star performers and assess the steps necessary to ensure their retention.

    You might even want to involve the employee themselves in the completion of this part of the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    What Are You Waiting For?
    How many times have you had a thought about something but then not acted on it? It might be a concern you had or a great new approach that inspired you. Take a moment or two to list a few for yourself....I really should talk to him about... We should expand our business in... Why did he make that decision? It doesn't make sense to me... Why don't we process these invoices in a different way... Wouldn't it be great if... If we did it this way it would be much more efficient/reliable/effective Why do we need to send this to X every
    s the 'retention risk' of key performers, and report back to you regularly - I suggest you get them to complete this at least quarterly.

    An important secondary benefit of completing this exercise is that it gives a structured environment for your managers to actually have this conversation with you -- you'd be surprised the number of senior executives who believe their 'open-door' policy means that managers will come in and talk about matters such as retention risk of key employees.

    The reality is that often they do not -- again, either through busy-ness, or just not knowing how to breach the topic in the first instance.

    Adopt this form and process -- make it your own -- and proactively prevent the loss of key performers in your organization, department, division or team.

    Step 1: Rank Your Key Employees

    The first step in the Retention Risk Analysis is pretty simple -- the manager ranks the individual according to two criteria -- their ability to get results, and their overall integration -- sense of 'fit' -- in the organization as a whole.

    (Note that we're not asking for granular data here -- just an overall sense of where the employee fits overall.)

    The easiest way to do this is to draw a simple '2 x 2' diagram, with the vertical axis representing the employee's results (low at the bottom, high at the top), and the horizontal axis representing their overall integration into the organization - low integration at the left, high integration to the right.

    • Quadrant 1
    Employees in Quadrant 1 (low results / low integration) are clearly in need of some form of intervention if they are to become productive team members.
    By completing the assessment above, you and their manager may come to the conclusion that little can be done to help a person in this quadrant, and you may start making alternative plans.
    • Quadrants 2 and 3
    Employees in Quadrants 2 and 3 are those where we have a decision to make -- they either perform well but don't align with the rest of the organization (Quadrant 2), or they fit in very well, but aren't producing the results (Quadrant 3).
    • Quadrant 4
    'Quadrant 4' employees are our stars -- high performers who also align very well with our culture and goals. This is the area where we need to be most sensitive to retention risk.

    It's important that you and the employee's manager take a realistic view of the retention risk of star performers and assess the steps necessary to ensure their retention.

    You might even want to involve the employee themselves in the completion of this part of the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    Paying Attention To Your Customers
    Webmasters can easily whip up the most brilliant website, loaded with information, articles, links, and quality content. With this tool and that tool, they can create a website masterpiece, ready to display to the world. Then when the sales don’t come in, they are left wondering what more they could possibly do to their site that they haven’t already done. Well before throwing our arms up in the air, we must remember that the customer comes first, and that a website cannot just be a static, unchanging piece of work. Our websites have to engage the customer, entice them, and they must be intera
    simple -- the manager ranks the individual according to two criteria -- their ability to get results, and their overall integration -- sense of 'fit' -- in the organization as a whole.

    (Note that we're not asking for granular data here -- just an overall sense of where the employee fits overall.)

    The easiest way to do this is to draw a simple '2 x 2' diagram, with the vertical axis representing the employee's results (low at the bottom, high at the top), and the horizontal axis representing their overall integration into the organization - low integration at the left, high integration to the right.

    • Quadrant 1
    Employees in Quadrant 1 (low results / low integration) are clearly in need of some form of intervention if they are to become productive team members.
    By completing the assessment above, you and their manager may come to the conclusion that little can be done to help a person in this quadrant, and you may start making alternative plans.
    • Quadrants 2 and 3
    Employees in Quadrants 2 and 3 are those where we have a decision to make -- they either perform well but don't align with the rest of the organization (Quadrant 2), or they fit in very well, but aren't producing the results (Quadrant 3).
    • Quadrant 4
    'Quadrant 4' employees are our stars -- high performers who also align very well with our culture and goals. This is the area where we need to be most sensitive to retention risk.

    It's important that you and the employee's manager take a realistic view of the retention risk of star performers and assess the steps necessary to ensure their retention.

    You might even want to involve the employee themselves in the completion of this part of the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    Make Money Buying Books - The Ten Golden Rules
    The old truism never judge a book by its cover, could not be further from the truth.RULE ONE: NEVER PURCHASE A BOOK WITHOUT ITS JACKET. The simple answer is most of the value of the book if it is a first edition is, 75% less without its cover. Most Dust jackets are often removed and are often torn and discarded. A case to point was when I purchased a copy of the first Winnie the Pooh trade edition by Methuen 1926. I paid the Princely sum of three hundred pounds, and smugly congratulated myself on completing; the steal of the Century. I in my innocence believed I was about to make a for
    conclusion that little can be done to help a person in this quadrant, and you may start making alternative plans.
    • Quadrants 2 and 3
    Employees in Quadrants 2 and 3 are those where we have a decision to make -- they either perform well but don't align with the rest of the organization (Quadrant 2), or they fit in very well, but aren't producing the results (Quadrant 3).
    • Quadrant 4
    'Quadrant 4' employees are our stars -- high performers who also align very well with our culture and goals. This is the area where we need to be most sensitive to retention risk.

    It's important that you and the employee's manager take a realistic view of the retention risk of star performers and assess the steps necessary to ensure their retention.

    You might even want to involve the employee themselves in the completion of this part of the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    Supplier Selection and the Importance of a Style Match
    Any software package you buy on the market has had its production cycle. It started as a specific development for a certain company and it evolved from there onwards. Behinds this process, behind the functionality of this package are driving forces at work. The fundamental choices and options of the architects behind the solution.Once you know these forces, you will not only know what you buy, but also what you will end up in the near future. Behind any solutions there are fundamental choices that have been taken.There are so many options you come across when developing software, th
    f the ERRA form -- nothing says you care more than consultation about their future with the organization.

    Step 2: Estimate The Retention Risk

    Finally, have the managers complete a quarterly risk assessment, estimating the risk of losing key employees on a 1-10 scale (or any other scale you're comfortable with).

    Next, map the 'high-retention-risk' employees to the quadrants on your '2 X 2'. Are any of the high-retention-risk employees also in Quadrant 4 ('Stars')? If so, it's time to develop a specific retention rescue plan, customized to exactly that employee.

    What about Quadrants 2 and 3? Any high-retention-risk employees there? If so, can we use tools such as mentoring or coaching to improve their performance, or their integration, as appropriate?

    Conclusion: Use the ERRA Process To Avoid Unplanned Loss of Key Employees

    Sure, it's subjective, but guess what -- you and your manager's 'feel' for the retention risk of individuals will greatly improve just by doing this exercise, and you'll have much richer discussions about each employee as a result.

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