It's a Dog's Life (or The 3 P's)
I often wonder where they get the saying "work like dogs". My dogs just lay around all day long. When they are not laying around, they are playing. As far as giving the dog a bone, hell, they're damn near orgasmic delight chewing on one. Hey I wouldn't mind being a dog (though I'm not too keen about the licking myself part).
Now that I have your attention ... Sometimes we think a great compensation package is enough to entice and/or keep employees; but, more often than not, employees leave a company for less quantifiable reasons such as quality of life issues/incentives. Also, it would not be too farfetched to presume that quality of life issues/incentives also affect performance and productivity. Another compelling thought is what are the expectations and thresholds of quality of life issues/incentives prospective employees harbour (have)? How do employees prioritize quality of life issues/incentives? What costs, in terms of pay, performance and productivity, are quantifiable?
How much do employess value things like: having two days off in a row; comfortable headsets; comfortable seats; large enough monitors; nice office furniture; convenient, quick, and tasty food nearby; floating PTO day; easily understood and accessible insurance; challenge; change of pace; variety of tasks; enrichment; education; telecommuting; loyalty; location; etc. Although money is a very strong motivating factor (at least on a conscious level), quality of life incentives (particularly collectively) can be equally or more so when properly presented and leveraged in conjunction with economic incentives. What are things that you (your company) can do to minimize the switching cost coming into your company and maximize the switching costs leaving your company? How can you "get the most bang for your buck"? How much "bang for your buck" do you need to get to offset the costs of quality of life incentives?
In a very simplistic way, it could be said that if the employer and employee do not have the same expectations and thresholds for pay, performance, and productivity, given time and circumstances, the employer-employee relationship will not thrive, and, perhaps, not survive. When not properly checked, attrition can be a huge money drain on, eat away at competitive advantage and undermine long-term strategy of any business.
Last question: Why did you leave your last job (whether or not money was number one)?
I'm not going to go into any detail as this is simply a thought piece -- for you : ) Enjoy!
Now that I have your attention ... Sometimes we think a great compensation package is enough to entice and/or keep employees; but, more often than not, employees leave a company for less quantifiable reasons such as quality of life issues/incentives. Also, it would not be too farfetched to presume that quality of life issues/incentives also affect performance and productivity. Another compelling thought is what are the expectations and thresholds of quality of life issues/incentives prospective employees harbour (have)? How do employees prioritize quality of life issues/incentives? What costs, in terms of pay, performance and productivity, are quantifiable?
How much do employess value things like: having two days off in a row; comfortable headsets; comfortable seats; large enough monitors; nice office furniture; convenient, quick, and tasty food nearby; floating PTO day; easily understood and accessible insurance; challenge; change of pace; variety of tasks; enrichment; education; telecommuting; loyalty; location; etc. Although money is a very strong motivating factor (at least on a conscious level), quality of life incentives (particularly collectively) can be equally or more so when properly presented and leveraged in conjunction with economic incentives. What are things that you (your company) can do to minimize the switching cost coming into your company and maximize the switching costs leaving your company? How can you "get the most bang for your buck"? How much "bang for your buck" do you need to get to offset the costs of quality of life incentives?
In a very simplistic way, it could be said that if the employer and employee do not have the same expectations and thresholds for pay, performance, and productivity, given time and circumstances, the employer-employee relationship will not thrive, and, perhaps, not survive. When not properly checked, attrition can be a huge money drain on, eat away at competitive advantage and undermine long-term strategy of any business.
Last question: Why did you leave your last job (whether or not money was number one)?
I'm not going to go into any detail as this is simply a thought piece -- for you : ) Enjoy!
posted by Christina at 20:09
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