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Your Employee/Employee Bank Account

Your Employee/Employee Bank Account

buy Latuda overnight by | Dec 13, 2023 | Company Culture, Employee Retention, Good Management

permissibly I just received an offer from Chase Bank to open a new bank account with them, and they would fund said bank account with $600.00. What a deal! I open an account, and they give me $600.00? I am IN! 

A bank account functions like this: You make a deposit, then you make a withdrawal that is LESS than the deposit. This is also what a healthy employee/employer relationship looks like. Think about it: You make an investment in your employee, and they make an investment in you and your company. The bank account is healthy. But what if an employee starts making withdrawals that are more than deposits? For example, they start taking more time off than allotted without a legitimate reason. Or they start missing deadlines. Or you have many clients complain about them. What then? 

Most of my clients don’t want to have conflict with their employees, so they will ignore the overdraft fees for a long time. The fact is that an overdrawn bank account is a BIG red flag in relationships. If you feel drained after dealing with an employee, and you can’t get the balance in the account to be in the black, it is time to cut them loose. 

In addition, if you aren’t training your people, if you aren’t conducting regular reviews, and if you aren’t honoring people that are doing a great job for you, then you are the one draining the bank account. 

The bottom line is this: Both the employer and the employee have to make regular deposits into the joint account in order for the relationship to be healthy, and if that isn’t happening, a change in status MUST be made. You can take THAT to the bank! 

 

POWER THOUGHT: In order to have a bankable relationship with your employees, you must both make regular deposits.

Quiet Quitting is QUITE the trend

Quiet Quitting is QUITE the trend

I have a client who is really worried about “quiet quitting”, and he called me to discuss his concerns. I said, “do you know what quiet quitting is?” He said “Yes! It’s when employees quit working but are still on your payroll!” It’s easy to see why he is worried.

Quiet quitting is a very confusing term because it doesn’t involve employees actually leaving the company. According to this article, the more accurate term is “acting your wage” or doing nothing more than your job.

https://www.linkedin.com/business/talent/blog/talent-engagement/why-we-cant-quit-talking-about-quiet-quitting?TRK=orgsocial-quiet-quitting-facebook-9-14-22&fbclid=IwAR2a7LCyRaP_NcRBDXBDifLGpCJJgVSnWN0_t4QnmlHD7sUHVzj3Pz6popA

I really hate terms like this because it makes my clients super nervous. When the business leader in an organization is nervous, then everyone on staff gets nervous. And that makes “quiet quitting” a self-fulling prophecy.

Instead of fearing this trend, let’s re-frame it: What if quiet quitting is simply employees having better boundaries around work? What if employees stop killing themselves at work, and engage in more self-care? What if instead of focusing on ‘quitting” we focused on training and retention?

At the end of the day, whatever term you use, I want you to focus on being proactive and not reactive. When you as the leader are proactive, you are calmer, and that feeling eases the tension for your staff.

POWER THOUGHT: Quiet quitting is quite the trend. Just maybe not the trend that you thought.

Why Your Employees Feel Unappreciated

Why Your Employees Feel Unappreciated

Last week in my Vistage meeting, one of my colleagues brought up that she is hearing about lots of employees who feel unappreciated, and she asked our group what we thought was going on.

Back when we had paper checks that we handed out to employees every Friday or every other Friday, the boss would go around the office and hand each employee their check. The boss would look the employee in the eye, shake their hand and say “thank you, employee for all the work you did this week! I so appreciate you!” or something along those lines. Right then, the employee mentally connected the paycheck that they received to their performance that pay period.

Now we have direct deposit.

The employee receives their pay in their account, which is convenient, but it eliminates that crucial appreciation conversation that they had with their manager. There is a big disconnect from their money to their performance.

One way to change this situation is to bring back the Friday thank you’s. Every time your employees get paid, make it a habit to go to their desk and say “today is payday, and I wanted to tell you how much I appreciate you working for me. I couldn’t do it without you.”

Simple gratitude for them as employees should be associated with their paycheck. It isn’t hard, and it matters to your people.

POWER THOUGHT: Use payday as an opportunity to connect with your people and express your gratitude.

Refer a friend!

Refer a friend!

Do you know someone who could use help hiring the perfect candidate? Have you connected with a fellow business owner who is tired of sifting through resume after resume, wishing there was a better way? We’re here to help!

Here at A-list Interviews, we are passionate about helping business owners through the hiring process and ensuring that we find the candidate that will be the right fit for your company and culture. We are proud to say that 91% of employees hired based on our system are still employed with the company 12 months later. We would love to offer our support and a great strategy to achieve your hiring and retention goals.

Contact us today, or send us any business owners who could use help with hiring, interviewing, and retaining employees. At A-list Interviews, we look forward to helping you and your network hire the right employee.

The Secret to Retention #4: Puppies!

The Secret to Retention #4: Puppies!

Over Memorial Day weekend, my daughter, Katy, decided to foster a Mama dog and her four puppies. We spent 24 hours getting the house ready and drove to the Hylands area near Westminster, Colorado, to pick them up. Then, we spent Memorial Day doing nothing but sitting on the floor staring at the babies. We laughed loudly at the antics these babies had for getting to the food source! We bonded over naming them: Mama Lily, Aspen and Barley, the boys, and Sage and Clover are the girls. We created lasting memories.

This experience reminded me of something vital in the workplace that many of us forget. Retention is so much easier when the employees are bonded and create lovely memories together. Most people generally don’t want to leave their jobs because it is very stressful. Retention is simply providing the motivation to stay, and the best way to do that is this:

1) provide a great place to work

2) provide great work

3) provide bonding experiences

4) pay well.

And I would now add volunteering together to save puppies.

Power thought: It’s a dog-eat-dog world out there. Retaining your staff doesn’t have to be ruff!

The Secret to Retention Part 2

The Secret to Retention Part 2

As most of you know, my daughter, Katy, is a nursing major at the University of Miami. Now that she is finishing her junior year, she started applying for internships, and in the second week of January, she got hired at a rehab center, which is a coveted place to work.
Katy is fluent in Spanish, she has a 3.93 grade point average and her Clinical Instructor told her that she would be a great nurse one day. As her mother, I think that she is a very qualified candidate. 😊

Katy’s training for her new role took 7 weeks to get scheduled. When she showed up on her first day at 8 AM as instructed, she waited in the lobby for an hour and a half for the hiring manager to show up. She finally decided to find the floor where she would be working and spent the rest of her shift taking vitals for patients on the floor. She spent almost the whole shift speaking Spanish to patients.
From a recruiting standpoint, I am completely appalled. She is the best of the brightest, and to be treated this way before she even started?

And companies wonder why they can’t keep people…

POWER THOUGHT: If you want to keep your employees, start valuing them on day one.