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A Workforce magazine survey of over 2,000 managers cited the following factors as "very" or "extremely" important when deciding whether or not to stay with their current employer: Job responsibilities (94%), Salary (89%), Culture and Values (85%), Advancement Opportunities (78%), Success and Stability of the Organization (77%), Long Term Rewards (65%) and Co-Worker Relationships (64%). Oops! 267 Human Resource managers surveyed by SHRM (Society for HR Management) found that the most frequently used incentives to attract executives are: 401(k) matching, relocation assistance, year-end bonuses, educational assistance, and casual dress. Unfortunately, these are not what executives want most. The most effective incentives for executives according to these HR professionals include: Option to telecommute, Domestic partner benefits, Hiring bonuses, Stock options, and Housing allowances. Speaking of Option to telecommute, companies in 11 states were surveyed by Telework Association and Council, and they discovered what they no doubt were seeking -- telecommuting is a powerful retention tool with 75% of telecommuters saying they're happy with their work. A Louis Harris study of 1000 employees concluded that contributions made by employees determines loyalty for 84% of workers, and 61% who receive training, education or mentoring are "Very Likely" to stay in their jobs for the next 5 years. Only 13% cited benefits among the top three things they liked most about their work. In keeping with this last point, a study of 500 business professionals by MasteryWorks found that 95% said the primary factor in deciding to stay or leave their job, was whether or not they had a trusting relationship with their manager. Executives and managers who know, respect and trust their key people are much more likely to keep them in the 21st Century. |
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Dilbert's New Work Words
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Executive Coaching is gaining in popularity because the results pay off. A 1999 survey of 500 Human Resource professionals working in a wide variety of industries, found that 90% of US companies offer coaching for their key executives:. 26% offer it to high-potential executives, and 54% offer coaching to high-potential and other employees as well.. Why do companies use coaches? 70% use it for leadership development, 60% say coaching people to improve is better than replacing them, 54% to change and positively influence behaviors, 40% for retention of top talent, 36% for personal, psychological counseling, 34% for management succession planning, 30% to ensure success after promotion or with new hires, 18% for pre-termination counseling, 13% for appearance or attire, 11% to assist in making presentations or speeches. |
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American workers place a high priority on quality of life, but are the
hardest working labor
force in the world, according to the Int'l Labor Organization. US employees work
nearly 2,000 hours a
year. That's 70 hours (about 2 weeks) more work than the average Japanese, and
350 hours (about 9
weeks) more than Europeans. Executives hardly ever take pure vacations
anymore. Manchester
Recruiters Int'l surveyed 5,000 executives and found that 82% mix
pleasure with business: 28% keep in
touch via phone and 13% through email,
while 13% have cut vacations short because of work.
Unfortunately, as the Institute for Workplace Studies at Cornell University found, as work hours increase, so do problems at home. In a Fast Company magazine survey of 1,096 college educated adults, 91% said their personal life should be a higher priority. But caught in a work/money/home dilemma, 77% would quit work or reduce hours if money weren't an issue, yet given a choice between a $10,000 a year raise or working one hour less each day, 83% would take the money. No wonder the National Mental Health Association estimates that 75%-90% of physician's visits are due to stress, and US industry loses $200-$300 billion annually in absenteeism, diminished productivity, employee turnover, accidents, worker's comp, and other medical, legal and insurance expenses. |
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According to a study by Manchester Int'l of 826 Human Resource Managers in the US, executives and managers fail because: 82% Don't build partnerships and teamwork with peers
and subordinates
Successful executives and managers build partnerships and teamwork, clearly know their boss's expectations, are politically attuned, achieve important objectives, learn their job in a timely fashion, and achieve a healthy personal/professional balance. |
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Don't find fault. Find a remedy. Henry Ford There are costs and risks to any program of action, but they are far less
than the long-range risks and costs of comfortable inaction. 'Do' is the critical word. Peter F. Drucker Successful executives and managers solve problems, take risks, and take action. They also know how to create great workplaces. The Gallup Organization has surveyed over 80,000 managers over the past 25 years and concluded that in the best workplaces, employees give a strong "Yes" to these 12 questions:
Many executives and managers falsely believe they're doing enough, when that's not true from the crucial employees' point of view. That's why the best managers meet with their employees individually at least every three months, define outcomes so that expectations are clear, focus on strengths and talents, manage around weaknesses, and find the right fit of the person and the job. Email JonKramer@BusinessPsychologist.com PO Box 3101, RSF CA 92067 Jonathan M. Kramer, PhD | |
