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Motivating and Retaining Staff

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What motivates employees, the role of the leader, ways to motivate staff, why employees stay and why they leave

What motivates employees, the role of the leader, ways to motivate staff, why employees stay and why they leave


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  • 1. Motivating & Retaining Staff Presented by Bill Lovitt, CCE
  • 2. Motivating & Retaining Staff
    • “ Ability is what you’re capable of doing. Motivation determines what you do. Attitude determines how well you do it.”
      • Lou Holtz, Football Coach
    • It all starts with you ...
  • 3. Credit Professionals Wear Many Hats
    • Financial Whiz
    • Risk Monitor
    • Customer Liaison
    • Sales Partner
    • Money Manager
    • Do you need another one ?
    • Yes … Leader!
  • 4. Agenda
    • What motivates employees
    • The role of the leader
    • Ways to motivate staff
    • Why employees stay … and why they leave
  • 5. What Motivates People in a Business Environment? ...
  • 6. Employee Motivators (Not in Order)
    • Recognition
    • Advancement
    • Salary
    • Benefits
    • Need for Achievement
    • Need for Power
    • Need for Affiliation
    • Work-Life Balance
    • Open Communication
    • Meaningful Work
    • Work Environment
    • Flexible Arrangements
    • Workplace Culture
    • Job Security
    • Learning Opportunities
    • Supervisor Support
    • Active Role in Decisions
    • Good Work Relationships
  • 7. Findings … 1997 National Study of the Changing Workforce *
    • “ The quality of workers’ jobs and the supportiveness of their workplaces are the most powerful predictors of productivity - job satisfaction, commitment to their employers, and retention.”
    • * Surveys U.S. labor force every 5 years
  • 8. Findings … Department of Labor Review of Over 100 Studies
    • Determined a positive relationship exists:
      • Between training, motivating, and empowering employees
      • and
      • improvements in productivity, employee satisfaction and financial performance
  • 9. Best Companies to Work For
    • Of 100 Fortune Best Companies to Work For, 80 avoided layoffs in the preceding year and nearly half have a policy barring layoffs
    • Finding : Job security is an important employee “care-about”
  • 10. Fortune 100 Best Companies to Work For
    • #1 : Edward Jones - stockbroker
      • No layoffs , early bonuses, employees praise ethics
    • #2 : Container Store - retailer
      • Employees feel respected , good pay and benefits
    • #3 : SAS Institute - software developer
      • Child care, fitness center, free lab tests
    • #4 : TD Industries - construction company
      • Employee ownership , good sick-pay plan
    • #5 : Synovus Financial - credit card processor
      • Strong career planning and no layoffs in 114 years
  • 11. What Makes a Great Place to Work...
    • The way management treats employees
    • Credibility - open communication/integrity
    • Respect - support and collaboration
    • Fairness - equity and impartiality
    • The way employees feel
    • Pride - in jobs, teams and the company
    • Camaraderie - sense of community
    • Source: Great Place to Work® Institute (helps produce “The 100 Best Companies to Work for” list for Fortune )
  • 12. Inclusion & Diversity
    • Inclusion - def . - the act of including
      • Everyone should feel like they belong
    • Diversity - def . - an instance or a point of difference
      • Celebrate the unique skills, backgrounds, and attributes of each of your employees
  • 13. Flexible Work Arrangements
    • Flextime
      • Flexible work hours
    • Flexplace
      • Working from home
    • Job Sharing
      • 2 employees share job
  • 14. Management vs. Coaching & Leadership
    • Manager
    • Controls
    • Manages Status Quo
    • Approves
    • Reactionary
    • Manages Processes
    • Trains Staff
    • Coach/Leader
    • Empowers/Delegates
    • Continuous Improvement
    • Endorses and Supports
    • Proactive/Visionary
    • Produces Results
    • Develops Staff
    - “Management is doing things right, leadership is doing the right things.” - Peter F. Drucker
  • 15. The Role of a Leader
    • Credibility - Lead by example
    • Sensibility - Do the right things right
    • Reliability - Be equitable and consistent
    • Flexibility - Your way isn’t the only way; empower your team to take risks and embrace change
      • “ There is something that is much more scarce, something rarer than ability. It is the ability to recognize ability.” - Robert Half
  • 16. Creating a Strong Team
    • Communicate and share a common purpose
    • Empower team members
    • Provide recognition
      • Give credit where credit is due
      • “ Spotlight” employees to senior management
    • Share victories and losses, but always make your team feel like a winning team
  • 17. The Role of Communication
    • Clearly communicate expectations
      • Company mission and values
      • Goals and performance to goals (SMART Goals)
      • Don’t save feedback for annual reviews
    • Keep your staff informed
      • Verbal and written communication (which/when)
      • Meetings and teleconferences
    • Staff access to management/proper channels
      • Open door policy and listen to your staff
    • Praise in public and criticize in private
  • 18. Best Practices - Interactive Exchange
    • How do you motivate and retain staff?
  • 19. Incentives, Contests, Recognition
    • Cost Based
    • Prizes & Awards
      • Movie Tickets
      • Gift Certificates
    • Lunches & Dinners
    • Recognition Awards
      • Trophies, Ribbons
    • Recognition Clubs (President’s, Leadership)
    • No Cost
    • “ Dress Down” Days
    • Public Commendation
    • Ranking Charts
    • Communication of Achievement
    • Pat on the Back
    • Leave early/Time off
    • Parking Spot
  • 20. Competition as a Motivator
    • People want to be in 1st place
    • No one likes to be in last place
    • Rankings are effective motivators, but need to be communicated and kept up to date
    • Healthy competition drives performance, results, and success
  • 21. How do People Really Feel (About Their Jobs)? Part I
    • Fiction
      • Dissatisfaction with pay and benefits is the top reason American workers leave their jobs.
    • Fact
      • Some 70 percent of the employees who leave their jobs do so because they’re unhappy with their supervisors.
        • Source: The Gallup Organization
  • 22. How do People Really Feel (About Their Jobs)? Part II
    • Fiction
      • “ Wages and fringe benefits … are often considered primary determinants of job satisfaction, commitment, loyalty to employer, job performance, and retention.”
    • Fact
      • “ The quality of employees’ jobs and the supportiveness of their workplaces are far more important predictors of these outcomes than earnings or fringe benefits.”
        • Source: 1997 National Study of the Changing Workforce
  • 23. Why People Stay ...
    • Opportunity for advancement
    • Valuable training opportunities
      • Help your staff develop “portable skills”
      • Does your company offer tuition reimbursement?
    • The opportunity to make a difference
      • Do all your staff members know why their jobs are important?
  • 24. … and Why People Leave
    • The grass is greener syndrome
      • Some come back if you let them
    • Dissatisfaction with management, corporate culture, advancement opportunities, salary
    • Poor fit (skills, personality, etc.)
      • Consider temp to perm for some positions
      • Be sure to do exit interviews
  • 25. When You Don’t Want to Retain ...
    • Effective leaders need to know how to motivate and retain, but not everyone should be retained
      • Top performers should be recognized/rewarded
      • Marginal performers should go through a formal performance improvement plan (coaching, warning, probation, termination)
  • 26. How Does Your Staff Feel?
    • Surveys
    • Roundtables
    • Meetings
    • The “Rumor Mill”
  • 27. Suggested Resources
    • 1001 Ways to Reward Employees - Bob Nelson
    • Executive EQ - Robt. K. Cooper & Ayman Sawaf
    • The Motivational Manager Newsletter
      • www.ragan.com 800-878-5331
    • 7 Habits of Highly Effective People - Stephen Covey
    • Principle Centered Leadership - Stephen Covey
    • Lions Don’t Need to Roar - D. A. Benton
    • On Becoming a Leader - Warren Bennis
      • … and don’t forget your Human Resources Dept.
  • 28. In Closing ...
    • “ People often say that motivation doesn't last. Well, neither does bathing -- that’s why we recommend it daily.”
      • Zig Ziglar

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