Focus on the Future.

As employers today continuously complain that they cannot locate great employees, one question must be answered: “Have I created a place where people want to work?” There are many ways to accomplish this. Naturally, a good wage is a given, but quality employees seek much more than this. They may want the chance to take the lead and demonstrate their talents. They may want to grow in their abilities so that they can become more valuable to you or another employer in the future. They may be looking for a proving ground so that someday they may be able to set out on their own entrepreneurial journey.

But if we talk about what keeps employees loyal, a great part of that is the sense that their employer is looking out for their well-being. George Garrett of Garrett Electric makes it his mission to find and mentor people who want to be hands-on, electrical contractors. His plan is to grow his organization by identifying potential new participants who pride themselves on their craftsmanship. If you think about it, it’s almost like being a talent scout for your business. So, are you a talent scout for your business?

When I was sponsored by fishing tackle companies and working their trade shows, I learned of an industry rep group that represented several of my sponsoring companies. The most interesting thing I remember about that experience was that the owner of that company was looking for loyalty from his employees. He put together a package so attractive that the sales rep that told me about it said he would be the first person to retire from that company with $1 million.

If you’re worrying about losing quality employees, start thinking about how you can incentivize them to stay with you long term. I encourage you to look into a long-term plan that will let them know that you care about their financial needs when they’re ready to retire. It won’t work for everyone and it’s not supposed to. Not everyone you bring on board will stay with you until they retire, but it will help you to identify those like-minded individuals who want to go the distance with you.

“To get rich, you have to make money while you’re asleep.” – David Bailey

Let me hear from you.

This excerpt is taken from my 5-part series entitled The Leadership Academy. I encourage you to click here to register for The Leadership Academy program, which will be held on five consecutive Tuesday mornings on October 3, October 10, October 17, October 24, and October 31, 2023 from 9 AM to 12 noon Eastern Standard Time. This program will be presented partially in person at the Comfort Suites in Manheim, PA (classes 1, 3, and 5) and on Zoom for the other classes. This event will also be available through live streaming.