The age of employees hiring on and working for a single company for their whole life is nearing its end (if it hasn’t already). With increasing ease, employees are transitioning between companies and industries. The value proposition your company offers it’s employees is contemplated on a daily (or, dare I say, hourly) basis. And it’s NOT all about the money…
Truly talented employees will often sacrifice higher compensation for greater artistic license or opportunities to expand their experience working on new projects or in conjunction with other departments. You will lose some of your best and brightest employees by limiting your bargaining power to compensation alone. Ultimately this act alone may lead to the demise of your business altogether.
Regularly soliciting ideas (and actually acting on them when they are viable), offering continuing education and cross-training between departments are just a few things a savvy manager can do to stimulate upwardly mobile employees and encourage their investment (even if only emotionally) in your company and it’s mission. You will keep them focused on YOUR mission instead of looking elsewhere for something they feel is deserving of their talent.
What are YOU doing to stimulate and push your employees?