I came across an article today that I thought was rather spot on after reading a few of these posts. It's from Forbes but as Surgical management says, "What does Forbes know? I'm from Cleveland." Completely laughable while paying their Dover employees pennies on the dollar to do a thankless job in a terrible location.
I hope this article finds specific individuals in management needing of a serious lesson in business management.
https://www.forbes.com/sites/ilyapozin/2015/01/20/7-ways-to-lose-your-best-employee/#5262f1a6d746
Let me highlight for those of you unwilling to read.
##The Cost of Your Best People
A CAP study estimates it can cost up to 20 percent of a mid-range employee’s annual salary to replace that employee.
For example, for an employee making $40,000, the cost to replace that employee would be $8,000. That’s just for a mid-range employee. For highly educated executive positions making $100,000 annually, that number jumps to 213% of the salary. That’s $213,000 lost if your best executive quits.
_What happens when you cut your sales forces' compensation? They leave.
##No Rewards
_We don't want your bullshit trips and iPods. We want money. That's why we work
##Dishonesty
Being dishonest with your employees might be one of the fastest ways to get rid of your best employees.
Generally, your best employees are confident, skilled individuals who possess enough self-respect to place themselves in relationships with trust and respect. If those things are not present in their current workplace, they won’t stick around long. They’ll set off to find a team of people who treat them right.
_Telling your sales force that there is a "bonus" for meeting quarterly goals while capping their actual year end "bonus" money is dishonest and frankly unethical. You are a piece of garbage.
##Lack of Training
A
Deloitte study found 75% of employees believe offering employee development programs incorporating training, education, and mentorship help achieve a sense of important purpose at a company.
If you aren’t providing the training new hires need to adjust and current employees need to grow, it will cause more stress on your best employees who carry the majority of the weight. Take the time to access growth opportunities among your current employees. Pair employees with mentors to help them learn new skills. Keep an eye out for free or low-cost local seminars or webinars your employees can attend to learn valuable skills they can apply to your company.
_You've hired a robust amount of sales people since last spring and haven't even properly trained them. And you expect them to hit quota? Your business model and professionalism is garbage. This isn't a pick up game, it's a business.
##No Visible Career Path
If your employees can’t see the light at the end of the tunnel, they might feel stuck.
Research by Catalyst cites “individual’s perception of limited opportunities” as a top reason for an employee leaving a company. Usually ambitious, your best employees might have big career goals they’re hoping their star performance at your company will help them reach.
_Would anyone want to work for a company that continues to overlook talent for well known shmucks that were either a friend of yours or at the right place at the right time? You guys are a joke.
With all of this being said, you've taken food off of my wife and children's plate. Expect to receive to the same return on investment. Your sales force is THE driving factor behind new business and you've decided to bite the hand that literally feeds you. You don't need to subscribe to Forbes to realize that you are out of your element Mr. Dover.