Welcome! January 25, 2007 






Developing People ... Inspiring Success
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Volume 4, Issue 1   Jan 2006   ISSN 1556-3820

"I praise loudly and blame softly.”
-- Catherine the Great
   Note From Regina

Hello and Happy New Year! I hope that 2007 brings you the success and prosperity you deserve.

I am kicking off the New Year by focusing on one of the issues that clients tell me continues to be problematic for them: retaining employees. This month I share some thoughts on what motivates employees in my feature article, "How to Motivate Employees Without Breaking Your Budget."

I'd also love your feedback on the amount of time and money invested in your employee retention strategies be sure to take this month's short polls.

Learn more about how your company's inclusion practices can help you retain employees by visiting my Blog where you will find some great tips.

Don't forget to visit my website, www.redladder.com, where you will find more information about our consulting, executive coaching, speaking and assessment services, as well as other resources, articles, and tools to help you be more successful. 

Yours in success,

Regina Barr


   Feature Article

How to Motivate Employees Without Breaking Your Budget 

It's January and it's the time of year when most people look to make changes, and that includes changes in their jobs. It is also a time when most companies begin posting new positions. Depending on which side of this scenario you are sitting on will determine if that is good news or bad news for you and your company.

Consider this. In a recent job satisfaction survey, compensation was indicated as the most important factor for job satisfaction for employees under the age of 35 as well as those between the ages of 36 to 55. (Source: SHRM 2006 Job Satisfaction Survey.) Surprising? Maybe, particularly when you consider that over 20 aspects of employee job satisfaction were examined including career advancement opportunities, benefits, flexibility to balance life and work, and compensation.

What does this mean for your organization? As the pool of talent continues to compress, compensation costs are likely to increase. However, it is important to note that compensation isn't the only factor that impacts job satisfaction and your success in recruiting and retaining talented employees will rest upon your ability to create a compelling employment package and satisfactory work environment overall.

Sound expensive? Not to fear. In a recent Red Ladder poll (November 2006), when asked their greatest wish for themselves or their co-workers in the coming year, here's what employees said:

  •  36% want development opportunities that allow (them/ me) to stretch and grow
  • 27% want more balance and alignment between (their/ my) personal and professional commitments
  • 23% want tools, training and resources to get (their/ my) work done more efficiently.

This means that you have other options at your disposal that you can use to help to increase job satisfaction and retain employees without bankrupting your budget.

It will be important to remember that one size will not fit all. Managers will need to become skilled in assessing what motivates their employees and then work to find ways to deliver on these strategies while adhering to corporate policies and budgets. While this will take more time on the front-end, consider the costs to replace even one of your employees. These costs include lost productivity, recruiting fees, and training costs to orient a new employee to your company and get them up to speed, not to mention the impact to the remaining staff who will have to pick up the slack during the process, and of course, your customers.

Consider any investment you make in your employees like buying reverse insurance. You pay a small ongoing premium with the hopes that you won’t ever need to pay a lump-sum premium (to cover the costs noted above) at the back-end to bring on even one new employee. In my opinion, that’s a policy worth investing in.

Copyright 2007 Regina Barr, Red Ladder, Inc.

Regina Barr is a management consultant and speaker. Her consulting firm, Red Ladder, Inc., specializes in helping organizations and their leaders develop their full potential through strategic consulting and project management, executive coaching and training. Regina also helps companies develop strategies to attract, develop and retain high potential leaders. For more information visit www.RedLadder.com or http://www.redladder.blogs.com/.

 

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About Red Ladder

Red Ladder, Inc., provides people development services for individuals and organizations with a goal of developing people and inspiring success. Regina Barr, CEO of Red Ladder, holds a BBA, an MBA and an MA in human development. With over seventeen years in the financial services industry, she has a broad range of leadership experience in product, sales, and marketing. In addition, Regina has a special passion for helping companies attract, develop and retain high potential leaders.


in this issue ...
  • Note from Regina
  • How to Motivate Employees Without Breaking your Budget
  • Speaking Schedule
  • Resources
  • What's New
  • About Red Ladder

 


What's New ...

1/1/07

Red Ladder CEO, Regina Barr, is featured on the cover of North Western Financial Review and is quoted in the article, Changing the Industry, One Woman at a Time. Read more…

Speaking Schedule ...

Interested in hearing Regina speak? Here are some of Regina's upcoming programs:

January 10, 2007, IABC Dial-Up Your Career Series, Sing Your Own Praise, TeleForum™

January 30, 2007,Star Tribune Career Expo, Negotiating Successfully: How to Get More of What You Deserve. Minneapolis, MN  

February 7, 2007, IABC Dial-Up Your Career Series, Positioning is Everything, Create the Career You Deserve, TeleForum™

February 7, 2007, Strategic Financial Helping You Invest Series, Leadership and Negotiation Skills. Plymouth, MN Deserve, TeleForum™

February 14, 2007, IABC Dial-Up Your Career Series, Dynamic Communication, TeleForum™

March 7, 2007, IABC Dial-Up Your Career Series, Run it Like You Own It, Developing a CEO Mindset, TeleForum™

April 4, 2007, IABC Dial-Up Your Career Series, Inspiring Peak Performance – Building Team Brilliance through Coaching Conversations, TeleForum™

May 18, 2007, FWI North Central District & Minnesota Bankers Association, Positive Risk: How Smart Women Use Passion to Break Through Their Fears, Minneapolis, MN

for information on how to register or if you are interested in having Regina speak to your organization.

 

Resources ...

Workplace Motivators: this assessment tool measures the relative prominence of six basic interests or motives. The report helps to illuminate those motivating factors and attitudes, and allows you to understand the driving forces behind your employees actions. The result? You will have a better understanding on how to motivate your employees for maximum productivity. Contact us at or 651-453-1007 to learn more.

ODsurveys Plus™: use our off the shelf survey or customize one to meet the specific needs of your organization. Use this information can be used to develop strategic goals and action plans for your company. Contact us at or 651-453-1007 to learn more.


What Our Clients are Saying ...

"A hearty thank you for today's TeleForum. The content was highly usable for all types of interaction and you were extremely positive in your approach to the content. I was fortunate to have had the opportunity to participate. You are a talented presenter."

-- Tom Chochrek, 
Communications Manager, Construction Zurich  


Copyright 2007 Regina Barr, Red Ladder, Inc. All rights reserved.
www.redladder.com | info@redladder.com | 651-453-1007 | Inver Grove Heights, MN 55076