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    4 Ways Women Business Leaders Can Keep Talented Employees

    Nothing is more important to me than having a great team. As a woman business leader, creating a talented, cohesive team is something I take great pride in. But it requires dedication, and in these difficult times, a lot of strategy. How can you maintain your company standards and keep your talented staff during economically stressful times?

    Here are some tips from Jill Morin, CEO at Kahler Slater, a Milwaukee design firm.

    1. Raises can be tied to added responsibilities
      Many companies felt the squeeze and weren’t able to offer across-the-board increases as they had in the past. Jill said her company, however, did give raises to employees who took on additional duties. As a design firm CEO, it was important to Jill that the company maintained its reputation as the stellar agency in the area, attracting and keeping the most talented people. So, for those who were already earning a better-than-average paycheck, Jill’s company offered them nominal increases to at least acknowledge their promotions.
    2. Achieving revenue goals = bonus
      Because teamwork played a significant role in Jill’s company’s success, when certain account goals were reached and benchmarks attained, her company devised a way to tie bonuses to team and individual contributions. The bonuses may have been modest, but the point was Jill’s company felt it was important for the team to benefit financially if they helped the company meet its financial goals
    3. Clarify the company’s financial status
      Jill noted that her company employed two individuals who requested cost-of-living increases that the company could not afford. Company executives offered up the company’s financial reports online so all employees could see the reports for themselves. While the company couldn’t give the raises, the employees were able to see why and remained with the company.
    4. Provide non-monetary rewards
      In some companies, job satisfaction has a lot to do with the amount of creativity allowed. So, even though a paycheck is necessary for most of us, having the ability to show our creative side goes a long way. Jill’s company recognized this and while it had to take on less creative projects to meet its financial obligations, it kept an eye open to lower-profile jobs that offered employees a creative outlet — even if the jobs weren’t real income producers for the company.

    While not all of these strategies will apply to your business situation, I think they’ll give you enough inspiration to help you come up with ways to keep your employees challenged and satisfied even when times are tough.

    One Response to “4 Ways Women Business Leaders Can Keep Talented Employees”

    1. [...] Here’s an additional blog about keeping employees engaged: “4 Ways Women Business Leaders Can Keep Talented Employees.” [...]

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