Worried about losing your most talented employees? According to The Wall Street Journal, you should be: “A strong economy gives workers to seek better positions and higher pay,” the Journal reports. In fact, the U.S. Labor Department’s data shows that 3.4 million workers quit their jobs in April (the month for which the most recent statistics are available). That number approached the peak for resignations in 2001.
Allyson Conklin, founder of Allyson Conklin Public Relations, hits the road with her employees. “What I’ve discovered over the past few years is that my employees, who are mostly millennials, choose to work at my company because of the work/life balance, mentorship, and growth opportunities. So, we offer more non-traditional benefits,” says Conklin. One of those benefits is what Conklin calls an annual enrichment trip. “After an employee has worked for me for a year, I give them the opportunity to choose a conference or event that we can attend together. It doesn’t necessarily need to relate to PR, but instead can be something that will ignite inspiration and growth in their career and personal life and will give us the opportunity to connect one-on-one outside of the office.”
Keith Figlioli, a General Partner of Boston-based LRV Health, who before getting into the venture capital world helped Premier, a healthcare informatics company, go from $800 million to $1.5 billion in revenue before raising an IPO — looks for companies that can grow what he calls “high quality” revenue. As he said, “Not all revenue is good. Unless there is a good product/market fit, the revenue could be episodic. I want sustainable, recurring revenue per member per month.”
You put in the time, the research, the reading and hard work. Now go put it to use. Research, study and master how to effectively reach your audience. From that first $1,000 you’ll make $100,000. Reinvest and continue to build.
By initiating a referral incentive program, your current employees will be financially motivated to refer stellar candidates. In this mutually beneficial setup, your company will gain quality talent, and existing employees will earn rewards, like money, extra vacation days, or a prime parking spot.
The Wall Street Journal once did a whole section devoted to the value of MBAs . In an article titled, “Is an MBA Worth it?,” reporter Melissa Korn interviewed five students on the value of their degree. While these students were generally positive about their degrees, she points out that companies are significantly reducing their hiring of MBAs of late in favor of their less educated and elitely sculpted brethren. While the MBA may offer credibility across industries, may result in extra earnings, and should offer rich peer-level networking opportunities, corporations are becoming less sanguine about this accreditation–even among the most prestigious institutions like Wharton, HBS, CBS, Booth, Tuck, Kellogg, Fuqua, et. al.
It sounds crazy, but the forced time on a plane for say ten hours or more will mean you will get the work done. (Plus, you might enjoy the overnight in a foreign city.) I once wrote four chapters of a book on a long flight to Vienna, writing two full chapters on the flight over and two full flights on the way back. If your project is mostly about you generating the materials you need–the marketing plan, the written text, the insights, the business plan for investors–then the flight will help you stay focused because there is nothing else you can do anyway on the flight.
In fact, there’s a growing perception that Twitter is really just the purview of celebrities, trolls, famous people, politicians, and journalists like myself. Ask the average knowledge worker in an office about Twitter and you might get a blank stare. It’s not how we connect with other people (e.g., Facebook), it’s not how we share photos (e.g., Instagram), it’s not how we send direct messages (e.g., Snapchat), and it’s not how we find a job or connect with coworkers (e.g., LinkedIn).
While avoiding the discomfort might be desirable, it is hard to influence positive change when people don’t have a space to speak up, converse, and challenge each other in a way that isn’t shaming. Thus, fostering a space to extend compassion, rather than blame, can go a long way.
While consumers are one consideration for retail or service-based operations, all types of businesses have to factor in the talent available. “If you’re solving for rapid growth, the talent pool is obviously critical,” Evans explains. “Speak to local recruitment firms in the area about employee profiles. They often have prepackaged analyses about specific roles and talent pools in the area, and they can be invaluable in helping you discern between locations.”