Page 126 - Retaining Top Employees

McKeown06.qxd 5/16/02 4:10 PM Page 114

114 Retaining Top Employees

ed by pens, T-shirts, and
Know Your Top
even quality luggage sets
Performers
The demographic and gender and vacations than by
preferences indicated are very broad- rewards that reflect their
brush. No one knows your top per- position. Try building your
formers better than you,so take time program to include
to match rewards to their personal rewards that:
preferences if possible. If you have any
– Provide access to senior
doubts about the relevance of partic- management (e.g.,
ular rewards to your top employees,
inclusion in a senior
you have a perfect focus group—the
employees themselves! management retreat).
– Reflect and emphasize
autonomy (e.g., paid time off and telecommuting
resources).
– Support cutting-edge development (e.g., technology—
PDAs, instant messaging systems).
• Demographic preferences. Again, as a general indicator
only (see the sidebar, “Know Your Top Performers”),
employees under 35 are often more likely to select
“lifestyle” rewards such as holidays and sporting equip-
ment, while employees over 35 more often appreciate
monetary rewards or flexible work schedules.
• Gender preferences.
Surveys regularly indi-
Yankees Tickets
Don’t Travel cate that women prefer
A large insurance organiza- rewards that help them
tion based in New York had a develop work-life
rewards program for its top sales balance (like paid time
performers,which included tickets for off and telecommuting
the New York Yankees. Unfortunately,
resources), while men
35% of the eligible employees were are more likely to prefer
based in offices elsewhere than in
New York.Those employees didn’t monetary rewards and
“gizmos.”
hold the program in high esteem,
because if they won they could bene- • Impact of location. If
fit from the prize only at major you manage employees
expense to themselves. who are dispersed in var-