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Nicole Cox Shares Employee Retention Tips With IE3 Media

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Decision Toolbox Chief Recruitment Officer Nicole Cox shares employee retention tips, advice for identifying employees who may be at risk for leaving and why she doesn’t believe in counter offers with IE3 Media.  Check out the full article here.

Excerpts from the article:

Empowering employees to provide input ensures that the incentives offered are the ones that workers want, according to Nicole Cox, Chief Recruitment Officer for Decision Toolbox. While Cox is based in Orange County, California, Decision Toolbox is an entirely virtually-based company.

“One of the best things to do is have a brainstorming session with your employees. Tell them that no idea is a bad one, State that if money wasn’t an issue, what would they want as their perks and incentives? You’ll be surprised at the list they develop. Some of the things they will want you to implement don’t actually cost much or anything at all.” Cox explained.

However, companies should avoid providing incentives that they may not be able to maintain. Doing so could actually backfire, creating more dissatisfaction among workers, Cox warned.

“One year a company creating its list of perks may be lucrative so it feels generous, which sets a company up for disappointment in the future if it can’t afford to continue the same perks year after year. Make sure that whatever you implement is something your organization can do for the long haul,” Cox insisted.

Cox also believes counter offers are not advisable.

By the time a worker has submitted a resignation, the forces propelling him or her out the door have been in motion for weeks, months or even years. In most cases, counteroffers are not advisable, according to Cox.

“If you aren’t willing to make a complete change to what was making them unhappy then they will be gone in six months anyway. I encouraged two of my employees to take the positions they were interested in and I let them know that they could return if they didn’t like their decision. That was a better approach for our organization. I would only do that for star performers,” she stated.

Check out the full article here.

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