How To Keep Your Best Talent

Eric Wise:

The only thing more offensive than getting no bonus or salary increase is getting one that is so insignificant compared to your accomplishments that it feels more like a “slap in the face” rather than the reward it was intended to be.

For example, a worker I know who works in the utilities industry came up with a new way of performing routine maintanence on some equipment that when down for maintenance costed tens of thousands of dollars a day. The maintenance being performed is highly complex and usually lasts 45 days. This new procedure ended up cutting 15 days off the average maintenance, a savings of $150,000 every time this maintenance had to be performed. Surely, the boss was pleased and wanted to reward this innovation from an employee. Upon coming into work the next week the employee was presented with a $20 gift certificate… to subway…

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