With Salaries Frozen, How Do You Keep Great Employees?
Sprint/Nextel is just one of the many companies that announced that Salaries are frozen for the next year. So how do you keep a great employee year after year without a raise?
It comes down to loyalty. If your employees love working for your company they will stick it out through hard times. Often companies expect loyalty to come with the paycheck, but with the lack of any real job security, this isn’t an assumption that holds out.
Employee Incentives are a great way to increase company loyalty, customized promotional products. So maybe the employees receive a nice $300 leather jacket instead of a $5,000 raise. A nice jacket with the company logo embroidered on the inside lining, is a gift that employees can wear out during their personal life.
We had a vendor explain that corporate apparel with the inside embroidered lining is holding the company logo on the inside, warm and close to your heart. Now that might be a little much for me, but I know the power of incentives. A well thought out gift goes significantly farther than cash.
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