Thursday, June 24, 2010

Retention Secrets Revealed!

Last week I spent a day with the CEOs of Canada's Fastest-Growing Companies at the PROFIT 100 CEO Summit. In one session, I facilitated a roundtable that allowed P100 entrepreneurs to share issues, problems and solutions with each other.

The problem that most bedeviled the entrepreneurs at my table? Holding on to their best people and building a robust, retention-building company culture. As one CEO said at our table, "I used to blame the employees for leaving. But now I realize it all starts with me."

My column in this week's Financial Post shares some of the confidential retention strategies these entrepreneurs discussed.

“To reduce turnover, Paul's company pays its retail staff more than the competition, and employee rewards programs that provide merchandise prizes to staff members who achieve various goals. Plus, Paul doesn't take sole responsibility for building culture: He makes regional management teams accountable for minimizing turnover and ensures those statistics are included in the management-assessment process.”

You can read the full story at

1 comment:

Dwi Wahyudi said...

Hi Sir, for the first may I introduce myself. My name is Yudi, from Indonesia, age 28 year old. I am one of blogger in Bopneo and I am very interesting with entrepreneur topic. Would you share and make a friendship with me? Thanks...