My colleague Linda, a twenty-year industry leader who was a client and now recruiter, shared an interesting story with me. She worked for two international companies during her career. Linda, unlike most, can claim that she received a gold watch from each employer. This is a tradition to honour long-serviced employees (10-years in this case) for their dedication.
However, one company gave Linda the gold watch upon completing her first year of service while the other upon her tenth year. One company was more interested in investing in her future. The other was more interested in celebrating her past. Linda worked hard for both companies but guess which company she talks about more fondly.
Zappos offers new employees $3000 (originally $1000) to quit after their extensive paid training in order to ensure commitment. The short-term employee will take the cash and run. Since Zappos show their commitment to the employee first, their retention rate is one of the highest among Fortune 50 companies.
When recruiting and retaining top talent, create a strategy that highlights your culture and commitment. In turn, they will be committed to you.
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