Corporate Retention: Get Creative!

Ever wanted to play pool at work? How about watch a little television? Companies with a focus on corporate retention will often create an environment too positive to pass up.

I have been researching ways that companies can foster a corporate culture that keeps its employees coming back every day, and I would like to share some of that. Let’s go into how a company can retain its internal staff as well as its public-facing salespeople.

Corporate Environment

The most attractive type of business provides incentives, salary, benefits and the platform for social interaction. The environment is non-restrictive. Employees will have more flexibility in work attire and even be able to work off-site at times.

These companies will keep their staff’s demographic in mind when providing benefits: a recent college grad may be hooked on ping pong, while a seasoned professional may be more attracted to a healthy 401K plan.

Sales Agents
Some of our offices incent their sales agents with growth opportunities that can lead to more stability and consistency in their careers.

For example, one office of ours will hire its reps full-time if they hit certain thresholds. Upon hitting a realistic goal, the agents will be invited to work inside sales in an environment that is fun – this particular office has a pool table, video games, televisions and attractive décor. These agents get opportunities to travel for both business and pleasure.

Offices will also give motivated agents their own sales forces in which they can train and manage agents and sign higher level accounts. This kind of growth provides bonus opportunities and employment benefits.

Staying in Touch
The reality is that many companies need feet on the street at all times. Those feet are a high flight risk. Why? Many times it is because they need interaction. First American has found that regular meetings help make agents feel more comfortable. Try using Skype and GoToMeeting, making weekly calls to stay connected, perhaps setting a couple of appointments for them per day.

Recognition
When an employee (full-time or contract) performs well, recognize those efforts. Fly them to corporate headquarters. Reward them MVP of the Year. Speak to their accomplishments in big meetings. A little thanks goes a long ways.

Incentives
I found the top 10 businesses in America and wrote down a few of their unique incentives. Hopefully some of these will give you some ideas on how you can retain your employees!

• Competitive salaries
• Thank you bonuses
• Stock options
• Money for adoptions
• Alternative tracks for people who don’t want to pursue the typical management goal
• Subsidized cafes
• Extended leaves
• Emergency backup care for children and aging parents
• Time off for charity work with the option to donate money instead
• Healthy 401K and retirement plans
• Bike to work benefit
• Discounted pet insurance
• Wellness programs
• Financial assistance for growth initiatives (bar exam, ISO registration, etc.)

As you can see, several of these incentives tie to money. That being said, there are just as many opportunities to offer benefits that do not significantly impact the bottom line. Cash is definitely king, but there are many other ideas that you can implement to retain employees if you put your mind to it!

-Jinni Touchstone

Manager of Client Relations