Communicating With Retention In Mind
Some years ago, I was working at a high tech company during a recession. Granted, it wasn’t a Great Recession, but it was bad enough. There came a certain point where an employee who had not had a raise in two years, went to the CEO and asked for a raise. The CEO’s response: “I agree that you’re one of our top performers. But, in this economy, you have nowhere to go, so I’m not giving you a raise.”
The CEO had forgotten one little point: when we least expect it, economies get better. It’s exactly when things are looking worst that the opportunities start to appear. In this case, the employee left and had a new job with a 50% raise within a couple of weeks. He told me later that if he’d received almost any raise, he’d have stayed. It wasn’t about the money.
Now, when I tell this story in training exercises or when I’m giving a talk, someone always says that if the CEO and the employee had only communicated then the situation would never have come up. That’s a nice sentiment, but not one that quite makes sense. The two people in this little dance were communicating. Unfortunately, the content of their communication led them down a path that did not benefit the CEO or the company at all; in fact, the loss of that employee at that time set product development back six months.
Read the rest in the Journal of Corporate Recruiting Leadership
