It’s not what you say about your culture, it’s what your employees say that determines your application flow. Today, workers are skeptical about false promises and claims made by employers. You need to leverage the positive feedback from your best workers if you want to attract the best and the brightest to your business.
Back in 2013 I posted a YouTube video explaining why millennials (teen and young adult workers) hated being paid by the hour. With more than 350K views and a lot of controversial comments, it became apparent that I had struck the nerve that often separates employers and employees. But business owners wanted more – they needed…
Using a low price loss leader item and training front line employees to upsell customers to a higher margin product is a practice that’s been around since Moses played goalie for the Egyptian soccer team. It’s also one of many such tactics that millennial and Gen Z-aged employees despise. Unless they’re being closely monitored by…
To keep pace with the rapidly decreasing supply of hourly workers amidst this devastating labor shortage, a growing number of fast food restaurant chains are now offering early wage paychecks and even same-day pay for part-time employees, according to this article in Bloomberg. In spite of higher salaries and the lowest unemployment in five decades,…
Last week, 5-time NBA All-Star, Kevin Love, signed a contract to return to the Cleveland Cavaliers. His new deal will pay him $120M over 4 years, approximately $30M per year. These days, it’s not uncommon to see professional athletes sign enormous contracts punctuated with a staggering number of zeros. What is uncommon about this particular story…
Not long ago I worked with a mid-sized manufacturing plant in St. Louis that had a remarkable record of attracting and keeping in-demand workers. Although the company offered competitive wages, their formula for employee retention did not include offering above-market compensation, perks, and benefits. When I asked Darrel, the plant manager, his secret for hanging on to his skilled machinists…
My new high-end coffee brewer drives me absolutely insane. It brews the absolute perfect cup of java – hot nectar of the gods – about every third day. The other two result in either an average tasting cup of convenience store coffee or an evil black muck that you wouldn’t throw down your kitchen drain for…
$1.5 Billion is a whole lot of loot. An almost unfathomable amount. It is, by far, the largest jackpot in the history of any Powerball or any type of lottery anywhere on the planet. While it’s hard to imagine being the winner, try to imagine that the winner turns out to be the top performer on your…
Just about every company in existence was started by someone (or several people) who saw an opportunity to make money in the marketplace. Ain’t nothin’ wrong with that. But one company – a high tech software firm based in Minneapolis – was started by three guys (who each self-identify as ‘nerds’) with the singular goal…
Carson, the son of a friend of mine, is an MBA whose passion centers on business mergers and acquisitions. Two years ago, Carson accepted a position with an investment bank that offered him an embarrassingly low starting salary that was packaged with the promise that he’d be seeing some nice bonuses as the firm closed large deals.…