Employee Retention Strategies

From the Desk of Ryan Binkley, President and CEO of Generational Group

Hello and welcome to our March 2019 eNewsletter!

I hope that 2019 is off to a tremendous start for both you and your family and that you are having a very successful year.

I am sure that we are all experiencing the impact of record low unemployment levels. It has become an ever greater challenge to locate and hire good associates, making it all the more important to retain the great ones we all now have in our organizations.

I recently came across a really informative article on this topic that has 20 practical steps that we all can use to keep the great ones in-house. Of the 20, here are three that really caught my attention:

  1. Hire the Right People to Begin With – So simple yet so true!
  2. Appreciating your Employees – Sometimes just a quick thank-you email or a personal note for an associate’s hard work can go a long way in retaining them.
  3. Initiating a Mentor/Buddy Culture – Often folks who consider leaving do so because they feel like they are all alone facing their challenges. Having a caring mentor that gives perspective and wisdom can make all the difference.

If you are interested in learning about the other 17 ideas, you can read the full article here: The 20 Best Employee Retention Strategies.

I hope you find the ideas shared in this article helpful and as interesting as I did.

Please remember that your relationship with Generational Equity doesn’t end once our initial evaluation is completed on your company. We provide you with two valuation updates at no additional cost over a five-year period. If your business is performing better now than it was a few years ago, it might be a good idea to contact us to review your company’s current business enterprise value.

On a related note, most business valuations have improved due to the 2018 tax reform so that alone may be a good reason to update your valuation.

Keep in mind that in addition to a value update, we also will provide you with our Roadmap for Enhancing Value, a document that is designed to give you ideas on steps you can implement to build the enterprise value of your business over time. Our clients find this tool extremely helpful as they focus on growing their businesses for potential future acquisition.

If you are interested in updating your company’s valuation, would like to make an informed decision about your options in the marketplace, or have any questions for us at all, please call our Chief Experience Officer, Jay Hellwig, at 972-232-1156, or send Jay an email at j.hellwig@generational.com and he will be in touch.

Thank you for your time and I wish you and your family continued success in 2019!

Ryan Binkley
President & CEO
Generational Group