I Wish Newsletter - August 2006
I Wish... Newsletter
This is a snippet from the July 2006 I Wish... Newsletter.
To view the complete newsletter, click here.
I recently had an opportunity to listen to the audio version of the book Good to Great by Jim Collins. I had read the book in the past but had about seven hours ahead of me in the car and thought this would be a great time to review the concepts. What a great listen. One of the many ideas that resonated with me was the comment Collins makes about employees not being your most valuable asset. As he so eloquently says, “Employees are not your most valuable asset—the right employees are your most valuable asset.”
As we continue to conduct research on what employees want from their managers, we are reminded of the importance of doing what it takes to keep the right ones on our team. With today’s tight labor market, organizations are competing for the right players to put on their bus. What’s going to make the difference? The organization that creates a culture that fits with employees’ values and can help them attain personal goals while assisting the organization hit their goals will come out on top.
Someone asked me the other night at a social event how money fits into keeping great employees. My answer was very little. Compensation is simply a measuring stick that at best you can use once or twice a year to compare yourself with others. Don’t we wish it was so easy? Just throw money at it. The problem is that doesn’t work. What does work is talking with your employees, finding out their values, dreams, and aspirations and helping them get there within the context of meeting organizational goals.
Continued Success!
Todd McDonald, Co-Author, I Wish You Would Just…
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