Newsletter Article
Member Benefit
Published Mon Dec 27 2021
In the face of the Great Resignation, smart business leaders are taking this historic moment to realign their priorities and invest in their people. But what does this look like, exactly? In some cases, it’s extremely literal. Many companies are treating key staff members like partners, setting up profit-sharing programs to increase investment in the organization. “It’s a race of showing them you appreciate them versus them looking elsewhere for that partnership respect,” Michael Sinensky, CEO of WeShield, says. “I suggest you create a profit-sharing system that splits 5 to 10 percent of company profits among key staffers based on time in the company and job performance.” But dollars and cents aren’t the only way to increase retention and boost productivity. Sometimes personal and professional development are just as important as a paycheck. “We’ve done workshops with outside expertise on everything ranging from personal finance to yoga, to the fundamentals of anti-oppression,” says Kelsey Raymond, co-founder and president of Influence & Co. “Our team has shared that they really appreciate us investing in them learning about valuable topics that aren’t just marketing.”
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