Employee Ownership without Open-Book Management, 10 Employee Retention Strategies

  

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• Week 1 - Marketing and sales department report of previous month sales, presentation of latest marketing materials, summary of recent trade shows attended and customer survey results
  
• Week 2 - R&D and engineering report on status of current projects and/or new product training
  
• Week 3 - OBM and financials review/training; profit-sharing checks passed out in this meeting on a quarterly basis
  
• Week 4 - Operations training/reporting – how they're doing in getting the product out the door and to customers
  
• Week 5 (if there is one) – open forum and safety meeting
  

Unorthodox Trust Building and Its ROI for the Company shares 10 retention strategies from two
2008 Top Small Workplaces, including 100% ESOP-owned ATA Engineering Inc.:

1. Hire the best people possible
   
2. Offer employee ownership
   
3. Train, coach, and mentor
   
4. Grant responsibility and authority
   
5. Create an environment of trust
   
   

• Trust staff to treat company resources as their own (example: approval of expenses)
  
• Focus on overall performance (example: one P&L statement)
  
• Less focus on individual achievement
  
• Egalitarian culture and flat org chart (good when an employee doesn't know who his/her supervisor is)
  
• No "executives": No exec perks or separate compensation system; same pay scale for management and engineering staff