The Real Way Companies Attract and Retain Talent

It’s free

Two years ago, a CEO I work for got a call. It was a key employee from a competitor, asking for a job. This employee hadn’t been fired and the CEO hadn’t solicited. When the CEO asked why he wanted to come over, the key employee gave an answer that stuck with me ever since.

What would you guess the answer was? What would cause you to leave a high-level job and go over to a competitor?

Higher Pay?

I don’t think I’ve ever truly left a place for higher pay. Maybe you have.

The big problem with “higher pay” is it’s hard to calculate. You need to consider these 11 things, at a minimum:

1. Base pay.
2. The number of hours worked. This question applies equally to salary and hourly.
3. Vacation. How much? Can it be paid in cash? Does the role realistically allow time for vacation?
4. Retirement plan (at least in the USA). Is there a retirement program? Do you have to defer some of your own pay to gain a benefit? Will you actually use the program?
5. Health insurance (again, at least the USA). What are the deductibles? What is covered? What is your contribution?
6. Bonuses. Is there a bonus/profit-sharing plan…