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Factors Determining An Employees Stay or Departure

Posted on by Mike Stromsoe

While you may think that how much you pay your employees is what keeps them at your company, there are a variety of other influencing factors that determine their stay, or departure. Gathered are the main factors that determine an employee’s decision to stay at an organization or start job hunting:

  • One of the most influencing factors is the level of management. Each employee should be treated fairly, but uniquely. Learn what your employees are passionate about and what they are motivated by, and use that to improve the management of your business.
  • We no longer live in a world where competitive salaries are enough. Most workers would choose a job with a lower annual salary if they were to receive an employee benefits package.
  • Yes, money matters, but it is not everything. If you cannot afford to give your employees annual raises for their hard work, consider yearly bonuses to show your appreciation. Most employees simply seek a sense of appreciation to motivate them.

For more of these information tips, be sure to contact Mike’s Unstoppable Profit Producer Program. This program can lead your organization to success.

The Pareto Principle: How to Apply It and What to Avoid

Posted on by Mike Stromsoe

The Pareto Principle, named after economist Vilfredo Pareto, states that 20 percent of invested input gets 80 percent of the results. In a perfect world, inputs and outputs would be balanced. What you put in and what you get out would be equivalent–or, if we could really get lucky, business owners would put a little in and get a lot out. You’d see a regular rate of return on all your efforts at work… but that’s not how it really goes.

Recognizing the 20 Percent–Put a Little In, Get a Lot Out

In the real world, the work of 20 percent of a corporation’s staff often results in about 80 percent of the company’s profit. 20 percent of your marketing efforts accounts for 80 percent of your conversions. Pareto himself used the rule to explain how 80 percent of Italian property was owned by 20 percent of Italy’s population.

The good news is, that shouldn’t be a discouraging statistic. Recognizing what works best is just good business management. Mike Stromsoe’s Unstoppable Profit Producer Program helps you recognize and maximize the impact of that supercharged 20 percent.

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