Paul McDonald

speaker

188 appearances 3 recordings 1 series first heard Feb 2019 last heard Sep 2020

Paul McDonald’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · It's a Job Seeker's Market, Even in the Pandemic · 11 Sep 2020 podcast

So retention strategies, retention worries are really at the forefront of most managers' minds.

The companies that are implementing best practices and the companies that are best in class are looking at non-monetary benefits as a way to hang on to individuals as they've gone through these really tough economic times, encouraging employees to be constant learners, continuous learners.

You know, LinkedIn offers free courses.

Additionally, they've been – employee assistance programs have really been emphasized.

So well-being, you know, how to take care of yourself, making sure that the employees are, you know, getting out away from the computer.

Because interesting fact, we've been seeing more employees work harder with no commute time –

either side of their day.

You know, the breaks for lunch and break during the day is just, you know, walking across the apartment or walking across the hall to the refrigerator is really interesting.

So a lot of encouragement from the human resources department, development departments within organizations have really been stressed.

So non-monetary benefits have really been stressed.

But it really comes down to, you know, making sure culture has been reinforced during this pandemic.

Leaders at all levels are communicating often and frequently in a very upfront and frank manner, delivering good news, but also delivering the bad news in a straightforward fashion, and then creating vision on how they are charting the path forward.

town halls for all employees, department meetings on a regular basis through video chats, and then one-on-ones on a more frequent basis to just check in on people in a caring, empathetic way.

That word empathy has really come forward in almost all best practices communications.

And I'd have to say that it's really worked well.

in terms of how to increase retention, how to keep people focused and engaged during this very difficult time.

Salary is a discussion point even in the first interview today.

You wouldn't think that, but we've done numerous studies over the past few years.

And each time we do the study, it seems as though people are more comfortable speaking about compensation earlier in the interview process.

So as an employer or an employee,

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