And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

• A planned career path that takes them to their dream job within your company.
• Mentoring and professional coaching to help them grow in their careers.
• Time and resources f
  Church Fund Raising Made Easy
  Church fund raising can be a very tricky venture if you do not have certain components in order. Every year thousands upon thousands of churches and youth groups dive into the world of running a church fund raising campaign. The truth is, most of them mean well, but they are simply not qualified to do so. They could be much more prepared by following a few simple rules.<
  Imagine for a moment that one of your best programmers comes to you and says, "Sorry boss, but I'm leaving for a startup with more opportunity." There are lots and lots of questions to ask, but let's focus on one: "What will it cost to replace her?" Here's a quick breakdown of the direct costs, assuming that her salary is $120K and it takes you three months to find and hire a replacement:

  3 months unfinished work

  $40000
  Recruiter fees

  $24000
  30 hours of your time

  $1800
  60 hours of interview time

  $3600
  3 months of startup @ 50% productivity

  $20000
  3 months mentoring by team @ 25%

  $20000
  Total Direct Costs

  $109400

  That's a lot of money out of the company's bottom line: almost enough to hire another programmer. Now consider some of the indirect costs:

  • Loss of project memory
  • Increased stress on project to pick up the extra work
  • Increased likelihood of new errors in the product
  • Loss of morale in the project
  • Danger of missing project deadlines or product release date

  You can see that the list goes on - it's impossible to quantify these intangible costs, but if you could assign a dollar value, the worst case might be three times the engineer's salary or higher. Here's the most important thing to remember:

  Losing a senior engineer is really, really costly so it's worth investing significant resources to keep your senior staff happy and engaged, so they don't start looking outside the company for their career path.

  So why don't managers and executives spend more time and energy in preventing turnover in their senior staff? Partly, they consider employee satisfaction to be the role of the Human Resources department, not their own. Also, the costs are largely hidden - the cost of recruiting and interviewing is part of the HR budget, and the cost of lost productivity don't show up on any one's balance sheet, so it's easy to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.

  And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

  • A planned career path that takes them to their dream job within your company.
  • Mentoring and professional coaching to help them grow in their careers.
  • Time and resources fo
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    It would be safe to say that you would have probably entertained the question of how to get promoted even before you graduated or left school. In my chats with juniors from my industry, I am often asked this question which I gladly answer. However, I sense they simply want short cuts to the next level. These experiences pushed me to pen these 9 obvious but often not pr
    nterview time

    $3600
    3 months of startup @ 50% productivity

    $20000
    3 months mentoring by team @ 25%

    $20000
    Total Direct Costs

    $109400

    That's a lot of money out of the company's bottom line: almost enough to hire another programmer. Now consider some of the indirect costs:

    • Loss of project memory
    • Increased stress on project to pick up the extra work
    • Increased likelihood of new errors in the product
    • Loss of morale in the project
    • Danger of missing project deadlines or product release date

    You can see that the list goes on - it's impossible to quantify these intangible costs, but if you could assign a dollar value, the worst case might be three times the engineer's salary or higher. Here's the most important thing to remember:

    Losing a senior engineer is really, really costly so it's worth investing significant resources to keep your senior staff happy and engaged, so they don't start looking outside the company for their career path.

    So why don't managers and executives spend more time and energy in preventing turnover in their senior staff? Partly, they consider employee satisfaction to be the role of the Human Resources department, not their own. Also, the costs are largely hidden - the cost of recruiting and interviewing is part of the HR budget, and the cost of lost productivity don't show up on any one's balance sheet, so it's easy to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.

    And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

    • A planned career path that takes them to their dream job within your company.
    • Mentoring and professional coaching to help them grow in their careers.
    • Time and resources f
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    • Loss of morale in the project
    • Danger of missing project deadlines or product release date

    You can see that the list goes on - it's impossible to quantify these intangible costs, but if you could assign a dollar value, the worst case might be three times the engineer's salary or higher. Here's the most important thing to remember:

    Losing a senior engineer is really, really costly so it's worth investing significant resources to keep your senior staff happy and engaged, so they don't start looking outside the company for their career path.

    So why don't managers and executives spend more time and energy in preventing turnover in their senior staff? Partly, they consider employee satisfaction to be the role of the Human Resources department, not their own. Also, the costs are largely hidden - the cost of recruiting and interviewing is part of the HR budget, and the cost of lost productivity don't show up on any one's balance sheet, so it's easy to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.

    And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

    • A planned career path that takes them to their dream job within your company.
    • Mentoring and professional coaching to help them grow in their careers.
    • Time and resources f
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      y and engaged, so they don't start looking outside the company for their career path.

      So why don't managers and executives spend more time and energy in preventing turnover in their senior staff? Partly, they consider employee satisfaction to be the role of the Human Resources department, not their own. Also, the costs are largely hidden - the cost of recruiting and interviewing is part of the HR budget, and the cost of lost productivity don't show up on any one's balance sheet, so it's easy to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.

      And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

      • A planned career path that takes them to their dream job within your company.
      • Mentoring and professional coaching to help them grow in their careers.
      • Time and resources f
        How To Recruit The Best People
        In many sectors and industries recruiting good quality staff is a real challenge. For example, a recent survey of UK Finance Directors identified that 64% were finding it difficult to recruit good people. The way in which you tackle recruitment has a big impact on your success at recruiting the best people. Sadly, many organisations have more rigour around petty cash
        to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.

        And keeping your best talent in the company doesn't have to be expensive. Usually they are already making a good salary, so you don't need to put them in "golden handcuffs." Instead, offer them any of these:

        • A planned career path that takes them to their dream job within your company.
        • Mentoring and professional coaching to help them grow in their careers.
        • Time and resources for learning and technical development.
        • Regular appreciation and recognition.

        All of these actions are either free or very inexpensive, and studies show that they are very effective at retaining employees and making them more likely to hang up the phone when headhunters call.