10

Aug

Take a hard look at your compensation

Filed Under (Business) by Jason Monastra on 10-08-2009

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We have been listening to the words recession for the past year, all in hopes that soon one day this will pass and life will return to days of bliss and million dollar bonuses.  Now some will say those days are still among us - since we still hear constantly the winds of pay continue to swell around financial and other companies.  However for most people, those days are over.  But has everyone really looked at their pay and asked themselves if they are possibly overpaid, or asking too much if making a move, etc.  Not most of us, and more importantly no one wants to think that possibly they are paid too much.

Take a look at this recent article on football negotiations - http://sportsillustrated.cnn.com/2009/writers/jeff_pearlman/08/07/crabtree/index.html?bcnn=yes.  Do not jump to the conclusion that this does not apply to you since the numbers are so large.  It applies in more ways the one.  Hold out, over pay, not employed, etc. are all common key factors that resonate in this article and in the general job market.  To summarize, certain players continue to inflate their worth on paper without a proven track record of success (MBAs coming out of school).  Some with good track records continue to drive up salaries or hold out from playing (essentially taking themselves out of the job market).  I find interesting the fact that these professionals are not looking at the general economic condition and asking themselves if they are doing the right thing.

Look at one of the examples given here:

Just nine years ago Matt Harrington, a highly touted high school pitcher out of Palmdale, Calif., was selected seventh overall by the Colorado Rockies. At the advice of his agent,Tommy Tanzer, Harrington rejected the team’s $4.9 million offer and re-entered the 2001 draft. Then the 2002 draft. Then the 2003 draft. Then the 2004 draft. To make a long — and ultimately tragic — story short, at last check Harrington was earning $11.50 per hour installing tires at a Costco.

Now think about that and apply that to our technical world.  Employees out of work looking for the next position that will pay them 75/hr.   They hold out and hold out more in hopes that one day it will come.  A year passes, technology changes and they find themselves not even able to earn 50/hr with outdated skills.  Some will say, never me.  But this happens all the time.  Recently I had a professional turn down a long term contract for a short term 3 month one with a competitor over 4/hr.  Now he is miserable, looking for work and wishing that he had taken the role we had.

Short term decisions on pay are dangerous.  When you look at compensation think about the employer, the benefits, the stability of the role or contract, likelihood for extension, and how it builds upon your current skill set.  If these do not add up, an extra 4/hr is useless.  Swallow your pride.  Put it simple and sweet and let it go, as the 50/hr paid vs. 55/hr unemployed is a big difference.  Positions are paying less and that is something we need to become comfortable with.  If not, you might find yourself the next 11.50 Costco employee installing tires.

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14

Apr

Job Motivation

Filed Under (Business, Personal) by Jason Monastra on 14-04-2009

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I have been investigating the job motivation area since I see a trend that has evolved since our last major recession in the 2000-2001 time frame.  People are looking for jobs, applying for new roles, even leaving positions for uncertain futures during a time when positions are not as plentiful.  Why is that?  Why is their turnover when people are being laid off by the thousands?  Why are the open chairs when unemployment is so high?  Motivation and the keys to why people work are becoming of large interest to me, to my clients, and to my company.

 

Motivation in the job market has really become a strong subject where experts are popping up like grass on the subject, citing numerous areas of speciality and telling companies what drives people.  The truth of the matter is as I evaluate my own employees, my family, and the people I speak to that are leaving positions during this recession for something “better” - I find a consistent theme.  Recognition.  Man what a driver this recognition is.  Professionals want to know they are doing a good job, and when they are they want to told so, identified in front of a group of peers, and made to know they count. 

 

Funny enough, recognition is one of the most widely unused management tools used around the globe.  We are quick to point out, finger, or even yell to the mountain tops when we identify a gap or see someone doing something wrong.  Why do we do that?  Does that build our fellow worker?  Does it increase productivity?  Does it inspire innovation or change?  Actually it does none.  What it does it make people sit back in their desks, complain about work, surf the net for new jobs, and lose countless hours and precious dollars on things that have nothing to do with their job.  So why is recognition not used.  Simply put, managers do not get it.

 

Management believes that dollars and cents are all that count.  People are motivated by money.  As I read and learn more from one-one personal conversations, professionals are motivated less by money than you would think.  In the midst of all the benefits of a job, pay is 3rd or 4th continually on all lists.  The two leading criteria are personal learning and recognition.  Those lead the lists above money every single time.  WOW.  When I read that I was confused…you know why - I am a manager.  Learning not a very good manager.  Simple recognition of a job well done, an innovative idea, cost cutting measure introduced, etc. brings to life an inner spectrum untouched by money and one of far more value.  People seize the opportunity and elate when their deeds are made known to others.  Why?  Well there are countless reasons why, but the fact remains that recognition is the key. 

 

I have been implementing and designing ways to foster this not only in my business life, but my personal as well with extraordinary results.  Small things, simple touches that let people know how well they are doing are met with joy, smiles, and most of all - HARDER work.  People begin trusting, develop respect, and have a deeper devotion to the job and the company.  All things we want and at a far less dollar cost than giving a raise.  If you are not using them, or even considering it - hesitate no longer, look no farther, and start down the road of recognition.  I think you will find the results are far more than you can imagine.

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