SOURCE: http://gmj.gallup.com CONTACT: The Gallup Management Journal INFORMATION: Editorial and Executive Offices1251 Avenue of the Americas, Suite 2350New York, NY 10020888-274-5447
A renowned economist pulls the lid off the last thing many of us will talk about in public
October 09, 2008
Leading economist Alan Krueger argues that companies can get away with paying lower wages than competitors without losing many employees, though there are hidden costs. He also says that organizations are right to keep pay a secret.
To understand how compensation motivates -- or demotivates -- employees, executives must come to terms with, and learn to manage, the irrational, emotional nature of pay.
Companies can reduce costly churn if managers know what to look for. But they usually don’t -- and that's because too many managers think money is at the root of the turnover issue. This article uncovers the real sources of the problem and reveals the reasons most people quit. Find out how to keep good employees from walking out the door.
Upscale clothier Jack Mitchell, author of the bestseller Hug Your Customers and CEO of Mitchells/Richards/Marshs, explains his infectiously enthusiastic approach to management in his latest book, Hug Your People. In this interview, Mitchell tells why positivity is good for productivity and profits.
