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A Wake-up Call About Rewards and Recognition

A Wake-up Call About Rewards and Recognition

When was the last time you looked closely at the next generation of leaders in your organization? The good news is that the average age of top leaders is getting younger every year. However, many of your leaders may be growing impatient on the bench.

According to a published Global Leadership Forecast, Gen Xers recently took a workforce lead by holding 51% of the worldwide leadership roles. Age 37 to 54, this highly distinguished generation of workers boasts an average of 20 years’ work experience, strong work-ethic and company loyalty.

Researchers are now suggesting that organizations should start paying attention to a new entrepreneurial trend within the Gen X demographic.

It is estimated that 55% of all startups will be founded by Gen Xers this year. Many of them are choosing entrepreneurism and business ownership rather than waiting for Boomers to retire and give up c-suite positions.

Want to keep your bench strength with top-talent Gen Xers? Here’s three top tips for an effective retention strategy:

  • Recognition is valuable and highly appreciated by the Gen X workforce. For the majority of them, they grew up with traditional values around performing ‘above average’ to achieve success, accolades and rewards. They are typically motivated by both monetary and non-monetary recognition.
  • Mentoring makes sense for your retention strategies to help ensure your Gen X workforce chooses your organization as their career organization. The best mentoring programs for a strong leadership bench feature top executives who mentor three to five senior leaders or middle managers. Consider mentoring relationships outside of direct reporting structure, especially ones that expand/stretch the current knowledge and skill (technical expertise) of the potential Gen X leader.
  • Associate roles for executive level leaders are not new, however providing this additional title along with greater organizational influence may keep Gen X leaders progressing in a positive trajectory. Moreover, in organizations who have experienced losses of their top-talent Gen Xers—to executive status via business startups and entrepreneurial pursuits— can encourage immediate adoption of associate roles, i.e., associate financial officer, associate vice president.

Start having critical conversations with your Gen X workforce today to retain and keep your bench strong.

Center for Practical Management helps companies achieve organizational goals and behavior change initiatives through tailored consulting services, leadership coaching, employee skills training and marketing services. Learn more at www.cf-pm.com

Center for Practical Management is a strategic business partner with Raddon, a Fiserv Company. Learn more at www.raddon.com

Incentive Program Targets Sales Growth

Incentive Program Targets Sales Growth

SANDUSKY, OHIO – The Center for Practical Management has expanded its suite of consulting services to include sales incentive planning and development.

Our new Incent Program serves any business operation that relies on relationship management success for continued growth in retail sales. Understanding what motivates your sales team is key to the strategic direction you choose for incentive planning and related skill development activities.

Incent offers clients a comprehensive assessment of their current sales culture and employee participation in performance rewards and recognition. A planning and development phase offers clients customized options for qualitative and quantitative research such as Mystery Shopping, Focus Groups, and Surveys. An Action Planning session with key stakeholders provide facilitated planning and development for a strategic change initiative.

“Center for Practical Management believes in maximizing employee potential through effective goal setting and incentives that responsibly drive sales culture initiatives,” says Rebecca Oeltjenbruns, owner of Center for Practical Management. “Whether your organization is creating an incentive program from scratch, reviewing a current one for compliance, or preparing for regulator examination, we can help you develop a winning strategy for sales growth.”

Center for Practical Management is a consulting firm offering training and development solutions and research programs for organizations seeking to improve financial performance, employee engagement and customer satisfaction.

Center for Practical Management helps companies achieve organizational goals and behavior change initiatives through tailored consulting services, leadership coaching, employee skills training and marketing services. Learn more at www.cf-pm.com

Center for Practical Management is a strategic business partner with Raddon, a Fiserv Company. Learn more at www.raddon.com