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Creative Compensation: Beyond Salary to Retain Talent
Manage episode 432006195 series 3322723
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About the Guest:
Michelle Donnelly is an active member of the Findlay Area Human Resource Association. With experience in Human Resources, she specializes in employee retention and recruitment strategies, focusing on innovative benefits packages, workforce collaboration, and compliance issues.
Episode Summary:
In this episode of Chamber Amplified from the Findlay Hancock County Chamber of Commerce, host Doug Jenkins explores the evolving trends in local workforce dynamics with Michelle Donnelly of the Findlay Area Human Resource Association. The discussion delves into innovative retention and recruitment strategies amidst current employee turnover rates and the impending wave of Baby-Boomer retirements.
Throughout the episode, Doug and Michelle tackle the challenges businesses face in keeping and attracting employees, the creative solutions companies are implementing, and the evolving management styles fostering better employee satisfaction.
Key Takeaways:
- Boomer Retirements: Approximately 4.1 million Boomers are turning 65 yearly through 2027, impacting the workforce as they retire or reduce work hours.
- Innovative Retention Strategies: Companies are employing various creative tactics, such as offering bonuses, appreciation events, flex time, and hybrid work models, to retain employees.
- Enhanced Benefit Packages: Businesses are expanding their benefits to include wellness packages, financial planning aids, and other ancillary services to attract and retain talent.
- Management Evolution: Enhanced transparency and open communication from management are emerging as critical factors in maintaining a motivated and committed workforce.
- Local Collaboration: Firms are increasingly collaborating with each other to share successful strategies and retain local talent effectively.
Resources:
- Findlay Area Human Resources Association (FAHRA)
- Michelle Donnelly LinkedIn
- Findlay Hancock County Chamber of Commerce
Music and sound effects obtained from https://www.zapsplat.com
125 episodes
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