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Employee Retention: Some Things That Are Even Better Than a Raise

I was having a follow up chat with one of my recent clients the other day and was delighted to hear employee turnover is now 20 percent lower. I was even more delighted to learn about the innovative programs they’ve devised to improve store manager retention. In this particular region of this nationwide franchise, all store managers can choose one of the following:

  1. If the manager wants to lease a new car from an approved dealership, the company will make the $300 a month payments for as long as the manager is with the company.
  2. The company will make $300 a month deposits to the employee’s state education fund for either the employee or any family member, including grandkids, as long as employment lasts.
  3. The company will contribute $300 per month toward another family member’s health insurance until employment ends.