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CRITICAL EMPLOYEE LOSS PREVENTION


A January 22nd article in The Kiplinger Letter points out that companies should be alert to losing critical employees in this current economy and that some savvy companies are already trying to pick off the cream of the crop. Additionally, when the job market improves, more workers will gratefully seize the opportunity to jump ship.

Few companies are immune. Surveys show that 20% of workers want to switch jobs as soon as they can. The cost of replacing an employee….lost productivity, recruitment and training…is three times annual pay.

Now is the time for companies to take preventive measures. Waiting until a worker you depend on has an offer from another firm means you’ve waited too long.

Some relatively easy and low cost steps:


1. Show you care…demonstrate appreciation Offer flexible hours and telecommuting options. Say “thanks” and “well done” whenever they’re deserved. Give some extra days off. Other inexpensive options: Gift cards and discounts on your own firm’s products.
2. Take an interest in career goals and emphasize opportunities to move ahead.
3. Keep promises. If a pay freeze or cut came with a pledge to catch up later, do it. Or at least explain why you can’t now and when you might.
4. Reduce unnecessary tasks….maybe make monthly reports quarterly instead.
5. Save what cash you have for the most important people on your staff. That may be a line foreman rather than a vice president. Think productivity, experience and the availability of a replacement when deciding who gets a bonus.

Conversely, remember the other side of the coin:

Now’s a good time to fill staff holes and plot a hiring strategy so you can compete when you’re ready to add to payroll.


Money will always be the primary lure, but a good approach needs more. If you have a prospect in mind, home in on his or her personal goals and needs. Be willing to offer flexible work schedules, training and advancement potential. Some workers hunger for a casual dress code or the right to occasionally bring a child or even a dog to work. Introduce prospects to current employees who can seal a deal by telling them your company is a good place to work. Show you’re financially secure, if that’s the case, so workers won’t worry about the long-term viability of a move.

Take generational differences into account. No one size fits all. What attracts a 20-something technology whiz who hates being tied to a desk can be very different from a seasoned baby boomer’s wants. Flexibility in schedules and in tasks assigned, autonomy, company stability and more are part of the package.

(Source: Kiplinger Letter, Vol. 87, No. 4)
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Copyright 2007. J. Gifford, Inc.

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Manager - Engineered-to-Order Drives
$80's - $90's + bonus
Principal Engineer - Variable Speed Drives
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Project Manager - Coal Gasification
$120K - $150K base range with potential of share options to be determined
Sr. Drilling Engineer - Midland TX
$118K - $155K base + Annual Bonus + Performance Shares
Electrical Motor Design Engineer - Laminations
$85K - $92K base
PSM Manager
$90 - $110K
Sr. Reservoir Engineer - Billings, MT
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Commercial Gas Sales Rep
$110K - $130K + team share bonus
Sr. Sales Engineer / Business Development
$100K - $135K base + commission (up to 40%) + bonus
Black Belt / Continuous Improvement
$75K - $85K base
Engineering Manager - Rotating Equipment Systems
$100K - $115K base + bonus
Process Controls Integration Manager
To $130K + Mgmt Incentive Bonus
Exploration Manager
To $220K base + bonus, options.
Hong Kong - Regional Talent Management Head
$154K + 30% OTE bonus
Sr. Legal Counsel
$100's + 15% targeted bonus


Materials Manager
At $95K
IT Manager - Director / CIO
$100K base at present
Domestic / Intl Sales & Mktg Director
At base of $125K + commission
Human Resources Director / VP
Low $100K
General Manager/ Operations Director
$130K
Sr. Structural Engineer - Project Manager
Mid $80's now + bonus
Skills Training Coordinator
Upper $60's now
Controller / Financial Management
$90's base + bonus now
Data/ Business Analyst
Mid $60's
Marketing Manager / Sr. Applications Engr
Mid $70's base
Senior Buyer / Purchasing Manager
High $60's + bonus now
Project Design Engineer
Needs $80-90K for change
General Manager / Chief Operating Officer
At $155K base
VP Engineering
$165K base
Human Resources Manager - Mfg or Process
$90K
Master Black Belt / Engineering Manager
$105K base now + bonus
Global Sourcing / Supply Chain Manager
$105K base now
Applications / Proposals Engineer
Mid 60's now
CFO - Corporate Controller
$115K base now + bonus
Hydraulics Design Engineer
$75K + bonus
Business Unit Manager / Product Manager
At $100K + small bonus
Division Controller / CFO
Mid $100's
Human Resources Manager
$70K + bonus
Senior Manufacturing Engineer
Mid $70's base now
Assistant HR Manager
Upper $50's
Rotating Equipment Engineer
Needs $75K base
Oil & Gas Controller
Mid $100's presently
Manufacturing Production Manager
$70K now + Bonus
Sr. Controls Engineer / Chief Engineer
Needs $116K base
Process Technical Manager / Distillation Specialist
At $130K base + bonus
E&P Business Development Manager
At $140K base
Senior Process Engineer
$90K now
Lean Manufacturing Manager - Black Belt
At $100K + 15% bonus
Sr. Reservoir / Production Engineer
$155K base at present + bonus and options
Drilling Fluids Engineer
$65 - 75K
Process Engineering Supervisor
$110K base
Sr. Applications Chemist/Tech Service Engineer
$90K base + bonus presently
Refinery Project Engineering Manager
At $105K base + 20% bonus
Refinery Manager or Sr Pipeline Ops Director
At $116K base + healthy bonus
Senior Controls Engineer / Manager
$100K base now + bonus
Pipeline Integrity Mgr / Corrosion Svcs Director
AT $110K base + bonus
Simulation SW / Process Control Engineer
Upper $70's now
Gas Contracts Manager
$135K base + bonus and incentives
Process Engineer
Needs $90K minimum base
Lab Manager / Sr. Applications Chemist
Needs $90 - $105K base
Senior Production / Reservoir Engineer
At $125K
Environmental / Process Engineer
At $102K now
Supply Chain Exec / GM - China
$130-150K for U.S.
Senior Production Engineer
$150K base now + bonus
Drilling Engineer
Needs $110-120K Base