THANKSGIVING THOUGHTS AND CONSIDERATIONS

America was built upon the concept that great individual effort can result in unprecedented personal reward - that individuals can realize unlimited opportunity through hard work and the effective utilization of their abilities and resources.  It is also a country born of rebellion seeking a place to exhibit religious freedom.  We strive to leverage our potential to achieve endless possibilities yet our “roots” establish within each of us a morale and ethical duty to provide for all.  We are created equally BUT, having different gifts, interests, abilities talents and capabilities, should not expect nor feel we are entitled to receive EQUAL REWARDS unless we invest equally to create results.  While we all taste success, life is a reflection of equitability rather than of equality. Our efforts do not create EQUAL results - they produce results that reflect EQUITABLY against the abilities we have developed, the intelligence we apply, the effort we put forth and the outcomes we achieve.  Rather than expecting to receive equally because we were blessed to live within this great country we should be thankful we can receive proportionately to the efforts we put forth – that the American Dream of becoming whatever we wish to be can become a reality in the lives of those willing to invest their time, talents, abilities and resources.

Thanksgiving recognizes the sacrifice made by many AND the relationships developed within a new land in celebrating the sweat equity invested to make the harvest possible.   Some farmed, some hunted, some cooked, some served – but all shared in the feast they helped prepare.  We possess different gifts, abilities and competencies so we ARE NOT presumed to be equal in our ability to produce or achieve results.  There are many contributors to the harvest.  If all hunted – or all farmed – there would be very little variety on our thanksgiving tables.  Our Thanksgiving Holiday – one of two truly American Holidays – epitomizes sharing, celebrates the harvest and focuses on giving thanks for the bounty our great country provides.

Our country has survived many challenges from outside its borders.  We have overcome adversity, established ourselves as world leaders in almost every endeavor we choose to pursue, and shared our riches (and resources) with many having less.  If the greatness of our country is to survive, we must brace ourselves to overcome attacks from within – attacks on an individual’s ability to demonstrate excellence, the opportunity to reap the rewards of individual efforts, and the belief that one is limited ONLY by his or her own shortcomings – by embracing the freedoms and unlimited possibilities we currently have available to us.  

As you celebrate Thanksgiving this year, consider not only the harvest but also the work that went into preparing for it.   Hold tightly to the freedoms we enjoy while striving to provide similar opportunities to those less fortunate RATHER THAN diminishing our own rewards in an effort to minimize the gap between those who “have” and those who “have not.”  Celebrate the effort and be thankful for our abilities rather than focusing upon the rewards the efforts produced during this Holiday season.  Recognize the sacrifice that allowed us to live as we do and the ongoing commitment needed to maintain our abundance.  Maximize our potential by leveraging the gifts and resources we have been given to provide appropriate rewards (that can be shared freely and willingly with others) rather than attempting to tax or restrict the fruits of those that labor so that the rewards can be distributed equally to those unwilling to invest in their own futures.  Be thankful for the investor as much as you are for the return on his or her investment.   

Do not allow football, “Black Friday” or “Cyber Monday” to overshadow Thanksgiving.  Enjoy time with family and friends, holding dear the hard work that brought the dreams of those who came before us to fruition.  Pray our efforts can help fulfill the dreams we hold dear while establishing new possibilities for those who will follow as we celebrate the unique opportunities our great and free country provides.  Have a Happy Thanksgiving this year, focusing upon the many blessings you have received (rather than worrying about the things you have not yet achieved) and the bountiful harvest we enjoy.

ATTRACTING AND RETAINING TALENT

Most studies find that pay is not the most important reason people join (and stay with) an organization.  The way they interact with peers, are treated by management, and their overall satisfaction with job challenges (and opportunities) are far more critical than pay (and/or benefits) when attracting or retaining talent.  Pay and benefits, however, must be relatively competitive in order to attract qualified candidates (people will take a pay cut but typically only when offered the opportunity to advance or the chance to do something they were not previously doing).  In order to retain talent once attracted, however, compensation MUST be internally equitable (noting that “equitable” does not translate as “equal”).  During this time of strong talent demand and relatively soft candidate availability, retaining employees is much more cost effective than hiring replacement workers – and building an internal talent pool is a much more reliable source from which to identify individuals able to contribute to an organization’s growth.  To help in this regard, consider the following:

1)      Organizations without an objective means to establish a job’s value or worth (that will link value to defensible compensation practices) tend to pay employees more based on who they are and how long they have worked than what they contribute.  Whenever employers make pay decisions based on who is in the job rather than on what the job does for the organization, favoritism and inequity (whether real or imagined) will begin to destroy internal employee relations. 

2)      Strong merit pay systems tend to attract and retain high performers (and over-achievers) while “time in job” based systems tend to attract risk-averse employees and retain mediocre employees.  When goals and objectives can be established AND FULLY COMMUNICATED that link additional pay and/or bonus opportunities to their accomplishment, capable employees will step forward.  Systems that pay all individuals equally, regardless of their results, tend to equalize abilities (at a minimally acceptable level) along with pay (typically at an “average” rate).  Paying for time on the job, for effort or for “acceptable performance” fosters and promotes mediocrity within the workforce.  High achievers will not tolerate mediocrity as understand that a chain is only as strong as its weakest link.  The very individuals that most companies seek will flee an organization that allows (or tolerates) sub-standard performance.

3)      Internal equity is much more important than external competitiveness – and consistency is MOST important.  Employees who know (and trust) you will be fair and equitable (not necessarily equal) in your dealings with them become a big part of the organization’s ongoing success.  When employees doubt management credibility, or see the inconsistent application of policies or practices, they become more a part of the problem than the solution. While employees do not (nor should they) like everything we do as an organization, consistent and predictable practices must exist.

4)      Do not be fooled into thinking that business has established a “new normal” in regards to paying people at reduced rates.  Paying people the minimum for their talents, thinking they cannot find work elsewhere, is a “penny-wise” practice that may generate a short-term profit BUT will prove to be “pound-foolish.”  High-performers will abandon such a sinking ship quickly, leaving for organizations that recognize (and will reward) their value.  It is strange how many organizations will pay more for an “unknown replacement” than they will pay to retain a known commodity! Pay, however, is not the ONLY reason employees join (or stay with) an organization.  Some companies have found that raising their “entry rates” by $2.00 to $3.00 per hour MAY help them to attract workers but that, in and of itself, will not overcome a negative environment.

5)      Compensation Administration IS NOT a static science.  You should review pay ranges against market regularly to reflect changing conditions.  Individual pay rates should be adjusted (based on an organization’s ability to do so) to reward exemplary performance.  You should also review benefit offerings (and costs) annually to insure that adequate competitive coverage is provided in a fiscally responsible manner.  Finally, equity is potentially more important than competitiveness OR equality.  Remember, fairness IS NOT equality (many top achievers have left organizations when treated “the same” as everyone else) and culture IS often more critical than “being competitive” when managing talent.

Some have said that “attracting talent” is easy but retaining talent is a lot harder (as it takes a personal investment of time and energy).  Establishing INTEGRITY, however, is potentially the most important aspect of managing talent.  As with any relationship, when we say what we are going to do then do what we said, we establish and gain credibility.  Not everyone will LIKE you when leading through change BUT it is your role to “make a difference” in the lives of those around us.  Begin by making a difference in YOUR OWN life as well.