Constructor - July/August 2013 - (Page 56)

Money Isn’t TEN REASONS EMPLOYEES REMAIN LOYAL BY KIMMEL & ASSOCIATES THE ECONOMIC RECESSION HAS HAD A severe impact on employ- ment in the construction industry and retention has become an important aspect for company leaders to seriously contemplate. As a result of recession-driven layoffs and the vast amount of professionals who left the industry altogether (1.6 million between 2006 and 2011, according to an AGC analysis), those remaining had to absorb more responsibilities and work longer hours. Furthermore, some construction owners now expect their employees to assume more roles without much recognition. However, expecting long hours and exceptional performance also requires that owners do more to retain their best talent. It is a common misconception that companies must offer high salaries and expensive trips or gifts in order to retain their best employees. Yet these incentives are not always the best way to maintain a happy workforce. Recession or no recession, it will always be important for companies to provide competitive fi nancial and benefit packages. But there are other factors besides compensation that can help create an environment where employees remain loyal. Companies can implement numerous low-cost solutions that positively influence retention as much as higher salaries. Here’s an example. A superintendent, who had been with his company for several years, was underpaid for his experience and skill level. Asked why he never considered career moves to increase his compensation, he recalled a story: On his way home from work one night, early in his career with the company, Attendees of AGC’s April Project Manager Course. 56 constructor | JU LY/ AU G U ST 2013

Table of Contents for the Digital Edition of Constructor - July/August 2013

Editor's Note
President's Message
CEO's Letter
Hire Power
Innovative Ideas Modernize 78-Year-Old Bridge
DeConstructing Social Media
Business Fraud
Challenge Accepted
Stand-Out Safety Program Earns Opp Construction Grand Award
2013 AGC/Willis Construction Safety Excellence Award Winners
2013 Liberty Mutual Marvin M. Black Excellence in Partnering Awards
Money Isn't Everything
AGC in Action
Wall of Wind
Weathering the Storm
Green, Safe and Fast
Leading the Way
Summing it Up
Tall Orders
Going Interstate? Go NASCLA.
Do the Math
Technology Toolbox
Technology Toolbox
Bond-Readiness Program
Legislative and Regulatory News
Book Review
Upcoming Events
2013 Regional Resource Guide
Member and Chapter News
Index to Advertisers
Final Inspection

Constructor - July/August 2013