ILMA Compoundings – September 2019 - 28

In Support of Satisfaction
How incentives boost employee retention
By Lin Grensing-Pophal

I

n a tight labor market, where
people with specialized skills,
aptitudes and attitudes are in high
demand, employers are not only
struggling to attract new talent, they
are looking for creative ways to retain
existing employees.
The big question for companies
seeking to boost retention: What
incentives can be used to retain key
employees in an environment where
they have many other options?
MANY INCENTIVES ARE
MONETARY
Terre Christensen is president at
FindLine Connections Inc. in the
Colorado Springs, Colorado, area,
recruiting in the downstream oil and
gas, cement and biofuels industries

28

SEPTEMBER 2019

| COMPOUNDINGS | ILMA.ORG

and working with clients to find,
engage and sign on the best talent
available. In the quest to attract and
retain employees, she said, incentive
programs are extremely important.
Incentive programs, she said, serve to
"not only balance the compensation
equation, but also to motivate your
employees to a higher aspiration."
But not all bonus structures will
have the same impact, she said. "If
you're offering just a base salary and
then a potential bonus that's layered
with company performance, it's not
very exciting because you don't have
very much control over it."
Instead, she said, incentives that
employees have some personal control
over can serve to better drive excep-

tional performance. Consider the
way this works with salespeople, for
instance. When motivated to make
more sales by increasing the incentives
they can earn, great salespeople will
make more sales.
Recently, Christensen said she has
been working with clients on sales positions. People in sales positions, she said,
like to see that there isn't a cap on what
they can potentially achieve. "For me,
that's the A-plus candidate," she said.
"They want to know that there is no
glass ceiling: 'If I continue to work hard
that's going to continue to benefit me.'"
Christensen said that she is also
aware of equity-based forms of
compensation that can help to retain
employees. In these instances, employees


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ILMA Compoundings – September 2019

Table of Contents for the Digital Edition of ILMA Compoundings – September 2019

LETTER FROM THE CEO
INSIDE ILMA
WHAT’S COMING UP
NEW MEMBERS
INDUSTRY RUNDOWN
IN THE KNOW
INTERNATIONAL INSIGHT
MARKET REPORT
ON WITH THE WIND
IN SUPPORT OF SATISFACTION
SUSTAINABILITY HAS ARRIVED
BUSINESS HUB
COUNSEL COMPOUND
WASHINGTON LANDSCAPE
IN NETWORK
MEMBER CONNECTIONS
PORTRAIT
ILMA Compoundings – September 2019 - Cover1
ILMA Compoundings – September 2019 - Cover2
ILMA Compoundings – September 2019 - 1
ILMA Compoundings – September 2019 - 2
ILMA Compoundings – September 2019 - LETTER FROM THE CEO
ILMA Compoundings – September 2019 - INSIDE ILMA
ILMA Compoundings – September 2019 - 5
ILMA Compoundings – September 2019 - 6
ILMA Compoundings – September 2019 - 7
ILMA Compoundings – September 2019 - 8
ILMA Compoundings – September 2019 - 9
ILMA Compoundings – September 2019 - WHAT’S COMING UP
ILMA Compoundings – September 2019 - 11
ILMA Compoundings – September 2019 - 12
ILMA Compoundings – September 2019 - NEW MEMBERS
ILMA Compoundings – September 2019 - INDUSTRY RUNDOWN
ILMA Compoundings – September 2019 - 15
ILMA Compoundings – September 2019 - 16
ILMA Compoundings – September 2019 - IN THE KNOW
ILMA Compoundings – September 2019 - INTERNATIONAL INSIGHT
ILMA Compoundings – September 2019 - 19
ILMA Compoundings – September 2019 - MARKET REPORT
ILMA Compoundings – September 2019 - 21
ILMA Compoundings – September 2019 - ON WITH THE WIND
ILMA Compoundings – September 2019 - 23
ILMA Compoundings – September 2019 - 24
ILMA Compoundings – September 2019 - 25
ILMA Compoundings – September 2019 - 26
ILMA Compoundings – September 2019 - 27
ILMA Compoundings – September 2019 - IN SUPPORT OF SATISFACTION
ILMA Compoundings – September 2019 - 29
ILMA Compoundings – September 2019 - 30
ILMA Compoundings – September 2019 - 31
ILMA Compoundings – September 2019 - SUSTAINABILITY HAS ARRIVED
ILMA Compoundings – September 2019 - 33
ILMA Compoundings – September 2019 - 34
ILMA Compoundings – September 2019 - 35
ILMA Compoundings – September 2019 - 36
ILMA Compoundings – September 2019 - 37
ILMA Compoundings – September 2019 - BUSINESS HUB
ILMA Compoundings – September 2019 - 39
ILMA Compoundings – September 2019 - COUNSEL COMPOUND
ILMA Compoundings – September 2019 - 41
ILMA Compoundings – September 2019 - 42
ILMA Compoundings – September 2019 - WASHINGTON LANDSCAPE
ILMA Compoundings – September 2019 - MEMBER CONNECTIONS
ILMA Compoundings – September 2019 - 45
ILMA Compoundings – September 2019 - 46
ILMA Compoundings – September 2019 - 47
ILMA Compoundings – September 2019 - PORTRAIT
ILMA Compoundings – September 2019 - Cover3
ILMA Compoundings – September 2019 - Cover4
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