Extreme retention

May 01 2008 by Derek Torres Print This Article

I came across an article online the other day that reminded me of that tune "Money for Nothing" by Dire Straits. Because in Australia, you might not get money for nothing, but you might well get a bribe to stay in your job.

Yes, you read right, companies are starting to give "incentives" for people to not leave their job. What a world!

In fact, the labor shortage in parts of Australia has reached a point where employers are trying to find any creative, non-monetary way to entice their staff to stay on the job. For example, you might receive free lunches or rounds of golf to buy your loyalty.

Unfortunately (for us) this isn't the case in every industry in Australia, but those in engineering (non-IT, I believe) are in this targeted (and much envied) group.

This is an interesting concept Ė but where will it lead? In many countries the value of these gifts would have to be declared and taxed. Perhaps there are other ways to get people to stay Ė onsite childcare? Beer garden on Friday evenings? Flex time? Remote work possibilities?

This concept may well be worth maintaining, especially in periods where good workers are hard to find. However, it will be a difficult, sad day for employees when market conditions return to normal and they've got to pay for their own golf.