Transcripts

Rita Bailey:
People stay because of purpose and meaningful work- whether that's a challenge for them, whether that's knowing that it matters that they show up every day.

Rita Bailey, co-author of the book, Destination Profit…

Typically money becomes an issue when all those other things are lacking, when there isn't respect and when there isn't appreciation or recognition. Then if you're not going to provide those things, then you need to pay me more money.

It's not that money isn't important, says Rita, people need to be paid what they're worth but it's not the only thing.

So, I think people stay because they have a sense of relationship, they have a sense of contribution, they have a sense of purpose - they understand what role they play in achieving the goals and the vision of an organization.

Which means they need to know what the goals and the visions of the organization are.

For instance at Southwest Airlines, when I was there we knew how many people had to be on an airplane in order for us to make a profit- every employee knew that. We knew that a certain number of seats had to be filled before we actually made a profit. Helping people understand your business, what drives your business, what drives customers towards you and then how they play a role in that - is key.

At somethingyoushouldknow.net I'm Mike Carruthers and that's Something You Should Know.