In the scramble to keep top employees from leaving, American companies are offering more bonuses and perks. It's not always a "money thing." Workplace culture expert Michael Rose says money is just one of the things that can motivate a valuable worker to decide not to go across the street to a competitor.
“But, I see that sometimes money's not the motivation, believe it or not. It's working at a great office,” Rose says, “with great culture and good people and delivering a great service.”
Rose says many companies are realizing the benefit of creating a strong, positive work culture when it comes to keeping the best employees.
It’s not cost-effective to keep replacing personnel.
“It's incredibly expensive to go through employee turnover,” he says, “through the cost of identifying and recruiting the new employee, training that new person.”