By Founder & CEO Scott Savage.
Do you treat each and every one of your employees like they are the most important person in the world?
In my opinion, there are two reasons to do so:
First: To each of your employees, they are the most important person in the world!
Second: They are the people who control your customer experience!
Business owners and leaders usually tell me that they are customer-centric. “It’s all about the customer.” Heck, my company’s tagline is “You come first. All the time. Every time.”
Successful leaders I have been around focus on their employee experience because their employees are the folks who usually interact with their customers.
In business circles, 2021 is being called “The Year of The Great Resignation.”[1] According to the Bureau of Labor Statistics, a record 8.7 million people resigned from their positions in the months of August and September alone.[2]
Many have speculated on the “Why” behind these numbers, and just about every business we work with has numerous unfilled positions that are stunting growth prospects and forcing innovation in hiring and retention practices. COVID-19, career switching, trouble with child and family care, and a surge in early retirements are combining to empower the workforce like never before.[1]
Source: U.S. Bureau of Labor Statistics, Job Openings: Total Nonfarm [JTSJOR], retrieved from FRED, Federal Reserve Bank of St. Louis, as of November 29, 2021. The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying that quotient by 100.
Many employers react to this “threat” with fear-based behavior. One company I am aware of stopped their drug screening for prospective new employees.
I believe employers who see this time as an opportunity to understand what their employees and prospective employees value about their work - and create the conditions that reflect these values - will thereby elevate both the employees' as well as the business' experiences. For example, we often help employers design their 401(k) plans in a way that both reflect their company values and are valued by their employees. This may require a newer and deeper understanding of what your business stands for.
Research is clear that after an employee feels like they are paid a “market” rate, their job satisfaction at work is driven by non-compensation factors.[3] As Daniel Pink writes about in his bestselling book Drive: The Surprising Truth About What Motivates Us, people are looking for three essential elements in order to find meaning and motivation in their careers:[3]
Autonomy - the desire to direct our own lives
Mastery - the urge to get better and better at something that matters
Purpose - the yearning to do what we do in the service of something larger than ourselves.
As employers, if we can help our colleagues focus on what they do best, then we as founders and CEOs can focus more on what we do best. This can help everyone enjoy their careers more, decrease employee turnover, and lead to better business results.
Important Disclosure Information & Sources:
[1] “Who Is Driving the Great Resignation?“ Ian Cook, 15-Sep-2021, hbr.org.
[2] “Job Openings and Labor Turnover – September 2021“. U.S. Bureau of Labor Statistics, 12-Nov-2021, bls.gov.
[3] Drive: The Surprising Truth About What Motivates Us. Daniel H. Pink, 2011, Riverhead Books.
Advisory services are provided by SJS Investment Services, a registered investment advisor (RIA) with the SEC. Registration does not imply a certain level of skill or training. This material has been prepared for informational purposes only.
Hyperlinks to third-party information are provided as a convenience and we disclaim any responsibility for information, services or products found on websites or other information linked hereto.
Suggested Reading
SJS Investment Services has been recognized in CNBC’s 2024 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the USA.
SJS Investment Services has been recognized in the Forbes / SHOOK 2024 list of America’s Top RIA (Registered Investor Advisor) Firms.
Every four years, we get the same question (whether you have asked it, or you are thinking it) – how will the election affect my portfolio?
As we approach the end of the year, we want to highlight some important financial items to review before the new year.
This Outlook includes our discussion of election time, financial to-dos before the end of the year, new SJS Perrysburg office, SJS Team updates, and looking forward to Q4 2024.
SJS Investment Services has been recognized in Financial Advisor Magazine’s 2024 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
As I approach my 40th anniversary as a financial advisor, I can't help but look back on the road I've traveled.
While people commonly hold their cash within checking and savings accounts, we want to highlight three short-term, interest-bearing investments that can be held within your investment account.
This Outlook includes Founder & CEO Scott J. Savage’s gratitude for your 40 years of trust, how you can earn more interest on your cash, welcoming new SJS Team members, and looking forward to Q3 2024.
For five graduating high school Seniors who shadowed us recently, we asked each student to write a summary of what they learned during the week.
One of The Ability Center’s services is the Assistance Dog training program, which helps individuals with disabilities achieve greater independence.
When working with investment managers, we want them to share that same client-first philosophy and sit on the same side of the table with us.
We want to emphasize some best practices that can help us work together to ensure your information and assets remain safe.
The Outlook includes our evolving MarketPlus® Investing philosophy by standing on the shoulders of giants, and ways to help protect your personal information and financial assets. We also highlight The Ability Center and look forward to Q2 2024.
SRDAX is a shining example of the value alternatives can bring to traditional stock and bond strategies.
As we begin the new year, we have some ideas for concrete actions to start your new year on the right foot, financially.
Isn’t this picture magical? It's Main Street in Sylvania, Ohio, the small town where I founded SJS over 28 years ago!
The SJS Q4 2023 Outlook includes our insights on small town values, MarketPlus® Investing, and planning financially for the new year. We also highlight new SJS Team members and look forward to Q1 2024.
To help you financially plan for 2024, we provide this resource with important numbers for the upcoming year.
SJS Investment Services has been recognized in the Forbes / SHOOK 2023 list of America’s Top RIA (Registered Investor Advisor) Firms.
In addition to family gifting, many individuals support giving to organizations that aim to help their communities. We highlight some strategies to make the most of your giving dollars.
You can consider putting excess cash into a money market fund, short-term U.S. Treasury bonds, or a short-term bond mutual fund / ETF.
The future of the housing market is uncertain, and its resilience will be a crucial factor in the broader economic landscape.
The SJS Q3 2023 Outlook includes our insights on gifting and charitable contributions as well as U.S. real estate. We also look forward to Q4 2023.
SJS Investment Services has been recognized in CNBC’s 2023 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the United States.
International Samaritan is a 501(c)(3) nonprofit organization that is working to break the chains of poverty and improving lives, particularly within garbage dump communities worldwide.
SJS has been recognized in Financial Advisor Magazine’s 2023 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
The SJS Mission is to empower you to build a better life. That extends to our teammates, clients, and community members.
The SJS Q2 2023 Outlook includes our insights on building up our local communities as well as market performance so far in 2023. We also share even more members of the SJS family and look forward to Q3 2023.
It’s important to recognize how difficult it is to predict what will happen in the short-term for investment markets, and how much margin for error there should be for any prediction.