I got the following question from one of our subscribers the other day: "How do we retain new workers who join us today and, in two or three months, go to work someplace else for .10-.25 cents an hour more?"
Here are two ideas that have proven successful in the past...
1. Give a raise the minute a person is worth the extra money. When you wait until a specific date to give that first pay raise, you penalize the good or great performer by waiting until the average person would be up to speed to get the raise.
2. You might want to make that first pay raise retroactive. Example: At the end of 30 or 60 days you give a .25 cent an hour pay raise except you make it payable from the first day of work. So, for staying on the job and lasting four weeks a new employee would get an extra $40.00; if it was eight weeks it would be an extra $80.00. At 10 cents an hour that is all of $4.00 on a 40 hour week.