How To Attract, Motivate, And Retain Top-Level Executives

Man Being InterviewedMany companies fear their top-level executives will feel, at some point, that they have hit their glass ceilings.  Innovative companies know this and prepare for this by offering executives something other than monetary rewards.  In this blog, read about what HR Magazine suggests to attract, motivate, and retain your top-level executives.

Companies that have executives understand the importance of them.  Executives keep processes growing and moving forward, they have the experience behind them to make high-level business decisions.  They are also at a point in their career in which they take complete ownership over their tasks.  So, when higher pay is no longer desired or possible, how can you keep executives motivated to not only show up to work every day, but also care as much about their tasks as the day you promoted them?  In other words, how can you keep your executives excited about their jobs and not want to retire early?

Balance Incentives

Executives are still going to want to get paid what they’re worth, however they might also want a piece of the company pie.  Keep in mind, though, that too much or too little of each is going to throw your incentive package off balance.  Surveys have shown that long-term incentives aren’t as exciting to executives as once thought, such as stock options.  However, they’re still somewhat important.  So, when it comes time to have the salary discussion with executives, balance their package out by paying them what they’re worth, offering long-term incentives, and offering more short-term bonuses.  Executives have often already met their long-term career goals, now it’s time to throw in the satisfaction of hitting short-term goals.

Instill a Sense of Achievement

As I said, executives are at a point in their career where they have met their long-term goals.  They have climbed the ladder and have reached the top.  Now is the time to focus on making sure your executives are doing what they want to do.  At this point, their entrepreneurship instincts may kick in, thus giving them the inspiration to bring something innovative to the table.  Make sure they have the time, flexibility, and freedom to work on their big ideas for your company.  After all, their idea could be the next big thing to push your company in a direction you never dreamed.

Have you recently promoted a top-performer in your company to an executive position?  Let Serenity Staffing find someone just like them to fill their now vacant spot.  Serenity Staffing is a Minneapolis metro based staffing company that can help you find your next top-performer!  Be sure to connect with us on Facebook and LinkedIn to get updated on our weekly blogs!