New York SBDC Research Network

Excerpt from an article by Arihant Patni To read more, visit  LinkedIn "Managing Director at Hive Technologies Key employee retention is critical to the long-term health and success of your business. Retaining best employees ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and organizational knowledge and learning. As job hopping is increasingly becoming the norm, thanks in part to a workforce comprised of more millennial's who are likely to have twice as many jobs over their lifetimes as their predecessors, the baby boomers, let’s take a look at some key takeaways on how you can retain your best employees. Financial stability motivates people to stay in a job, that’s human nature. Apart from this, health care and insurance concerns also add to the list. What you offer your employees must be comparable to other businesses in your industry."

"How was your weekend?" the banker asked me. "Very nice," I said. "And yours?" "Not long enough," she said. (so much mediocrity ... so little time) I looked around to see if my wife, kids, or colleagues at work might be watching. I thought perhaps this was staged to watch the springs pop out of my head. I understand not everyone enjoys their work. I understand small talk clichés. But no one should complain about work to their customer or suggest to a customer that they'd like to be doing anything other than helping them. Ever. (customer = whoever you're paid to serve) More sad talk to avoid with your customers... • I'm so ready for the weekend. • Thank God it's Friday. • I've got a bad case of the Monday's. • Only a few more hours... • I'm ready for this day to be over. • Can't wait to be off. • I'll be better when my shift/ this day is over/ I get my coffee. • Hump Day! Only two days '

This week's New Yorker features an article by Malcolm Gladwell (author of The Tipping Point , What the Dog Saw , and other really interesting reads) called "The Sure Thing". I've always liked Gladwell's writing - not just for its clarity, but the way his iconoclastic approach never sounds contrarian just for the sake of being different. This article is more of this style. Its premise is that entrepreneurs don't succeed because they fit the romantic image of the reckless daredevil who doubles as a business savant, but rather from their innovative insights into an opportunity, combined with an aversion to risk and a predatory approach to getting the big deal done. The article cites numerous examples to back up this belief, and spends quite a bit of time detailing the exploits of John Paulson (a hedge-fund manager who made a huge fortune on short-selling credit default swaps just ahead of the housing collapse), and Ted Turner (to whom the myth of the populist bu