March 13, 2006

An award-winning entrepreneur, who runs his own highly-successful business consultancy and accountancy firm, believes there is more than just money when it comes to keeping staff in a job.

“Money attracts – but rewards are also important,” said Karl George, director of Birmingham-based Andersons KBS, when he spoke today (March 8) at a seminar that addressed some of the issues surrounding business growth and the challenge of staff retention.

Mr George, who specialises in executive performance coaching, business strategy and systems development, said it was sometimes possible to trade pay for benefits, such as longer holidays, flexible hours and job sharing. But he warned that when pay rates went up there could be resentment and morale problems in the wake of team members discussing salaries amongst themselves.

“It is better to devise performance indicators that relate directly to productivity and which are clear, objective and measurable,” he said.

Mr George, who has established a networking organisation whereby entrepreneurs benefit from businessmen and women who have established successful enterprises, said that the introduction of bonus systems and incentive schemes were often useful tools in the fight to retain staff. “Give rewards frequently - and when they are earned, but set up indicators to track performance, daily or weekly. And don’t think that incentives have to be big. Small and frequent is the key and make sure that incentives come with separate paychecks and on separate paydays.”

Mr George, speaking at the latest Seminars for Success “business growth” seminar organised by the business development team at Aston Science Park, Birmingham, said that non-monetary rewards, such as time off and small impromptu celebrations, also played their part. But he advised: “Don’t simply reward long hours or workaholics. Instead, encourage good time-management, efficient work practices and a balanced life.”

The seminar, attended by more than 90 people, also heard from David Cowburn, managing director of BOX telematics, who spoke about improving the productivity of remote workers and compliance with new legislation; corporate psychologist David Angliss, of leadership development consultancy Tools for Leading Change Ltd and Nigel Wood, senior partner at law firm The Wilkes Partnership.

The series of seminars are held in the park’s technology business incubator, Faraday Wharf sponsored by partners such as Aston University, KBC Peel Hunt, Lloyds TSB, Parker Business Development and The Wilkes Partnership. PICTURED: Karl George, speaking at the recent Seminars for Success event    For further information contact: Charlotte Hughes, PR Executive, Aston Science Park, 0121 260 6182 This email address is being protected from spam bots, you need Javascript enabled to view it