Have you ever used the golden handcuffs on any of your team members since you started your business?
If you have been in this business game long enough, you know how tough it is to find highly effective and valuable team members.
When you think you have found them, without even realizing it, you lose them because you didn’t use the golden handcuffs on them.
I know you will be asking, BM, are they prisoners that we use handcuffs on them? What exactly are these golden handcuffs?
Well, Golden handcuffs are incentives designed to keep your best performing people from leaving. They make it very costly and difficult for your team members to leave, both financially and professionally.
These can be in form of high salaries, bonuses, stock options that increase in value the longer they stay with you, profit sharing, advance training, leadership roles and asigning unique projects to them.
You see, its not only about money, but also about their professional growth and emotional ties at the workplace. If you start using the golden handcuffs, you are not just only retaining talent, rather you are investing in the future of your business.
It’s always magical when you create a situation where staying with your company is always more attractive than leaving.
When your team feels this level of care and investment, their commitment isn’t just about the benefits they receive anymore. It’s about the emotional connection they have with you and the company. They stay because they feel part of something bigger, something that values them as individuals, not just as team members.
In my upcoming book – Leading with the heart of love, the golden handcuffs is part of the tools for leading with love. This tool ensures that your team is not just locked in by contracts and perks, but by the trust, respect, growth and affection they feel in the workplace.
So, as you lead in your business, consider how you can use these golden handcuffs not just to retain your talented team, but to build a strong and loving connection that makes them want to stay and grow with you.
If you have never thought about using golden handcuffs before, now is the time. Don’t let your most effective team members slip away because of simple ignorance. Keep them close, keep loving them, keep them engaged, and watch your business thrive.
I am the Billionaire Mechanic, you see these ones in this picture, they are wearing the golden handcuffs.