I always say that the main reason that I don’t want to have employees is that I was an employee once too. An employee wants to get paid as much as possible and the employer wants to pay as little as possible. I have yet to find the employee who says they make too much money and I have yet to find the employer that says they pay their employees too little. Any organization that wants to be successful needs a staff of employees that are competent and worth their salary. So for a retirement plan provider, that usually means having a good staff of loyal, well-trained employees. Due to the nature of the business, there are so many retirement professionals that aren’t very good especially because they never got the proper training. If you have a great team of well-trained professionals, you need to make sure they stick together. It’s no different than a professional sports team, you can’t afford to lose great people through free agency and unlike pro sports, there are no guaranteed contracts in the retirement plan industry. This article is all about how to treat employees and avoid the revolving door of them that could only negatively impact business.
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