The Retention Trap - by Mark Peters (Paperback)

Book Synopsis

In this eye-opening book, The Retention Trap, Butterball Farms CEO Mark Peters challenges leaders of small and mid-sized businesses to break free from a cycle that prioritizes costly wages and benefits without addressing the deeper issues that lead to employee turnover. For thirty years, Peters focused on traditional methods, only to discover that they often miss the mark and fail to deliver lasting results.

It wasn't until recently that Peters uncovered the sophisticated strategies used by large organizations--strategies that many small and mid-market leaders may overlook as they focus on the immediate demands of their business. These approaches, while proven effective on a larger scale, can be adapted to suit the unique needs of smaller businesses. This book reveals how to make those strategies both accessible and impactful.

Peters urges you, as a leader, to shift your mindset. Instead of fearing turnover, delve into what truly motivates your employees. By embracing this understanding, you can cultivate a culture that is both enterprise-centric and people-centric, turning talent investment into a powerful competitive advantage.

With 40 percent of workers actively seeking new opportunities, the competition for talent is fiercer than ever. Peters' insights are both timely and essential. The Retention Trap encourages leaders of small and medium size enterprises to learn from the strategies of large organizations and apply their entrepreneurial problem-solving skills to create thriving workplaces that attract and retain top talent.

About the Author

Long seen as one of the nation's leading C-suite visionaries, Mark has been recognized with the 2022 Lifetime Achievement Award by Vistage; the 2014 People 1st Award presented by McDonald's; and the 2008 Excellence in Urban Business Awards by Inner City 100.

Mark's company, Butterball(R) Farms, Inc., is a second-generation family business based in Grand Rapids, Michigan. Butterball(R) Farms is America's leading culinary butter and margarine producer and creates custom butter flavors for some of America's biggest brands.

His tenure at the company began at twelve, on the floor of the factory--an experience that taught him firsthand about the challenges that frontline workers face. At thirty he took over the company, determined to lead a financially successful business that would also enrich the lives of its workers.

In 2003, Mark organized a pioneering group of CEOs and community leaders to found The Source. This not-for-profit organization has helped thousands of workers navigate personal challenges interfering with their jobs and delivered an average annual return on investment of 329 percent to its partner organizations. The Source's West Michigan-based model has been replicated in cities and regions across the United States. Mark is expanding its mission to help frontline workers maintain their jobs and progress into better positions within or across partner companies.

Mark wrote about the model used by The Source in his 2020 book, The Source: Using the Power of Collaboration to Stabilize Your Workforce and Impact Your Community.

Mark has appeared on podcasts ranging from Harvard Business School's, Managing the Future of Work, to the BBC News, the Leadership Junkies podcast with Jeff Nischwitz and Craig Matthews, and his work and the work of The Source have been the subject of features and profiles in numerous locales.

An engaging speaker and storyteller, Mark lives in Grand Rapids with his daughter and dog and is an avid sailor, biker, and skier.