Have you lost any good employee talent recently? Do you think the loss was necessary? Was the defection for the purpose of a better opportunity, or because they “checked out” of your organization? That is, did they run away from your organization or run toward another one?
Employees leave for a variety of reasons. Boredom, under appreciation, underpayment, disillusionment, stress, deterioration of relationships, or the need to “move up” in their careers can all play a factor. Sooner or later all talent is likely to consider moving on. You’ve done it too.
Mitigate the losses incurred by addressing most of the needs (or perceived needs) that cause your employees to head for the door. The loss of one employee can be infectious, increasing your costs exponentially.
We all know that good employees tend to leave before the bad ones. Logic follows that if you are not retaining the valuable employees, and are unable to infuse the company with new high performers, over time your resources will dry up and your company will run against the rocks.
Think for a moment about your high performing, experienced workers. Those who carry with them wisdom, historical knowledge of the organization, and the respect of other staff who are more loyal to them than to the organization itself. What will become of your company if you have a mass exodus?
Why do waves of turnover take us by surprise? Because we weren’t paying attention.
What’s the main reason? You. Yes, it’s painful, but the reality is that most employees quit a manager, versus an organization. This means that the relationship you have with team members is important to productivity, harmony, and the bottom line for your organization.
- Prioritize spending time with your team.
- Schedule weekly or bi-monthly meetings with each member, and most of all, don’t cancel them!
- Stay engaged with each member’s workload, even if they are your star performers.
- Keep the lines of communication open and always recognize achievements through private and public praise.
The second reason employees quit is that their work has become meaningless. We spend most of our lives at work, and if people feel that their work lacks purpose, their time with your organization is ticking down each day. Even worse, if they stay and are completely disengaged, you have more of a loss than if they quit and move on!
Employees surveyed by SHRM (Society for Human Resources Management) ranked work itself as one of the top five contributors to job satisfaction.
- If a team member is unsatisfied, find out way.
- Help them understand how important their job is.
- Encourage them in their daily activities and point out how they lend to the overall goal.
Here are a few strategies that you can use in your efforts to keep your most productive employees, before they head for the door:
Take The Temperature
Check in personally with your key experienced personnel on an intermittent basis. The fact is that once people have “checked out” it is difficult to bring them back into the fold.
Disenchanted or resentful employees can take a long, slow path to leaving the company. This can be even worse than a quick exit. The negative impact on morale from this kind of employee’s excruciating exit process is hard to shake.
Get Them Involved
Help your experienced workers want to stay with the company by asking them for their advice, including them in decision-making, and offering them flexibility. Engagement is key. Withdrawal is the enemy. As withdrawal calcifies, a return to positive, engaged involvement is difficult to regain.
Are your most valuable team members receiving a realistic package that can compete with comparable options within the industry? Giving up a small amount of your budget here can pay off exponentially in a valuable resource retained.
It’s a good practice to know what your most valued employees want to become within the walls of your organization. Providing ongoing development opportunities, coaching, and education can make the difference between grooming or losing a star performer.