Retain Top Talent

It's well known and well documented that impact players (pareto level employees) drive 80 percent of your results. They get done what 3-4 of their peers get done. Sometimes, the leverage can be a factor of 10X.

The big questions are how do find these people, how do we retain them, how do we identify them, and once identified, what's our specific plan to turn them loose so they can contribute 4-10X their peer group?

How hard are you willing to work at the acquisition and retetion of this group of impact or high performers?

I'm struggling to understand why more organizations don't have a better performance management culture - is it too much work, is it too hard to define success, or do we think it just will not matter?

One of the key points that I make in my workshop on Employee Engagement, Productivity, and Retention is that 90 percent of the issues we face in employee engagement, performance, satisfaction, and effort is what we did or didn't do in the interview process. 

This is an interesting question that applies to all employees. When I am consulting with my clients on writing Compelling Marketing Statements to replace traditional job description advertising - it's the first question I ask: why would someone leave the great company/job they have now and come to work for you?

I am shocked at how many employers cannot answer this question below the superficial level of ambiguous, generic, platitudes. 

It's going to be tough to attract great employees in the next year or two unless we can get to the heart of why would you come here?

My head scratching moment is why companies don't implement engagement initiatives. When employees don't feel engaged they give you the rock bottom level of productivity they think you'll tolerate to allow them to stay on the payroll system.

Gallup shows that 50-70 percent of your workforce is dis-engaged. It's a crying shame how little productivity you actually get from your workforce compared to the potential of what you could get.

Why don't more companies make engagement a process instead of crossing their fingers hoping that because their employees show up for work that they must love their jobs. Nothing could be further from the truth!

Another good article from HBR on creating a sense of belonging in the workplace - I ask the question again if you're missing opportunities to create high performing teams?

Key points to think about given the studies currently show that 50-65% of your employees are seeking greener pastures elsewhere. How do you fight the "great resignation" - offering competitive compensation, improving learning and development to help people become better, and engaging employees through initiatives around defining success, recognition, and helping them to see that they matter.

Excellent article on employee engagement initiatives and some great metrics to track success on employee engagement, satisfaction, and productivity.

34% of employees indicate they quit because of a lack of learning and growth. What a shame! A small investment in training, development, learning, career growth - could have a huge payoff in employee engagement, productivity, and retention.

Why don't more companies invest in employees - the most common answers: they don't feel there is enough of a return, or they don't want to train employees for better opportunities in other companies. 

Is that not the most dysfunctional thing youve heard? I'm so shocked when I hear it in workshops, I can barely speak.

Kill the traditional once a year peformance review - it's a sadistic exercise at best hated by both employees and managers.

Celebrating your employees is a powerful retention device focused around non-monetary rewards and recognition. How do you celebrate the people in your organization?

Some good ideas from Forbes on managing a remote workforce and sustaining culture - particularly for smaller businesses. One key point that they leave out is how you build trust to allow people to work when you can't see them -- through a rigorous performance management system!

Research indicates half of your employees who dont think you have an adequate non-monetary reward/recognition program - are looking for a new job. How do you execute on showing appreciation, gratitude and thankfulness?

Some great examples and specific illustrations for employee recognition and rewards - number two issue behind not defining success in clear precise terms.

When you don't have a "robust" non-monetary reward and recognition system - using available apps and technology - then many of your employees turn off, disengage, and start looking for greener pastures elsewhere.

Are you falling victim to the great resignation becuase you have a weak or mediocre recognition program?

I get asked a lot in my workshops on hiring and on employee engagement - what should we be doing with on-boarding (especially when hiring a virtual/remote team member?) 

Here are some ideas to consider as part of your on-boarding plan.

Two of the top reasons people are leaving is lack of growth - training, development, coaching, new experiences, adding more impact and value -- and a lack of appreciation, gratitude, and recognition for hard work and knocking it out of the park. Why should I work hard if no one cares or recognizes it. Instead, I'll just give the rock bottom minimum effort I think my boss requires to allow me to continue to receive a payroll check.

There might be no more powerful way to show your appreciaion and gratitude - thus motivating your employees to show greater effort and productivity - that to occassionally say thank you.

I teach in my workshops on employee engagement and retention that's  the first step in creating a vibrant culture of caring and recognition.

Do you have a well-articulated set of values that employees can grasp and understand. Are all your people management systems tied into it - how you measure alignment on values, coaching/feedback for managers to give employees on values, and your non-monetary reward and recognition system tied to putting employees on display when they demonstrate or exemplify your values?

"be intentional about creating the conditions for employees to gain a sense of belonging. Unfortunately, 43% of employees say their organization isn’t doing enough to help them feel connected to their colleagues—but there’s a lot an organization can do"

Are you experimenting with initiatives to improve employee connections and belonging? This is a hallmark of high-performing teams - are you missing opportunities for your employees to work better together?

A good article on building the confidence of your team for higher levels of success. In my work over 15 years with HS girls basketball teams I've realized that instilling confidence can be a huge factor of team success.

Next to not defining success in clear precise terms, not providing a rigorous approach to employee recognition and rewards is a guarantee of 50% of your staff seeking greener pastures elsewhere.

Some key points from this article:

• Companies that make employee recognition a priority have workers who are 56% less likely to be looking for a new job, according to a new Gallup/Workhuman survey.
• Employees are also 73% less likely to feel burned out when recognition is offered.
• However, 81% of leaders say recognition isn’t a major strategic priority for their company.

Simple tactics like peer to peer review, a hallway of honor, writing thank you notes expressing gratitude and appreciation can go a long way toward overcoming the depressing element in most companies that no one cares how much you try.

Why do so many companies barely scratch the surface on creating a great employee reward and recognition process/system. Are most organizations still stuck in a 1970s model of "I pay you for work - I shouldn't have to pat you on the back for doing your job well?' I like the structured approach in this article to laying out the foundation for why employee reward and recognition is important - and the benefits that come from it.

Interesting split between employers and employees regarding culture and engagement. Are you making the wrong assumptions about your environment or your people?

Many of my Vistage and TEC clients are frustrated by the discussion on employee engagement since objective measurement seems squishy. Here are some KPIs/Metrics you might consider using to measure your employee engagement. I would love to hear how these metrics have helped you to improve employee engagement.

How often should you be taking the pulse of your employees? Have you ever used an employee survey? Are you afraid of what you might hear?