Retain Top Talent

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?

If you've attended any of our workshops on hiring, engagement, or retention - you know we call this HR tactic of a stay interview the LIB discussion. My experience is that most managers lack the skills of how to have this conversation and thus avoid it. 

Take note - employees want their managers to be better commuicators and empathetic - surprise!

The article quotes a study showing 60% of employees do not trust senior management. I just did my program today titled "You're the Person We Want to Keep" (engagement, retention, and employee productivity) for a Vistage CEO group in Canada. We talked about using 1-to-1s as a tool in developing trust between managers and employees. Very few CEOs do it with their direct reports and even fewer cascade it through-out the company. So simple - yet not doing it causes failure in communication, trust, retention, engagement, performance management, and coaching. It's horrible not to have a rigorous process for communicating with employees on a frequent basis.

Kill the traditional performance appraisal process - it's sadistic at best. Move to process of regular monthly coaching - you'll be amazed at the drop in turnover, the boost in morale and engagement, and perhaps, most importantly, the uptick in productivity.

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?

Interesting perspective of why employees are leaving - work life balance and a lack of flexibility in work hours/days.

Take note - employees want their managers to be better commuicators and empathetic - surprise!

What's the link between engagement and retention (or the negative element of turnover) - it's direct. Right now the research shows that roughly 50% of your workforce is open to leaving because of a lack of engagement, and other studies show that roughly 50% of your workforce is seeking greener pastures somewhere else. Small changes in employee engagement can have a dramatic impact  on retention and productivity.