How To Stop Your Employees From Leaving - September 29, 2015
Today, competition in the job market is fierce . The workforce is a transient environment, with the average U.S. worker staying in a job only 4.6 years, according to the Bureau of Labor Statistics.
When a valued team member quits his or her job, it can set off a chain of difficult events for the company — and the co-workers they leave behind. First — bosses and teams often find themselves scrambling to divvy out the workload. Most (if not all) of the resigning individual's intellectual property is destroyed — and this can cause great frustration for all parties involved.
Second, depending on the talent left at the company — many remaining team members may feel shaken up over the loss — especially if they were close friends or colleagues. They may feel demotivated to continue working for a short time, and this can be disastrous for company productivity.
And third, hiring a replacement isn't easy. Resumes from unqualified candidates flood in, which results in potentially tons of interviews. Who has time for that?
Yet, managers everywhere still don't get why their employees leave. Or, more importantly, they don't understand how to get them to stay. Promotional Consultant Today shares these five retention tips.
1. Make sure the job is what the employee expected.
It's shocking to know that upwards of 30-40 percent of all American workers quit their jobs within the first year. And one of the main reasons reported is that they simply didn't have a realistic view of their new role. Hiring managers are famous for writing long job descriptions that say absolutely nothing about the real job. Make sure the job description is candid and real.
2. Pay employees what they're worth.
We all want to make a million dollars, but most of the smart ones, at minimum, simply want to be paid what they are worth. If they are contributing value to the organization, make sure you are paying them fairly in return.
A trick to making this work is to be open and transparent with current external market salary ranges — and where their salary fits within that range.
3. Give them constructive feedback
As human beings, we all want to learn and grow. But it takes a village to raise a warrior - and the same holds true when working to help a team member to be successful. Frequent and actionable feedback is critical to helping someone achieve their career dreams. If you do this- in most cases your team members will turn right back around and help you build a stronger business.
4. Find hidden opportunities for employees to grow.
Actions speak louder than words. As a manager, you can talk about how great your team members are — but if you don't show them a real path to advancement they will leave you in a heartbeat. Find hidden opportunities that allow team members to shine. These can be as simple as taking on the lead role for an important project or lending your employees to help another department during a busy or critical time.
5. Give a bit of freedom.
I'm an avid proponent of flexible work schedules and a firm believer that if you want the most out of your team members , you have to give them the freedom to give it to you — on their terms. Instead of driving a "butts in seats" approach, drive a results-focused work environment. Hold team members accountable for delivering results, rather than just punching a clock.
Wish you could be a better leader? We all have challenges, but the role of a manager is not to tell your people what to do — but rather to give them the support they need to be successful.
Source: Kristy Schoenberg is a people operations professional and fanatic about technology and design. She believes that the best product differentiation is people differentiation. She writes about what comes to mind — often around business and start-ups.
Bonus: Sign up now for a live webinar that teaches the unconventional secrets of high performance management. Expert Troy Harrison says most managers perform three activities: hiring, firing and dictating. In this 60-minute webinar, he teaches a management method based on relationships and persuasion—one that generates better results, lower employee turnover and higher performance from your staff. It's free for PPAI members and $15 for nonmembers. Mark your calendar for October 28 at 1 pm central time. Register here.