“People may come and go but company goes on forever. However, if too many good people leave then the company struggles forever”
Good talent comes at a cost so you need to offer them the best packages and work profiles as per industry standards. Talent retention is as important as talent attraction. It is not bad to lose people, but as the leader of your organization should be aware of who are they losing. If too many high-performers are leaving your organization, then it is an introspection moment for you to change certain things as soon as possible.
- Lack of Challenge- High performers like challenging profiles to engage their minds and hearts. Always hire people who are smarter than you or at least as smart as you are.
- Sluggish Growth- Grow with your people and always celebrate your victories with them. Offer them great work opportunities based upon their performance. Make sure that your policies are transparent and you keep the people involved actively in their appraisals.
- No Transparent R&R- Reward and recognize every good behavior you want to be repeated. Fail to reward your people and they will fail to perform when you want them to. Appreciation is a great motivator and it polishes the skill and talent of your people.
- Bad Bosses- Do not be a boss, and just act like a leader who understands. The way you treat your employees determines how they will treat your customers. Appreciate in public and coach in private.
- No Autonomy- Treat them like employees and they will work only as much as employees do. Make them feel like owners and they will take responsibility for the work. When it comes to knowledge professional tell them what needs to be done but do not micromanage on how it should be done. This is how you unleash their creative minds.
- Hierarchical Work-culture- Respect ideas and not just positions. Develop a flat structure where people are respected for the work they do, and not just the positions they hold. Minimize gossips and promote open and healthy discussions.
- Absence of Human Element- Do not waste time in some meaning less processes and policies if the employee is seeking help from you. People never forget what you do or fail to do for them. If you help your people when they need your help then they will be loyal to their role.
As simple as it may sound but if every leader has a heart to heart talk with the people within his team once a month, then the attrition rate in that organization will always be in control. People are not always looking for a solution but they are always looking for someone who understands them.
About the author:
#Siddhartha#Sharma is the #bestselling #author of 5 books- 60 Keys to Success, The Millionaire Entrepreneur, Love Your Mondays and Retire Young, Thank God It’s Monday, and Mom I Got the Job. His seminar, workshops and books have transformed over a million lives. He is also the Managing Director of #Success#Monks