Learn Why Good Employees Leave Their Jobs
In conversations with other business leaders, a common concern out there is the fact that unemployment rates are so low that it’s easy for people to find a job anywhere. And so the question becomes, I’ve got really great people, how do I improve employee retention? As I’ve thought about that, I’ve talked to people who are trying to throw more money at the problem. They think we just need to increase wages, we need to do more bonuses, things like that. Or they try and throw benefits at it, right, like ping pong, unlimited time-off, or more food in the office. But the reality is, people, want to feel valued, they want to feel engaged with their work, they want to feel successful with what they’re doing.
And so the question then becomes, instead of how do I throw more money at this problem, what can I do to get people engaged? I like an engagement to loyalty, and the reason I say that is because loyalty is rooted in emotion and that emotion is, how do I feel about myself when I wake up on Monday morning at 7 a.m. to get ready for work? How do I feel about myself when I arrive in the parking lot at the office, and I get out of my car to go to the front door? How do I feel about myself when I have a conversation with my team leader about my performance? If the answer to that question is dread, fear, anxiety, then you’ve got somebody who’s probably on their way out of the door. So, how do you change that? How do you get them to be excited about what’s going on, on a daily basis?
Improve Employee Retention by Engaging With Them
For me, this is all about connecting the dots right. I’m connecting the dots between the overarching mission objective and how they benefit. And then I’m also identifying specifically what I’m expecting of them, and I’m practicing accountability to help them be successful to the extent that we can dedicate time, effort, and ownership to helping our people be successful. They will then rise above the minimum and start delivering discretionary effort. They’ll get excited about what they’re doing and overall the company will be much more successful than if we just keep throwing dollars at people who are already on their way out the door.