10 Reasons Why Your Top Talent Will Leave You
There is an old saying “Employees don’t quit working for companies, they quit working for their bosses.”
As you have likely experienced yourself, or heard from others, many seem to struggle with being able to retain their top talent. While most have some kind of process for recruiting technicians and admin staff, almost none have a process for retaining them. As a result, most of the people that work for you will fall into the following categories:
- More than 30% believe they’ll be working someplace else inside of 12 months.
- More than 40% don’t respect the person they report to.
- More than 50% say they have different values than their employer.
- More than 60% don’t feel their career goals are aligned with the plans their employers have for them.
- More than 70% don’t feel appreciated or valued by their employer.
So, for all those workshop who believe they have everything under control, re-evaluate your team. Regardless of tenure, position, title, etc., talent members who voluntarily leave, generally do so out of some type of perceived disconnect with leadership. Talent who are challenged, engaged, valued, and rewarded (emotionally, intellectually & financially) rarely leave, and more importantly, they owners perform at very high levels.
Workshop owners and leaders who regularly check in with their team members individually, via quarterly performance reviews, or as I like to call them, “Feedback Forums”, stand the best chance of getting to know enough about what truly drives and motivates their team. In these forums you have the opportunity to ask about their goals and dreams, where they see themselves fitting inside your business, and how they believe they are performing in their role. Armed with this information, you can tailor a pathway for each team member rather than just guessing that they have everything they need and are happy to stay.
If you fail to implement these Feedback Forums, you can expect your talent to leave over time for the following reasons:
You Failed to Unleash Their Passion: People thrive when they feel passionate about their work. Human nature makes it very difficult to walk away from areas of passion.
You Failed to Challenge Their Intellect: Smart people don’t like to live in a dimly lit world of boredom. You may have held someone back from learning a new skill.
You Failed to Engage Their Creativity: Employees NEED to contribute by putting their fingerprints on design. Smart leaders don’t place people in boxes – they free them from boxes.
You Failed To Develop Their Skills: matter how smart or talented a person is, there’s always room for growth, development, and continued maturation.
You Failed To Give Them A Voice: Perhaps you leadership style is too autocratic, and you don’t allow anyone in on the decision making process.
You Failed To Care: Of course people come to work for a paycheck, but that’s not the only reason. If you fail to care about people at a human level, at an emotional level, they’ll eventually leave you regardless of how much you pay them.
You Failed to Lead: Workshop owners who are managing, rather than leading will not set a good example.
You Failed to Recognize Their Contributions– The best leaders don’t take credit – they give it.
You Failed To Increase Their Responsibility: People will gladly accept a bigger workload as long as an increase in responsibility comes along with the performance and execution of the workload.
You Failed To Keep Your Commitments”. Promises made are worthless, but promises kept are invaluable. Leaders not accountable to their people, will eventually be held accountable by their people.
The Bottom line is, if you spend less time dangling carrots in front of your talent in an attempt to retain them, and more time trying to understand them, care for them, invest in them, and lead them well, the retention issue will take care of itself.
Would you like to learn to be a better leader?
Email firstname.lastname@example.org with TURBO in the subject line, and I will email you a FREE copy of my TURBO Leadership Method live recording. You will receive actionable steps to help you become a better leader and retain your talent longer.