Unlocking the Mystery of Retention

Business Issue

Over the past few months most major publications have continued to predict tough economic times for businesses. While much of the focus has been placed on job reductions and layoffs, little has been said about the issue business leaders should be paying attention to; how to retain the good employees and keep them engaged so they don't leave.

Some Perspective

Stock options, great benefits and flexible schedules only take you so far in the retention of employees. Even the most attractive pay, benefit package and working for an organization at the pinnacle of its success may not be enough incentive to keep your employees. Year after year, national surveys show that one of the top reasons people leave organizations is because of bad management or difficulty with a boss. So, it stands to reason that if your competitor also has great pay and benefits, you are at risk of losing your best if you don’t have effective leadership. Think about it. A person spends a significant part of his or her day at work. Fundamentally, people like to enjoy coming to work under management who values the maintenance of employee self-esteem and who keeps them wholly involved in the organization.
Case in point: Rhonda was a talented chemist employed for nine months by a growing pharmaceutical company. She was recruited for her specialized skills and she was eager to be a part of the new team. Three months into the job, she was starting to feel uneasy. Her boss regularly snapped at other members of the team when the desired results were not achieved. As a new member, she felt that much of the blame was placed on her. After six months, she was still not involved in setting goals for projects. When problems arose, some members where asked for their opinions and others were not. After nine months, she generally felt excluded. Her commitment waned and she became distrustful of what her manager brought to the team and her future growth inside the organization. She knew her specialized talents were highly sought after and that she could excel under better management. It didn’t take long for her to jump to a new organization.

A Solution

Employees like Rhonda can be retained. The key to unlocking the mystery of retention in your organization is the development of successful managers. Effective leaders focus on three critical management skills which act as the keys to retaining your employees:
• Interaction with team members on a day-to-day basis to maintain and enhance employee self-esteem.
• Basing discussions about performance and work habits on behavior instead of personalities or attitudes.
• Involving team members in goal setting, problem solving and decision making.

For more information about helping your managers become more effective, visit us Here.

The Skywalk Group