There are few things more frustrating for business owners or managers than valued employees leaving the company. It is so disheartening when you have invested time, training and money to see someone handing in their notice.
It’s a misconception that people are struggling to find the right jobs. The truth is the reverse – businesses are struggling to retain the right people. Why is this?
By the right people I mean those who understand their value and do everything they can to help the company fulfil its aims and achieve its targets. These are people who love what they do and feel inspired by seeing the company grow as a result of their own personal growth. Employers often feel that they’ve gone to great lengths to ensure their staff are happy and are caught off guard when someone leaves.
But what have you really done to look after your workforce? Many employers take the easy approach by offering their best employees a pay rise and expecting them to be satisfied. In reality a pay-rise alone will never generate a loyal, stellar employee for any business in any sector.
There are many reasons why people leave the right jobs, including work environment, pay and a stressful workload. However the most fundamental cause is a lack of feeling significant.
The right people value significance over all else. Verbal praise and a pay rise are often simply not enough to instil a feeling of value into employees.
This leads us to a critical concept that I cover in my leadership training sessions – The importance of understanding diversity.
People generally feel significant in varying and diverse ways and managers can save significant amounts of money and energy by developing an understanding of the things that make employees feel significant.
Here is a simple but powerful task for you as a manager or business owner to examine how much you know about your employees and what makes them feel significant.
You must be curious and delve deeper into the lives of your high performing employees. Show them you care and pay attention to the details of their career and daily tasks that are important to them. Show an interest in their personal life if they demonstrate that they are comfortable sharing.
The photos and stories that they share with you and other colleagues reveal so much about their personal and professional values. Your employees are far more likely to continue working for you happily and performing well when their values are fulfilled in the work place.
If retaining your best employees is a challenge, look inwardly at your leadership style and commit to getting to know your employees better and showing that you care.