Merge Gupta-Sunderji delivers keynotes and workshops to turn managers into leaders.
Let’s get one thing out of the way right now; it’s not about the money!
Now, don’t get me wrong, you do have to pay competitively. If you’re paying less than the going rate, then your people will walk – right across the street to where they feel like they’re being paid what they’re worth. But once you pay fairly, money becomes a non-issue. Note that “fairness” has to be in the eyes of the employee, so as an employer, you need to stay abreast of what’s happening in both your industry and geography in terms of pay scales. If you pay a fair wage though, then money is no longer a decision-making factor. Instead, there are a whole host of other reasons that your employees will stay … or go!
As a leader in your organization, this is something that you have to keep thinking about. As the Canadian labour market continues to tighten and competition for people goes up, your good employees become even more attractive to your competitors down the street. And the poaching isn’t just limited to companies in your industry; often, your best will be lured away by organizations and firms that you didn’t even know existed. With that in mind, here are five practical strategies that you can employ to keep your talent from walking out the door.
#1: Remove Bureaucracy
Substantial research has shown that bureaucracy is the number one reason people quit their jobs. Tedious and unreasonable company policies and administration drive employees away. Whether it’s having to jump through hoops to be able to take action, or needing to fill out form after form to achieve results, unnecessary administration frustrates employees to no end. If you are in a larger organization, you may not have the ability to eliminate some of the perceived bureaucracy, but in your role as a manager or supervisor, you can be a “buffer” to soften the impact on your employees.
#2: Learn to be a Good Leader
The same research that identified bureaucracy as the primary cause of employee exodus also ranked poor management as the second most common reason that employees resign. If your leadership skills are poor, your employees will leave at the first opportunity. And in a tight labour market, alternative opportunities abound. If you’re losing employees rapidly, you might want to assess the leadership skills of the managers in your organization. The good news is that effective leadership is a learned skill. Invest in leadership development for your people – it will pay dividends. Read some of the many books available on the subject. Find yourself a mentor who can help you develop these skills. And if you’re already a good leader, be a mentor to someone else.
#3: Give Sincere Praise, Often
Employees value recognition for their achievements, and sincere praise is so easy to give, yet costs so little. Offer thanks for their efforts, both large and small. Let them know verbally and in writing. Most importantly, do it often. Don’t save it for the annual or bi-annual performance meeting, let them know as soon as you observe it. In fact, my personal rule is “within 24 hours of the event having occurred.”
#4: Open Communication
Yes, you’ve heard this before, and it’s still true. Remember that communication is a two-way street. Actively solicit input and listen to what your people have to say. If you include them in the process, they’re invested in your organization. Share information freely and promptly. Even if your facts aren’t complete, let them know whatever you know. Let’s face it, there are very few secrets in companies. If you don’t share the truth quickly, employees will make it up. Many a manager will vouch for the efficiency of the company grapevine, and since you can’t fight it, you might as well feed it: with accurate information instead of speculation.
#5: Create a Fun Workplace
Don’t frown at laughter at work – encourage it. I recall one manager who insisted that laughing in the office was unprofessional and conveyed the wrong impression to clients. A small percentage of people may agree with this one manager, but the benefits far outweigh the possible disadvantages. People who have fun at work want to come to work and they want to stay at work. Create opportunities for your people to have fun.
It is possible to keep the best. With some up-front effort, you can become – and remain – an employer of choice.
For more information on Merge Gupta-Sunderji, please contact Speakers’ Spotlight.
Tags: Employee Retention, good leadership, keynote speaker, Merge Gupta-Sunderji, Why Good Employees Jump Ship
