1. Departing Employees – Are Your Assets Protected?
Entrepreneur.com
2. Workers’ Engagement Levels Drop, Along With Their Expectations
Society for Human Resource Management
3. Stocking Your Talent Pool
HR Magazine (includes an interview with Lee Vikre of McMurry, an Arizona Technology Council member)
4. It’s Not About the Money… How Managers can Affect Retention of Top Talent
(Contributed by Maria Utagawa, achieveHR)
In a study out earlier this year by Robert Half International, corporate executives reported that the number one reason good employees leave their jobs is “unhappiness with management”. Up 12% from 2004, a whopping 35% of departing employees quit for this reason. Having worked in the people business for 15 years, I can’t say I’m surprised. I’ve always believed that the relationships that managers build with their employees is the most critical component of talent retention. Now, top executives are taking note and will expect their managers to do the same.
If your top employee tells you he’s leaving for a better paying position with the competition, it’s probable that you somehow failed to keep him happy and engaged. Or, he would not have considered talking to the competition in the first place. He may tell you he’s leaving for more money, because for obvious reasons that’s easier than: “I don’t like working for you because ________________”.
So, it may be high time for some self reflection. Here are a few things to consider:
- Conduct an exit interview. Have an objective person, such as a Human Resources representative, obtain feedback from the departing employee and be open to receiving it and acting on it.
- Understand your strengths and weaknesses as a leader. Ask for feedback from your manager, peers and employees. Also, there are many assessments available that can help you gain insight in to how you are being perceived as a leader. This can be a humbling exercise, but you will find it incredibly valuable.
- Have real and frequent conversations with your top performers and stress your commitment to their growth and success. If current business conditions hamper promotional opportunities, make sure that your top performers are exposed to plenty of stretch projects and professional development in the meantime.
- Acknowledge strong performance, consistently and publicly. It costs you nothing, but pays back immensely.