Retention is a big issue in this era of the Great Resignation. Companies are recruiting more aggressively, and more people than ever are either actively or passively opening themselves up to consider other options. That means organizations need to make a real effort to retain their top talent.
In my work as an executive leadership coach, I emphasize four main areas in helping clients keep their best employees—and even recruit new ones:
Show respect and trust. People want to be respected, recognized, and valued. Show your employees every day that you care about them and you have their back, in important situations and in small moments. Everything you say and do should communicate your commitment to your employees.
Develop a mentorship program. Leaders who value their employees invest in their success, and a mentorship program benefits those who are early in their career as well as those with long experience. It’s a win-win, as everyone involved gains new knowledge and perspectives. A mentorship program improves engagement and builds strong teams.
Improve your employee compensation. Ultimately, the most important way to show you value employees is by compensating them well—in terms of benefits and flexibility as well as pay. Compensation is a key factor in employee recruitment, retention, performance, and satisfaction. If your compensation structure isn’t competitive for both new hires and long-term employees, it’s time to make changes.
Create a training and development program. The best employees want to keep their career moving forward, and part of your role as a leader is finding ways for them to do so without going elsewhere. A strong program of training and professional development, and a career ladder that keeps people from becoming stuck in dead-end jobs, is important in helping your people maintain momentum.
A trusted, well-compensated, advancing employee who’s engaged with the company and its culture is far less likely to leave for an unknown future. For leaders, that means a more stable and productive team and less time and money spent recruiting and onboarding new hires. The down side? There isn’t one.
Lead from within: One of the best ways to keep your company growing and successful is to retain the best employees.
#1 N A T I O N A L B E S T S E L L E R
The Leadership Gap
What Gets Between You and Your Greatness
After decades of coaching powerful executives around the world, Lolly Daskal has observed that leaders rise to their positions relying on a specific set of values and traits. But in time, every executive reaches a point when their performance suffers and failure persists. Very few understand why or how to prevent it.
Additional Reading you might enjoy:
- 12 Successful Leadership Principles That Never Grow Old
- A Leadership Manifesto: A Guide To Greatness
- How to Succeed as A New Leader
- 12 of The Most Common Lies Leaders Tell Themselves
- 4 Proven Reasons Why Intuitive Leaders Make Great Leaders
- The One Quality Every Leader Needs To Succeed
- The Deception Trap of Leadership
Of Lolly’s many awards and accolades, Lolly was designated a Top-50 Leadership and Management Expert by Inc. magazine. Huffington Post honored Lolly with the title of The Most Inspiring Woman in the World. Her writing has appeared in HBR, Inc.com, Fast Company (Ask The Expert), Huffington Post, and Psychology Today, and others. Her newest book, The Leadership Gap: What Gets Between You and Your Greatness has become a national bestseller.