Want to retain talent? Read this.

In a recent study drawn from over 32 million employee survey responses, Peakon finds that there are measurable warning signs which show up 9 months prior to an employee deciding to resign.

Read that study here: https://heartbeat.peakon.com/reports/the-9-month-warning-identifying-quitters-before-its-too-late/

Basically, the study found 4 main reasons people decide to quit their jobs. Those are as follows:

1. The employee finds the work unchallenging.

2. The employee feels like they cannot discuss pay.

3. The employee doesn't feel great about their manager.

4. The employee cannot see a path for personal growth and development.

My thoughts? If we as leaders want to retain talent, we'll need to focus on these areas:

1. Increase employee engagement through offering challenges and publicly acknowledging accomplishment. Leaders, do the work to develop and define challenging opportunities. Set clear expectations and offer assistance when the employee hits a roadblock. Progress should be consistently measured. When the challenge is accomplished, acknowledge the employee's achievement both privately and in front of their peers. And make note of this, the days of managers and senior managers taking credit for the work of their teams needs to end.

2. Establish a culture of openness and transparency. If an employee can't even have a conversation about present or future pay, they'll find a place more human-centered. Even if budgets are tight or a salary limit for the position has been met, be willing to listen carefully. Great leaders don't hoard talent on their teams. When necessary, they identify other open doors for that employee which may meet the salary ask while retaining the talent within the organization.

3. Lead well. Employees are people and deserve to be seen and heard. A leader who will not work toward creating a team culture of common care and relationship-building deserves to be left. Your team, not your product, is the success of your business. Treat them as such.

4. Create and communicate opportunities for career growth for your team. When we build people, we build the company. Help your team to envision the better future. Equip and empower them to become a critical part of that shared plan. Leaders should work toward providing clarity, especially when the path forward seems a bit ambiguous.

#leadership #employeeretention #leadershipmatters #leadwell