By Ben Brooks, founder & CEO of PILOT
That faint knock on your office door or that ominous 15-minute “catch up” meeting scheduled on your calendar by one of your star performers. Then comes the news you’ve feared and have been avoiding; they’re resigning. You remain calm on the outside, but inside you panic. Experienced managers have seen this horror film many times, and it usually results in the manager trying to convince or even beg the departing employee to stay. This is both likely a bad idea and symptomatic of a larger people management and employee retention issue.
If you do convince them to stay (likely by offering more money) you’ll be setting up an unfortunate power dynamic. You may have (temporarily) succeeded at preventing them from leaving, but you’ve likely only bought yourself limited time. During this time your colleague will likely have sub-par performance, knowing they were never really appreciated since you only acted once they said they were quitting. Plus, you’ll signal (yes, everyone does talk) to other staff that quitting is how you get a raise and attention. All bad dynamics to create.
Here’s what you must admit: Your best people will eventually leave. If they are great they have lots of options beyond your organisation (even if not visible to you), so you need to act as if they are surrounded by opportunities to leave. Second, the labor market is rapidly shifting, both due to changes in talent development strategies at firms (moving from build to buy) and generational preferences. This means that switching companies fairly frequently, once shunned, is now viewed as advancing one’s career without much stigma.
So what do you do instead?
- Upgrade them: In short, be proactive and eliminate reasons for your best people to quit. Start by upgrading their job without asking them. Isn’t it a rush when an airline or hotel gives you an upgrade? Give your employees that same sense of importance and delight by engaging them one-on-one to let them know they are appreciated. Reinforce your commitment that they love working for you. Do this by asking about their unmet needs and identifying what barriers they have to doing great work for you. Most importantly, take what you hear and do something about it.
- Treat them like customers: Most successful companies do a good job of treating their customers with respect, making them feel appreciated and engaging them in an empathetic manner. Guess what? The same best practices you use with customers work great with your employees. Remember the golden rule – how would you want to be treated if the roles were reversed? Take on their perspective and have empathy when you make decisions and communicate. Show them they’re appreciated by surprising and delighting them, perhaps with an unexpected team outing, a nice gift or even bringing in food. Additionally, invest in their development and growth both with your time – setting clear expectations, giving meaningful feedback, and thoughtfully assigning work that will help them grow, and your resources – by sending them to conferences, on business trips and to trainings.
“An ounce of prevention is better than a pound of cure” rings true when it comes to employee retention. Being proactive is simply smart business. We all know how painful and costly it can be to lose good people. Yet most companies fail to manage talent attrition as a major risk, as they would cybersecurity or changes in their supply chains. When you know something is a risk to your company, in particular if it is likely, has material impact, and can be mitigated, you do something about it. Your best people leaving should be no different.
As a bonus, when you do prevent attrition risk you get the upside of increased engagement and productivity, literally like being allocated additional headcount to get more work done. Plus, it is far easier to raise expectations of staff and hold them accountable when you have a significant goodwill “deposit” from showing them you care and being thoughtful.
As you start to think about what being a great manager in 2017 looks like, I strongly encourage you to take on the satisfaction and retention of your best employees as a top priority.
Ben Brooks is the Founder & CEO of PILOT, the NYC-based tech startup focused on helping managers retain their best people. Leveraging on-demand and engaging technology, PILOT mimics working with an executive career coach by fusing process and content together into an action-oriented and insightful digital experience. PILOT’s newest invention is called “The Brand Crafter,” an interactive workshop designed to help define and expand your professional brand. Learn more at www.pilot.coach, say hello at firstname.lastname@example.org, or tweet Ben at @benbrooksny.