In the 24 hour recruiting and sourcing talent cycle, companies are overloaded with information and surrounded by dozens of options to find and assess potential talent. Despite the intelligence and diversity of options available, employers are dealing with issues that have come upon them both gradually and suddenly. In a recruiting focused world, how can employers stem turnover and focus on the talent they have already hired? Why do our employees leave and how do we get them to stay? The real answer to both of these questions is mentoring and people development.
Commitments and Expectations Are Changing
We live in a work environment where loyalty on both sides of the employment aisle are at an all-time low. Talent is no longer dedicated to one employer for the entirety of their career. The average stay on the job for an employee in the US is a mere 4.4 years, with the millennial generation staying for less than half of the average. Millennials are more inclined to job hop every 2 years, this presents unique challenges for employers. These challenges also come with increased turnover, the costs associated with it, not to mention loss of institutional knowledge and brand impact. Employers want to know: “Is this preventable?” and “How do I get them to stay?”
Why Do Our Employees Leave?
- Bad Managers – People leave jobs because of bosses and work cultures not because of the job content and duties.
- Low Investment in People – Employers are quick to discard low performing employees or trigger layoffs to increase corporate profits. For many employees, they feel less like valuable assets and more like numbers to be manipulated.
- Low Engagement – Employees, who feel underutilized or unappreciated, simply leave and find employment elsewhere. Employees that leave due to low engagement are often (or were) high performers.
This is a far cry from the days of getting a job and holding it for 40 years with employer and employee secure in their partnership. Both sides have been forced to adapt to the current climate, however, it has been employers who have been slow to keep up.
How Do We Get Them to Stay?
- Teach Leaders to Lead – True mentoring and people development flows organically from the supervisor/manager throughout the course of his/her normal scope of work.
- Be Authentic – Company leaders should be more authentically human with their teams. Have conversations with employees that are free from corporate jargon, slogans, and metaphors. People have always and will always react more positively to those who are perceived as genuine.
- Engage – Get to know your employees individually, recognize their areas of strength and weakness, delegate work to them that lends to their strengths while still challenging them to grow. Show them that you care about both their personal and professional development.
- Repeat – Companies and leaders who take on an empowering leadership style will gain the upper hand with competition and talent retention.
The more you show an employee that they are valued and that there is a path that they can use that value to stay long-term with your company, the better positioned your organization will be. Oh and by the way…it is much more difficult for an employee to quit a job that they are invested in personally as well as professionally.