I’m Thankful for This One Career-Changing Day
This story is the genesis of my completely re-directing my career by taking one idea…how to cut turnover…and launching my second-half entrepreneurial work life.
This story is the genesis of my completely re-directing my career by taking one idea…how to cut turnover…and launching my second-half entrepreneurial work life.
Two things happened last Thursday that will juice anyone’s interest in cutting employee turnover…and both were about getting c-suite executives to support moving retention accountability out of HR to the frontline managers where it belongs.
The feedback from my SHRM22 Annual Conference concurrent session tells me participants were starving for real retention solutions, at a time when all U.S. companies were facing 11 million open jobs and 3.5% unemployment.
Jim Clifton is CEO of Gallup one of his book’s contains a most interesting subtitle that uses the phrase, “team leaders.” Jim’s use here is very purposeful, as he makes clear in the book, and from work we’ve done, I can tell you organizations that leverage team leaders cut turnover by greater than 30%.
It seems trite to say that supervisors who build trust will improve retention…more than the traditionally-considered solutions like pay, benefits, onboarding, training, time off, work from home, and everything else. It sounds too simple, too intangible, but it’s true.
The Predictive Index asked over 200 CEOs “Do you believe “The Great Resignation” is over?” Their responses were shocking and conflicted mightily with the conclusions of many respected economists.
The phrase “Quiet Quitters” was introduced by Sona Movsesian, Conan O’Brien’s assistant, who is proud of her job neglect and believes that most people are mediocre. Maybe she’s right, but we believe focusing on retention is a good way to overcome lamenting about the Quiet Quitters to focus on the opportunity to keep your best workers.
Double PTO to build a retention firewall that can’t be matched to keep your must-have 2%-ers. How much productivity time would you lose? Not much. What’s the dollar cost of losing and replacing one of your most important contributors? Start the count at half a million dollars and go up.
Human Resources work is now, more than ever, in the bullseye of turnover, engagement, retention, and recruiting challenges that are being exacerbated by The Great Resignation with no end in sight. I know you accept this challenge, but do you have a plan for improving retention that you know you can count on to work today, tomorrow, and with whatever the future holds?
The G12 is the core of Gallup’s approach to measuring employee engagement by rating 12 highly-researched items on a five-point scale. One of those 12 is “I have a best friend at work”. I confess to initially scoffing years ago regarding this one.