Leaders are key players in turnover trends
Naturally, every organisation sees employees come and go over time. Turnover rates vary between organisations, as do the reasons for leaving. One thing is for certain, leaders have a role to play when it comes to their own organisation’s turnover trends.
People leave managers, not jobs.
There’s an old adage that says employees leave their managers, not their jobs. In a 2015 Gallup poll, researchers found that 50% of Americans had left a job to get away from their manager at some point. There are countless other studies out there that dive into this issue, making it clear that the old adage rings true, however hard it is to swallow.
In another study, Gallup found that engaged employees were 59% less likely to seek out a new job or career in the next 12 months, while yet more research by Randstand found that 58% of workers said their companies didn’t currently have enough growth opportunities for them to stay.
Ultimately, leaders are extremely influential people within an organisation. Issues that aren’t necessarily personal can have a huge impact on employee turnover and leaders have the power to change them.
What can leaders do to change the tides?
Coaching, mentoring and professional development programs are a great way to increase engagement, show employees that you are invested in them and help your team members to grow in their skills and confidence.
Retaining team members for longer hinges on providing them with:
- Effective communication
- Appropriate recognition
- Growth opportunities
- Engaging experiences
Turnover isn’t always a bad thing
While it’s true that high turnover rates are a cause for concern, turnover isn’t inherently negative! In fact, if you’re providing your team with all of the above – particularly recognition and opportunities for growth – you’re setting them up for success … success that will sometimes mean they say goodbye, searching for the next step elsewhere.
Of course, it’s always sad to say goodbye to a team member but it also opens up opportunities to bring in new team members, with fresh ideas. If you have no turnover, you can end up with stagnant teams.
The goal is to nurture teams to grow and, eventually, leave – the goal isn’t to push them out with bad management and a tendency to undervalue them.
Are you ready to make a difference in your organisation’s turnover rate? People Make the Difference can help. To find out more, visit www.pmtd.com.au or call us on 0412 333 415. Try our online leadership training videos – $99 for complete access. Great value if you’re committed to growing your leadership potential.