QUESTION: The How To of Employee Retention
I am constantly asked about
employee retention and recruiting the “best” people, thus, the subject for this
week’s newsletter.I certainly hope you enjoy this, find it interesting &
educational and share this newsletter with your management staff by clicking on
the “SHARE WITH FRIENDS” button above.
RESPONSE:
THERE IS AN IMPENDING CRISIS IN THE VERY NEAR FUTURE.TOO MANY JOBS,
TOO FEW PEOPLE!
Projections from the Bureau of Labor Statistics forecasted a huge shortage of over 10,300,000 workers
now and in the years to come! And this shortage is simply raw numbers; it
doesn’t fully address the growing skills gap. The numbers also don’t take into
account the changing attitudes in the workforce.
Because so few corporate leaders are fully cognizant of their
predicament, executives who DO
prepare for the new operating environment will lead their organizations to a
bright future in 2012; those who ignore the threat, risk dangerous
vulnerability. With these thoughts in mind, I have six suggestions for owners
and managers with regards to employee retention and staffing.
Suggestion # One: IF YOU PAY PEANUTS, YOU GET SQUIRRELS!
The old expression that “you get what you pay for” is never
truer when it comes to employees. To get above average talent, service and
productivity, you must consider pay grades that are above the average for
competitors in your marketplace. It is ludicrous to think you can get a world-class
staff by paying below average wages.
Suggestion # Two: PEOPLE JOIN A COMPANY BUT THEY QUIT A BOSS!
When I ask members of a management team why they have heavy
turnover, the answers are usually the same: no recognition, no promotional
opportunities, no training, work not appreciated, lousy benefits, too much
stress, overwork and of course the most popular, a better opportunity for more
money. What amazes me is all of these excuses are fixable by management, but
they go into a non-response mode with a complacent, “oh well.”
But in reality the number one reason IS LOUSY MANAGEMENT OR
SUPERVISION! If the basic supervisor-employee relationship is not good,
employees leave with dispatch.And what is really sad is that this problem IS
fixable.
Suggestion # Three: LOUSY COMPANIES CONDONE LOUSY MANGERS AND GREAT
COMPANIES FIX LOUSY MANAGERS!
Executives and owners often confide in me, “George, it isn’t
easy”.Just because so and so is a lousy manager, he/she means no harm. OR
He/she has been with me for so many years and is a good person.OR my all time
favorite, he/she is my wife’s brother/sister.
Loyalty is one thing but if you have a supervisor or manager
that continually drives away good talented people, you have ONLY two choices: Fix him/her by getting them into a training and/or
self development program or GET THAT PERSON OUT OF MANAGEMENT!
Suggestion # Four: SOME PEOPLE JUST SHOULD NOT BE WORKING FOR THIS
COMPANY! Have you ever thought
of someone in your organization that you would gladly fill out an employment
application for them for ANOTHER company and then offer to
drive them to the interview? Whenever I am asked, “what is the fastest way to
turn around low morale” my first and immediate response is to get rid of the
“turkeys” in the organization.Your company should be staffed with EAGLES not turkeys.
Suggestion # Five: RETENTION
IS A LEADERSHIP PROBLEM, NOT A HUMAN RESOURCE PROBLEM!
Leadership, whether strong or weak, ultimately determines the
overall retention rate of your company. Retaining GREAT employees is far too
important to completely delegate to mid-level managers or human resource
managers. Retention must be front and center within every strategic initiative,
expansion plan or turnaround situation that you face. Remember, leaders are not
necessarily good managers and managers are not necessarily good leaders.It
doesn’t have to be that way, but most times it is.
Suggestion # Six: HIRE A GREAT OUTSIDE GROWTH CONSULTANT TO HELP
YOU!
If you do not have internal staff with a learning and training
curriculum, spend the money and hire an outside, highly qualified (one who has
been there and done that) consultant to help you design a plan, train all
trainable employees and get over your high employee turnover. It will be the
best money you ever spent. Third party influence many times works much better
than hearing from a peer or upper management person.
Employees WANT to learn, they WANT to grow and will reward you
when given the opportunity to do. Lack of retention cost corporations millions
of dollars on a DAILY BASIS!You don’t have to fall into that category.
Remember,
IT IS VERY DIFFICULT TO
SOAR WITH THE EAGLES WHEN YOU ARE SURROUNDED BY SO MANY TURKEYS!
As always, please accept my wishes for a
tremendous week. If I can be of assistance to you or your organization when it
comes to revenue growth, retention or recruiting, please call or write and I
will respond immediately!
Regards,
George F. Mancuso, CPC
President
Client Growth Consultants
