Friday, January 11, 2013
We all know employee turnover can be bad, bad for an organization’s profitability, bad for the morale, and bad for customers and clients. Dealing with the consequences of turnover is expensive, time intensive, and detracting from the business of the business.
Karl Ahlrichs, owner of ExpertSpeaks, an independent consultant on management, communication, and human resources speaker, as well as a business developer for Gregory & Appel, recently offered up a solution on where an organization should focus its turnover energies. Published in the HR Daily Advisor, Ahlrichs’ remarks appear to be overtly intuitive; to manage turnover, organizations must manage their top performers. But haven’t we have been saying just that for some time. Yes, we have, but are employers listening and practicing it? Turnover starts during the organization’s selection process. A new hire that does not fit into the organization’s value system will be more harm than just another turnover statistic. Consider the potential to do financial, physical, and relationship harm to expensive plant and equipment, co-workers, customers and clients, not to mention themselves.
At the risk of being redundant, the key to managing top performers is to hire top performers. Morton L. Mandel and John A. Bryne writing for FastCompany on December 18, 2012 outlined, ”The 5 Traits All Top Performers Share”.
We all know employee turnover can be bad, bad for an organization’s profitability, bad for the morale, and bad for customers and clients. Dealing with the consequences of turnover is expensive, time intensive, and detracting from the business of the business.
Karl Ahlrichs, owner of ExpertSpeaks, an independent consultant on management, communication, and human resources speaker, as well as a business developer for Gregory & Appel, recently offered up a solution on where an organization should focus its turnover energies. Published in the HR Daily Advisor, Ahlrichs’ remarks appear to be overtly intuitive; to manage turnover, organizations must manage their top performers. But haven’t we have been saying just that for some time. Yes, we have, but are employers listening and practicing it? Turnover starts during the organization’s selection process. A new hire that does not fit into the organization’s value system will be more harm than just another turnover statistic. Consider the potential to do financial, physical, and relationship harm to expensive plant and equipment, co-workers, customers and clients, not to mention themselves.
At the risk of being redundant, the key to managing top performers is to hire top performers. Morton L. Mandel and John A. Bryne writing for FastCompany on December 18, 2012 outlined, ”The 5 Traits All Top Performers Share”.
1. Intellectual firepower
2. Values
3. Passion
4. Work ethic
5. Experience
It is hard to argue with Mandel and Byrne’s top 5. It is also difficult to image any employer who would want employees who lack these traits. The issue is that most organization’s have a difficult time recognizing the presence of these traits. Even when organizations recognize them, employees may be slotted into positions were it is all but impossible for them to use their talents.
Eric Jackson, contributor to Forbes in "Top Ten Reasons Why Large Companies Fail To Keep Their Best Talent" addressed the issue of organizations’ inability to retain top talent:
It is hard to argue with Mandel and Byrne’s top 5. It is also difficult to image any employer who would want employees who lack these traits. The issue is that most organization’s have a difficult time recognizing the presence of these traits. Even when organizations recognize them, employees may be slotted into positions were it is all but impossible for them to use their talents.
Eric Jackson, contributor to Forbes in "Top Ten Reasons Why Large Companies Fail To Keep Their Best Talent" addressed the issue of organizations’ inability to retain top talent:
1. Big Company Bureaucracy -
… when top talent is complaining along these lines, it’s usually a sign that they didn’t feel as if they had a say in these rules.
… when top talent is complaining along these lines, it’s usually a sign that they didn’t feel as if they had a say in these rules.
2. Failing to Find a Project for the Talent -
Top talent isn’t driven by money and power, but by the opportunity to be a part of something huge … they are really passionate.
Top talent isn’t driven by money and power, but by the opportunity to be a part of something huge … they are really passionate.
3. Poor Annual Performance Reviews -
The impression this leaves with the employee is that my boss — and, therefore, the company — isn’t really interested in my long-term future here.
The impression this leaves with the employee is that my boss — and, therefore, the company — isn’t really interested in my long-term future here.
4. No Discussion around Career Development -
If your best people know that you think there’s a path for them going forward, they’ll be more likely to hang around.
If your best people know that you think there’s a path for them going forward, they’ll be more likely to hang around.
5. Shifting Whims/Strategic Priorities -
Top talent hates to be “jerked around.
Top talent hates to be “jerked around.
6. Lack of Accountability -
top talent demands accountability from others and doesn’t mind being held accountable for their projects.
top talent demands accountability from others and doesn’t mind being held accountable for their projects.
7. Top Talent likes other Top Talent -
If you want to keep your best people, make sure they’re surrounded by other great people.
If you want to keep your best people, make sure they’re surrounded by other great people.
8. The Missing Vision Thing -
What is the vision you want this talented person to fulfill?
What is the vision you want this talented person to fulfill?
9. Lack of Open-Mindedness -
If all the best people are leaving and disagreeing with the strategy, you’re left with a bunch of “yes” people … .
If all the best people are leaving and disagreeing with the strategy, you’re left with a bunch of “yes” people … .
10. Who’s the Boss? -
If a few people have recently quit at your company who report to the same boss, it’s likely not a coincidence.
If a few people have recently quit at your company who report to the same boss, it’s likely not a coincidence.
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