Leading Employee Retention
A Measure of Leadership Success!
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Volume III - June, 2005 Issue
Leading Employee Retention
Stabilize Your Workforce!
T A B L E O F C
O N T E N T S
- Leading Employee Retention!
- Meeting for Results
- Employee Exit Survey – New Free Tool!
- The Juice Bar
- Three Necessary Things for Success!
- Reader Meter
- Site News
- Updates - and What's Coming Soon!
Lessons In Leadership
Leading Employee Retention
A Measure of Leadership Success!
"The secret to productive goal setting is in establishing clearly defined goals, writing them down and then focusing on them several times a day with words, pictures and emotions as if we’ve already achieved them."
- Dennis Waitely
Retaining your best employees is a critical task for every astute employer. The cost of losing just one high-value employee can literal cost tens of thousands of dollars when you consider what it will take to identify, attract and train a replacement.
In addition to the above costs you must also consider the cost of lost business and opportunity costs incurred during the time of transition.
As the leader, your ability to avoid unnecessary employee attrition is of great importance to the success of your team and your business.
Leaders paying close attention understand that productivity and profitability is directly tied to employee retention.
Studies from the Gallup organization show that employees who have an above-average attitude toward their work will generate approximately 35 percent higher customer satisfaction scores, 20 percent higher productivity, and approximately 25 percent higher profitability for their organization.
Leaders focused on maintaining a stable workforce and maximizing employee retention should consider these critical Five Retention Best Practices:
Now that you have our top five retention list, we also suggest you utilize our Free 10 Key Questions Tool. This free leadership tool provides a means of gauging the overall health of your current work environment.
- Choose the right people in the first place. Utilize behavior-based testing to ensure that your newly hired employees are a good fit for your organization. By all means take as long as necessary to ensure you have the best possible new hire. Acting too quickly can become a huge liability down the road.
- Offer an attractive, competitive, benefits package. Always be willing to compete on the people side of the equation. Competitive pay is not necessarily the most important factor to your employees, but it is definitely an important consideration that every employee must consider.
- Maintain a healthy, energetic and positive work environment. Emphasize your desire that every team member maintain a healthy balance between home and work responsibilities. This means the world to your team and they will not only appreciate your support, they will respect you as a leader and as a result they will want to work hard to earn your respect.
- Provide opportunities for your people to regularly provide input. Offer a variety of training opportunities. Invest time in one-on-one discussions to discuss career advancement opportunities. Investing time in your employees will pay off in more highly engaged and dedicated employees. Work for your employees and they will in turn work for you.
- Recognize and celebrate success with your team. Track progress to goal weekly, if not daily, in order to ensure focus on final results. Positive reinforcement of a job well done is key to employee job satisfaction.
Odds are that if you score well as a leader on this questionnaire, your ability to retain quality employees will also be promising.
People – will always be a leader’s most valued asset. One good employee can make the difference between success and failure. You are well advised to spend the time and money necessary to ensure retention of your most talented employees.
"The indispensable first step to getting the things you want out of life is this: decide what you want."
- Ben Stein
Meeting for Results
Employee Exit Survey - Free Tool!
"The first step to becoming is to will it."
- Mother Teresa
Retain your best employees and never lose them to your competition. As we mentioned in our last issue, effective leaders plan for the worst and prepare for the best.
A great deal of valuable information can be gained simply by asking departing employees to evaluate their work experience while employed under your leadership.
It’s important for employers to remember that the old adage, “take care of your customers or your competition will”, also applies to your highly prized employees!
Our latest free leadership tool is an Employee Exit Survey Tool that you can customize to your organization and begin using immediately.
Be prepared to hear feedback that may not necessarily be complimentary to your business or your own leadership style. Maintain an open mind. Consider each piece of information objectively, with a purpose of learning and growing.
Discard feedback that you honestly feel is in error or unfair. However, act quickly and decisively on input that provides opportunity for workplace improvement.
Your team will thank you for your willingness to reflect and lead positive change. Each team member will take note of your follow up actions and will certainly think twice before deciding to jump ship for another “uncertain” job opportunity.
Learn more on this subject and request your free tool on the link below. Enjoy!
FREE EMPLOYEE EXIT SURVEY TOOL
"The successful person has the habit of doing the things failures don’t like to do. They don’t like doing them either necessarily. But their disliking is subordinated to the strength of their purpose."
- E.M. Gray
The Juice Bar
Three Necessary Things for Success!
"This one step, choosing a goal and sticking to it, changes everything."
- Scott Reed
In order to achieve success, “Three things are necessary,” said Charles Sumner, “first, backbone; second, backbone; third, backbone.”
A good chance alone guarantees nothing. Education alone is worthless without a strong and vigorous resolution. Stamina to press forward to accomplish something in the world is a proven trait that was present in successful men and women throughout our history.
A man or woman who decides on a goal, then allows himself to wobble back and forth; who has no clear opinion of his own, nor courage to stand up to his detractors, will fail.
It is grit, perseverance, moral stamina and courage that govern the world.
Poem entitled, “Success Against Odds”
Yes, to this thought I hold with firm persistence;
The last result of wisdom stamps it true:
He only earns his freedom and existence
Who daily conquers them anew.
“It is interesting to notice how some minds seem almost to create themselves,” says Irving, “springing up under every disadvantage, and working their solitary but irresistible way through a thousand obstacles.”
Opposing circumstances create strength in a prospective leader.
Opposition gives us a means for developing a greater power of resistance. To overcome one barrier gives us a greater ability to overcome the next.
Success is not measured by what a man or woman accomplishes, but by the opposition he or she has encountered, and the courage with which she has maintained her struggle against the overwhelming odds.
Marden said, “Not the distance we run, but the obstacles we overcome and the disadvantages under which we rise, will decide our prize in life.”
"He who has a why to live for can bear almost any how."
- Friedrich Nietzsche
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