“At least 75% of the reasons for voluntary turnover can be influenced by managers”.
—Gallup’s James K. Harter
The lack of strong leadership skills contributes significantly to attrition. Employee satisfaction levels become low, performance suffers, absenteeism is high, and the inspiration and motivation to be an achiever and obtain results becomes close to non-existent.
A Gallup poll discovered that poorly managed groups were 50 percent less productive than those with strong and respected leaders, and that profits were reduced by 44 percent.
Poor Leadership Is #1 . . .
Many people think money is the key driver for job retention. Certainly money is a factor, but management skills, growth opportunity, and recognition for a job well done have been found to be more important. Have you ever heard “people quit their leaders, not their jobs”?
Attrition research by authors Bud Haney and Jim Sirbasku (40 Strategies for Winning in Business) found the following:
- 30% were unhappy with management and the way they managed
- 25% felt they got no recognition for good work
- 20% complained of limited opportunities for advancement
- 15% cited inadequate salary and benefits
- 5% were bored with the job.
- 5% cited other reasons (retirement, career change, sabbatical, and travel)
We’ve been told that employees want bosses that:
- Appreciate them as an individual and as a professional
- Want to help them grow and succeed
- Provide consistent and meaningful feedback
- Reward and recognize results
- Can be trusted
- Are authentic
- Listen
- Invest in employee development
Does your leadership team satisfy the “wants” of your staff? What areas could be improved upon?
Investing in your leadership team is an attrition counter-measure and a sound investment!