founder of naked leader
Stop The Brain Drain
WE all follow the exit signs to make sure we are able to get out of certain situations – car parks for one! However, beware of a stampede heading for the exits in your company – a sure sign that something is not quite right.
While a steady turnover in a business is expected at any healthy organisation, it can be a cause for concern if there is a sudden rash of resignations. It can be both disruptive and costly.
Engaging with staff is vital to make sure the chances of this happening are reduced. Make sure you check to see why there might be such an exodus. A major change in culture or attitude might be the reason or perhaps recessionary pressure has meant managers taking on more and not being able to, or not willing to, cope with the extra workload.
A positive way to deal with the problem is to learn through exit interviews exactly what employees think of the company, as they are sure to be more candid when leaving. It is vital you understand and act on what they are saying.
To help prevent people thinking the grass is greener, think about inviting employees, perhaps middle managers, to an event where they explain how they might run the company differently. That way, problems can be sorted out while there is still time.
Make sure your organisation has a culture of transparency and openness in the workplace and allows trust and good relationships to be built up over time. It might help to introduce a buddy system so that new starters can have someone of their own level to talk to and help them settle in.
Make sure people look forward to coming into work by investing in promoting a positive environment. The benefits will be numerous. Less absence because of sickness, decreased staff turnover, higher levels of productivity and more crucially, increased profitability.
Remember that empathy and engagement with employees need not be expensive whereas neglecting them can be extremely costly.
I think that companies could do much more to engage in the real business of looking after their staff.
What else is there to do? Without the staff the customers are nothing because your staff are the key to everything in terms of customer service.
There is no point in having a catalogue of clients if they are not going to be looked after by the staff and if you cannot motivate, nurture and bond with the people in your business then there is not much hope for ongoing productivity.
Train the staff up, motivate them, give them incentives, no not just money, and make sure they are happy.
Losing them is a nightmare especially if there is a glut of people leaving.
It might be worth considering keyperson insurance too. If someone has all the knowledge and leaves, what else is there? How can the business recover from that?
I agree about the key person ins. It can be a minefield when someone leaves and takes all the knowledge with them.
Delegation is key here. It is crucial to the wellbeing of a company.