A recent Forbes article by Erika Andersen explains that the top reasons people leave all boil down to one reason: Top talent leave an organization when they’re badly managed and the organization is confusing and uninspiring.
A popular article published last year explains the top 10 reasons people leave their big-company jobs. Poor people management is half the problem: Not being part of an exciting project, a bad performance review, problems with their boss, unclear career path, and lack of recognition. Organizational failings are the other half of the problem: poor leadership, gridlock, unclear vision, uninspired coworkers, and shifting priorities.
Andersen says there are two keys to retaining top talent: first, make management a priority and promote those who manage well. Second, have clear priorities and an inspired vision that sets your company apart.
To really bring out the best in your people, everyone should understand how their personal role connects with the goals of the organization. Each person needs to see what is expected of them and have a personal development plan to get there. Individual goals should be tied to departmental goals which connect to the companies high-level aspirations.
Most importantly, these plans need to be transparent where leaders and employees informally and frequently talk about goals, priorities and progress. The best companies recognize accomplishments and shine light on top performers.
How can your business do better at retaining your talented employees?