For HR Leaders, staff churn is businesses’ underbelly.
What does it take to get talent to stay?
For organisational development specialists, A&S team leaders and L&D team leaders, staff churn is a serious ongoing cost.
Industry sources put staff churn at between 15 and 20%. Some sectors are experiencing churn rates at significantly higher rates annually.
Millennials are moving more than regularly because they are unsatisfied with corporate cultures, recognition, pay and conditions and because some of them have an unjustified sense of entitlement to the c-suite offices before they prove their worth.
Help them grow their careers
Read Pete Jeans insights around mentoring.
Help staff grow. Educate them through professional courses, MOOC’s and in-house management and leadership sabbaticals. Expand their competencies through leadership and scenario exercises. Build their capabilities through adventure courses or new imperatives across out-of-comfort projects. Widen their experiences at the front-line in distant territories where they can mould their independency.
In my opinion, people react best when they’re brought inside the tent. Shared strategic objectives, clear direction, clarity around the roles they’ll play and a mandate to make decisions all contribute to better job satisfaction.
Add competitive pay rates and conditions and an opportunity to share the spoils and people will line up to play your game.
It is a game of dynamics though. Teams and personalities mix well sometimes and not well at other times. It’ll be up to you to make some key team decisions around size and mix and accountability lines to test the fit of leaders and followers. Teams can’t exist sustainably without both. Get it right…and the team will outperform their expectations.
My workshops share tips, tools and techniques for these emerging leaders to further develop their careers.
Do that for them; and they will stay longer.