Tin tức
Why businesses lose their best employees?
2023-01-12
It can be tempting to keep your top performers doing exactly what they’re doing for as long as possible. After all, you know that that’s what they’re good at. Unfortunately, keeping these employees stagnant is a recipe for losing the very people you’re most interested in retaining.
To make sure their star employees feel engaged, the author argues that managers must provide constant opportunities for growth and professional development. While this can be challenging, the best bosses are those that figure out how to keep their employees constantly learning — finding them new assignments, new challenges, even new roles elsewhere in the company —in order to keep them engaged.
Table Of Contents
That’s a great way to lose them forever
That’s a great way to lose them forever
As their boss, you don’t want anything to change. After all, she’s super-productive, their work is flawless, and they always deliver on time. You want to keep them right where they are. That’s a great way to lose them forever. After eight years as an award-winning stock analyst at Merrill Lynch, one employee needed a new challenge.
“I’ve always liked mentoring and coaching people, so I approached a senior executive about moving to a management track. Rather than offering his support, he dismissed and discouraged me. His attitude was, We like you right where you are. I left within the year” he said.
This kind of scenario plays out in companies every day
This kind of scenario plays out in companies every day
And the cost is enormous in terms of both time and money. But if I had stayed and disengaged, the cost may have been even higher. When people can no longer grow in their jobs, they mail it in — leading to huge gaps in productivity.
According to Gallup, a lack of employee engagement “implies a stunning amount of wasted potential, given that business units in the top quartile of Gallup’s global employee engagement database are 17% more productive and 21% more profitable than those in the bottom quartile.”
And yet engagement is only symptomatic. When your employees (and maybe even you, as their manager) aren’t allowed to grow, they begin to feel that they don’t matter.
They feel like a cog in a wheel, easily swapped out
If you aren’t invested in them, they won’t be invested in you, and even if they don’t walk out the door, they will mentally check out. How do you overcome this conundrum? It starts with recognizing that every person in your company, including you, is on a learning curve.
That learning curve means that every role has a shelf life. You start a new position at the low end of the learning curve, with challenges to overcome in the early days. Moving up the steep slope of growth, you acquire competence and confidence, continuing into a place of high contribution and eventually mastery at the top of the curve. But what comes next as the potential for growth peters out? The learning curve flattens, a plateau is reached; a precipice of disengagement and declining performance is on the near horizon.
I’d estimate that four years is about the maximum learning curve for most people in most positions; if, after that, you’re still doing the exact same thing, you’re probably starting to feel a little flat.
I became a little bored with each job and started
I became a little bored with each job and started
Take, for example, the experience of the character in the following story: He moved to New York City with a college degree in music. He is a pianist who especially loves jazz music. But quickly became overwhelmed by Wall Street, in the late 1980s, and dreamed of working there. So he got a job as a secretary in a financial firm and started going to investment school in the evenings.
A few years later, his boss helped him make the leap from support worker to investment banker. After a few years, he switched to a stock analyst again, and I extended that curve to achieve an Institutional Investor rating for several years in a row. When he first started, he was excited to be a secretary on Wall Street. He was also excited to become an investment banker and later a securities analyst. Although he started in each of these positions at the bottom of their respective learning curves, he developed and became proficient in all of them. But at the end of the process, he got a bit bored after mastering each task and started looking for the next new challenge.
We experience higher levels of brain activity
We experience higher levels of brain activity
The human brain is designed to learn, not just during our childhood school years but throughout our life spans. When we are learning, we experience higher levels of brain activity and many feel-good brain chemicals are produced. Managers would do well to remember that. Because every organization is a collection of people on different learning curves. You build an A team by optimizing these individual curves with a mix of people: 15% of them at the lowend of the curve, just starting to learn new skills; 70% in the sweet spot of engagement; and 15% at the high end of mastery.
As you manage employees all along the learning curve, requiring them to jump to a new curve when they reach the top, you will have a company full of people who are engaged.
You and every person on your team is a learning machine. You want the challenge of not knowing how to do something, learning how to do it, mastering it, and then learning something new. Instead of letting the engines of your employees sit idle, crank them: Learn, leap, and repeat.
Back to News page
Keywords
- #HR
- #human resource management
- #business
- #human resource management
- #[:vi]nhân viên[:en]employees[:]
- #[:vi]giải pháp quản trị nhân sự[:en]human resource solution[:]
Related news
-
Essential productivity tips for modern workers
Working efficiently and productively is always an important requirement for every worker. Modern workers are faced with more productivity challenges than ever before. Let terra solve this problem by exploring the following productivity tips for the modern worker. [caption id="attachment_1691" align="alignnone" width="1000"] To increase productivity for modern workers, it is necessary to have a trendy...
-
“Workaholic” syndrome in young people: take a break while you still can!
In a culture that encourages advancement, workers often spend all their time, including self-care, in order to ensure a steady income. This phenomenon is especially evident in young people. Many young people today prefer to be called 'workaholics' because the feeling of being busy makes them feel like they are creating value for themselves and the society. But it's time for young workers to heed the physical...
-
What Companies Need To Know About Hiring Gen Z
Generation Z (or Gen Z) currently accounts for 30% of the world's population and is expected to make up 27% of the workforce by 2025. This will inevitably make a huge impact on the current labor market. As employers, businesses need a certain understanding of Gen Z to know how to attract and retain the next generation of talent. [caption id="attachment_1402" align="alignnone" width="1343"] What...
-
How HR innovate in the context of economic recession, mass layoffs
The fact that many businesses in the world and Vietnam have laid off a series of employees recently has raised concerns for workers, especially the human resources (HR) department. They must find a way to balance the goals of business survival, employee morale, and well-being when business performance goes down. Faced with such a situation, in order to manage their work well by implementing the above...
-
Removing “bad reputation” as being demanding, job hoppers for Gen Z
In contemporary society, when the boundaries between technology and other fields are increasingly blurred, young people have become an indispensable human resource for businesses. It is predicted that by 2025, 1 in 4 working people will be represented by Gen Z. With characteristics such as "flexible", "independent thinking", "creative", Gen Z is gradually showing its important role in the labor market....
-
Tips for dealing offers with candidates
Making requests, suggestions, and agreements (Deal offers) with candidates is considered the last important step in the recruitment process of any company or business. Because it not only affects the interests of the candidate during the working time but also related to the quality of the company's personnel. As an employer, if you are an HR or business looking to prepare well for a deal offer, please...
-
HR Perspective: The criteria of a bright employee
There are many different standards set for a “perfect” employee that makes many people wonder such as: being fluent in at least one foreign language, having a working history of at least 3 years, and being proficient in using computers... If you are a candidate who is confused about how to “evaluate” yourself, or a manager does not know how to evaluate employees, the set of 6 criteria of a bright...
-
The “secret” to assisting your company in attracting and retaining young employees
Millennials and Gen Z employees are practically all businesses’ primary human resources in the 4.0 age. Therefore, what has to be done to attract and retain these young professionals, keep them engaged, and contribute to the success of organizations and businesses? The below article will reveal the keys to making your company a "magnet" for attracting personnel. [caption id="attachment_1017" align="alignnone"...
-
8 tips to help businesses manage employees effectively and maximize their capacity
One of the important and essential tasks of businesses and companies today is human resource management. A successful business is the one that understands how to use and maximize the ability of each individual person, resulting in a solid strength for the business. Therefore, how can businesses utilize their resources, encourage employees to stay for a long time, and ensure that they are constantly...
-
10 tips to boost working motivation after Tet holiday
Every Tet season passes, when returning to the work stream in the new year, people often begin to feel sluggish and depressed. Therefore, in order to quickly get back to working style after a long vacation, employees should be prepared to ensure that they can keep up with the intensity of work. Let terra guide 10 tips to help you quickly regain your health and spirit to return to work in the new year! Change...
