No business is a business without people, that is at least my definition and understanding of some of the key components of what makes a business!
Most of us would say that people are a minefield and often make a business a problem magnet.
I think it is also fair to say that many business leaders would agree that recruitment can be risky, expensive and time consuming and for many it is a bug bear. We believe and hope that we have got the right person for the right role within the right time and they will add value and help our business grow and that we will able to inspire and retain them if that is so.
In the third of my Canny Bites books, I look in some detail at attracting, retaining, and growing your team to grow your business. In my books a common phrase I use is ‘chew on it,’ by which I mean give what I say some thought, am I right, would it work for you and what might you do differently.
Deloitte claim a saving of $41 million in turnover costs by retaining people who would otherwise have left had flexibility not been made available to them.
Caring about health and wellbeing is critical to enabling people to work well and keeping them. An estimated 60 per cent of people experience mental health issues due to work but less than half would feel comfortable talking about it with their manager and only 22 per cent of managers have any training on team well-being.
For most people stress is a hugely debilitating issue that saps confidence, energy, and productivity. It is also a big reason why people leave jobs.
The task of retention starts on day one. Make sure a new team member is made welcome, is introduced to how things work and to colleagues. Also make sure they have the tools they need to do the job. A new employee sitting around because they do not have the laptop or mobile phone they need is not good anyone and is one the biggest frustrations for new starters.
In the latest Canny Bites book, I suggest a 30-day, 60-day and 90-day plan for staff with regular meetings and feedback to assess progress.
Poor communications is one of the biggest causes of workplace stress and tensions. It is not only about what we communicate but how we go about it.
We communicate not just in what we say and write but how we behave which is why ‘walking the talk’ is so important. ‘Do as I say, not as I do’ is a recipe for disaster.
Honesty and integrity play a big part in keeping people on board. A disconnect between word and deed is fertile ground for cynicism that most corrosive of attitudes.
Perhaps above all people want to feel appreciated, valued and know where they fit within the big picture.
On a final note quoting the motivational speaker Marcus Buckingham; ‘People leave managers, not companies. Of course, people leave jobs for many different reasons but verily it is due to lack of engagement, empowerment, or progression.