A Good Name is Better Than...

As we’ve worked through some recruitment and retention strategies, we’ve really dug into the importance of creating an atmosphere the best people rarely choose to leave and we’ve looked at how that has a direct impact on getting them engaged in the recruitment process. When we do that over a long enough period of time, momentum begins to kick in! By that time, someone on the outside looking in could easily believe the entire cycle simply fell into place…

In reality though, being intentional about investing the proper time, energy, and resources into developing our existing team members and building up the new ones that come onboard, all while showing genuine appreciation for what each individual contributes, can be incredibly hard! While I could certainly argue that doing this requires significantly less cumulative effort and yields vastly better results than continuously filling a revolving door with candidates, each single action is always more difficult...

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One Way Employee Retention Impacts Recruiting...

In the last post, we made the move from focusing on the importance of employee retention to looking at recruitment and retention strategies. With that in mind, we can never really afford to take our eye off the ball with regards to creating the type of culture that keeps great people onboard and engaged! 

I’ve seen organizations be incredibly hesitant to invest time and resources into intentionally building up the individuals on their team, then increasing their compensation accordingly, and having to fill entry level positions over and over and over again. I’ve also seen organizations that adhere to extremely stringent timelines and procedures before even considering a pay raise. Many times, the companies doing either (or both) of those things also struggle to attract solid candidates for the roles they need to fill. Sometimes a company may even offer crazy sign-on bonuses to reel candidates in, but the holes in their process for career growth keep those same...

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Recruitment and Retention Strategies

As we worked through The Importance of Employee Retention, we looked at just a few of the direct costs that have such a significant impact on an organization’s bottom line when voluntary turnover is high. Now let’s start digging into some critical steps we can take to make each of our organizations a place great team members rarely want to leave AND a place that the best people in our industries WANT to come to work!

Before we get rolling though, I need to make a few statements that I really hope aren’t at all necessary: Building this kind of reputation for any organization will take ongoing effort! This will take time and commitment. It will also be somewhat difficult to achieve but far easier to ruin. When we get it right though, the juice will absolutely be worth the squeeze!

I’ve already shared what John Maxwell says accounts for as much as 65% of all voluntary turnover, people leaving their managers, and we’ve looked at why leadership development...

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Stop the Downward Spiral

As we started looking at the importance of employee retention, I referenced something I found in a Harvard Business Review article stating “Increased commitment (the actively engaged team members) can lead to a 57% improvement in discretionary effort—that is, employees’ willingness to exceed duty’s call. That greater effort produces, on average, a 20% individual performance improvement and an 87% reduction in the desire to pull up stakes.” We followed that in the next post by looking at some of the costs on the opposite end of the spectrum; primarily associated with the time it takes to get a new team member up to speed. But what other issues are we exposed to between those two distant points?

While our actively engaged employees are far less likely to leave and they’re typically quite a bit more productive, the folks who are neither actively engaged or actively disengaged, as well as those who really are actively disengaged, don’t share...

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What Does It Really Cost?

As I wrapped up the last blog, I referenced a study that showed how many organizations lose as much as 17 hours per week to miscommunication. Unlike the Salesforce.com study, I couldn’t put my find on any of the additional details that study covered or who conducted it. That said, I found it! We typically share these statistics during the second lesson of our Emerging Leader Development course, Critical Principles for Effective Communication… Here you go:

According to an SIS International Research study, the cumulative cost per year due to productivity losses resulting from communication barriers is more than $26,000 per employee. Not only that, the study found that a business with 100 employees spends an average downtime of 17 hours a week clarifying communications. Translated into dollars, that’s more than $530,000 a year.

I go on to detail out that math for companies half that size and twice that size, just so participants have a chance to relate it to the...

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