Episode D2.011 (NA) Retain Best Talent

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Introduction
Last year, 50% of top performers left their jobs. I was one of them. On the flip side, If all you expect from employees is that they do what they're paid to do, that's all they will do. Don't we want more? Can you imagine losing half of your best performing employees every year?

Retaining the best talent has implications beyond filling a slot on your organizational chart. How do you find new talent? What does it cost to lose talent?

One low-performing team costs your business more than $200,000 in lost revenue every year.

Show Objectives - The Why
Investing in your talent prepares your business for a strong future, increasing revenue and building a robust team.

Key Issues - Owner Perspective (late Stage II issue):

1. How much do your current employees contribute to success? 
2. Where do team members fit into the structure of the business?
3. Do we design the business to place people in their strengths, or do we structure the business based on processes and develop people to fit? 
4. How do we ensure fair compensation? And how do we maintain competitive compensation?

What You Need to Know - The What
This Fixable Problem Costs US Businesses $1 Trillion [Gallup]
The Gallup Workplace 2020 survey paints a picture of how important retaining the best talent is for your bottom line.

Employee Retention Strategies [Predictive Index]
What makes employees decide to leave? Watch this webinar to learn key retention checkpoints in the employee’s journey.

My Favorite Tool to Unlock Your Team’s Potential [New Generation Leader]

You can’t move the needle on engagement using a one size fits all approach that fails to take into consideration employees’ unique personalities, behaviors, needs, and drives. This is where a New Generation Leader focuses their efforts. Here is our favorite tool to help unlock the unique perspective each employee brings.

What You Need to Do - The How

1. Create a development pathway
2. Maintain visibility and communication with your team
3. Ensure you have a robust compensation plan

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​Learn more about the tool at NewGenerationLeader.com/performance


Shows
Previous: Episode D2.010 Quality Part of the Job
Next:Episode D2.012 Summary of Season 2 People Stage II
 

Written by Aaron Lee, People Strategy Consultant and Host of the New Generation Leader on IBGR.Network. He works with teams in big and small organizations to build people strategy with awesome tools and leveraging technology to improve team performance.

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