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People are the powerhouse behind everything, they are an intrinsic part of your business, and your everyday life. If you can't engage and work with them in a mutually beneficial style then everything suffers.
I passionately believe in not only ensuring your people are engaged, but in putting people at the centre of the work equation. Whilst the business, or product, or service, is still vitally important, it is the people that will ultimately make or break your company's success.
Many Business owners forget this, and get too heavily involved in metrics, ignoring the empathetic leadership that is needed to build a successful company culture. Culture is king especially now that the new generation of workers want to feel connected, valued and able to make a difference in their organisations…...or they move quickly.
In today’s show I will take you through the steps for giving you many different ways in which you can structure your business to make sure it not only retains the Best Talent, but also makes your business one that people want to join.
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Show Objectives - The Why
Today’s show is building on our previous shows this week as we explore your employee’s perceptions and needs to get a pulse on what could be going on in their lives as they navigate new working conditions and the challenges, struggles and opportunities of their roles; and how as a business you can not only manage that, but capitalise on it. Retaining Good Talent is crucial to any businesses ability to innovate, grow and succeed.Your great people are regularly recognised by others, as we live in a connected world that is digitally at our fingertips. Hence, now more so than at any time in the past, we risk losing people if we dont structure our business to keep them. So it's time to look closely at what you really offer your people, adn not to expect them to stay just because you pay them.
Key Issues - Owner Perspective:
What You Need to Know -
It is always a loss to see good talent leave an organisation unnecessarily, so what are the key issues that cause good staff, or in reality a lot of staff to leave, and quite often the bad, or underperforming ones to stay? They mostly revolve around culture. Getting your culture right is one of the single most important things a business needs to do to set them up for long term success, and retaining good staff. Staff need to feel valued and your culture should embrace and promote that..
Key warning signs that your culture has degraded or become toxic and you will lose the Best Talent
What You Need to Do - The How- Segment 3
Winning the War for Talent- Key steps
Culture and Leadership are critical for success.
Sibhan’s book gives a great Culture change diagram that is relevant for every business and helps keep you on track. The steps work and guide you to success.
Linked closely to Culture is Leadership, the two are symbiotic. You need exceptional leaders in order to have a continuously great culture.
The strongest piece of advice I can give, that I have seen work time and time again, is to get the right Leadership team in place who embraces developing a sustainable culture that focuses on people and the business. This works well, but it does take commitment.
Great leaders matter more than you might think. McKinsey research shows that positive relationships with management are the top factor in employees’ job satisfaction—and, by extension, correlate with stronger corporate performance. Unfortunately though great leaders are also hard to find. Sadly in a recent survey 75 percent of Americans see their boss as the most stressful aspect of their job…..it simply should not be this way, not does it have to be this way. Further during the COVID-19 pandemic, both bosses and employees have been under more pressure than ever…..people under pressure revert to type,a dn that often means command and control management and not authentic leadership. This further causes problems for any business.
Focus on ensuring your leadership or your leadership teams abilities are up to date and able to show value and empathy to your people if you really want them to stay.
The key needs that staff are now looking for to stay in a role, are fairly consistent across industries. What surprises most people is the consistent No1 need is not money, instead it is having a good manager and feeling valued. So we are back to leadership and culture.
So focus on finding out what a good manager looks like to your staff, and train your leaders that way.
The research shows that having a good leader, means they are leading based on empathic leadership, so staff are looking for a boss who can;
Understand that they are more than just a worker.
This means someone who can be approached when things go wrong either personally or professionally, without prejudice.
Key points for you to focus on in your business are
All work together to promote and maintain a positive organisational Culture, one that attracts and retains great people!
On top of this employees need a clear career path, and succession plan, they need to see it is achievable and understand how they can go about getting to where they want to be in the business.
So what do employees want out of having a career path available and accessible that is supported by their manager?
What about those that are 100% happy where they are? You lateral achievers- who are also often your quiet superstar achievers. These are the core of your people, and should be thought of that way!
They still want to feel valued- but they don’t want to change roles, and that is good as it gives you a stable staff.
They still want to feel like they are achieving something
They still want their voices heard.
They still want to be recognised
Don’t forget some will be planning of retirement (flexible work packages, and mentoring)
Make sure your career paths, training and development also cater to these ‘lateral’ employees, as this is a key to your success.
So whilst that takes time to achieve, there are so many steps you can implement on the way that will start to help from Day 1. Retaining your people is a key part of your culture and vision as a business, as we move through this season of Engaging your People for success, you will see how many of these key components overlap and support many crucial business areas, as well as support each other. This is what will allow you to develop the strongest people engagement tool kit that will guide your business to the highest levels of success.
Previous: Episode 3 Enable your Strategy to Support Your Culture, not work against it!
Next: Episode 5 Nurture your People and remove bias in Promotions
Written by Lisa Askwith
Director of ApexBRS | ApexBRS, Regional Director of See Global Media, Chair of EGN Singapore, and Associate Professor Cambridge Corporate University | At the Age of Change, providing the HR component of the Global Executive MBA and BBA. Lisa has worked for some of the largest companies in the world and successfully led restructures and change management programs in order to improve the bottom line through engaging the people for success, while developing exceptional leaders who can make a positive impact on Culture and long term business sustainability.
You can connect with Lisa on any of her platforms
LinkedIn Lisa Askwith - Director - Apex BRS
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