“I was totally surprised when one of our top people quit. I thought he was satisfied with his job. I don’t want to get sandbagged again. What are some early warning signs of someone leaving?”
As a career and executive coach for LinkedIn’s Profinder, a marketplace to connect people who need professional services with freelancers who can provide that service, I’ve noticed in the past six months an increase in requests from people who are looking for greener pastures.
Many of them were not fully satisfied but stayed with their company because of a perceived lack of opportunity out there. Now they see companies are hiring, and they are willing to test the waters. Here are some of the reasons they wrote for seeking career coaching help:
“I want to figure out how I can progress in my career and move to the next step in my company or at another. I’m ready for a change.”
“I basically want to reinvent myself. I am bored in my current role and there is a lack of opportunities with my current company. I need help to better position myself in the marketplace.”
“I am a Director with a very large Telecom company. I am looking for a comparable leadership position with a company that has more advancement opportunities.”
In addition to a lack of career growth opportunities, there are other situations that can trigger job dissatisfaction and provoke a valued and talented worker to start looking at what’s out there…such as a:
- Major project ends and there is nothing “in the wings”.
Mentor/friend/or manager left recently and therefore could try to recruit this employee.
- New manager is assigned who may /may not be as great as the employee’s last one.
Major reorganization occurs and the employee doesn’t know his/ her place or value.
Recent stock crash or options went underwater and therefore there is less financial commitment to stay.
- Position of increased visibility (holding office in a professional association) that gets the person known outside the company.
Changing life events such as receiving an advanced degree or turning a key birthday (30-40-50) or family divorce or death etc.
What You Must Do:
Go into action to prevent key people “jumping ship”. Here are five actions to take now that goes beyond saying you want to retain your top talent to actually does something:
Identify high performers/ stars/special groups who might be vulnerable.
Find out their satisfaction level through surveys or focus groups or one-on-ones.
Use this knowledge to improve the potential “looker’s” job assignment and career opportunities.
Recognize that as many as 85% of the reasons why a valued employee leaves are controlled by his/her direct manager.
Therefore, focus your retention efforts on supporting your supervisors and managers’ ability to engage, motivate, and develop their people.
Smart Moves Tip
Don’t wait until employees leave to find out why. Instead of exit interviews do stay interviews. The best way to find out what motivates your employees and how to retain them is to not ask them: “How’s it going?” Rather ask these more specific questions: “Why did you join the organization? Which aspects of your work do you enjoy the most? Which do you least enjoy? Are you receiving sufficient opportunities for growth and development? What would influence you to leave?
The stay interview is an opportunity for managers to build trust and to assess the degree of their employee’s personal satisfaction and engagement. If you can find problems early, you can then find ways to solve them. That will give you a better chance of retaining your critical talent. Also see: Is Retaining Your Best Talent a Priority: It Should Be! Employee Turnover: Is It Eating Your Profits? How to Prevent the Brain Drain of Key Talent
Would you want to know more about stay interviews? As well as obtain the “10 Stay Interview Questions to Ask Your Employees”? Let me know. Let’s talk!
What’s Your Specific Challenge?
Simply EMAIL your questions to me (or enter them as in the Comment Section below) and I will provide answers that will build your leadership and management SMARTS
My motto is: “If you do what you always did, you will get what you always got. Therefore, MOVE outside of your comfort zone; that’s where the MAGIC happens. To bring that magic to your leadership Subscribe to “Coaching Clinic” Marcia’s monthly Execubrief with additional insights, intelligence, and inspiration on leadership and career topics.