Let’s face it… Some of your best talent’s New Year’s Resolution might just be to leave your organization. Don’t believe me? Check out this new article on Inc.com to understand why some of your brightest stars might be planning their escape in 2012 (or may have already begun the process!)
A quote from the article:
Sometimes great employees leave because you can’t afford to pay them more and they can earn more somewhere else. Unfortunately, that happens. Often, though, great employees leave because your company has changed—and they don’t want to change with it.
Here are six of the top (non salary) reasons your best employees will leave:
Looking for an objective and knowledgeable resource to help encourage your talent to stay? Contact us to learn more about how you can encourage and engage employees which ultimately leaders to higher retention and stronger company culture.
Guest Contributor: Yolanda Santirosa
The earliest pension plan, established in 1875 was the American Express plan. Benefits under this plan were 50% of the average pay earned in the final 10 years of a participants employment and could not exceed $500 dollars annually. The second plan was established five years later by the Baltimore and Ohio Railroad in 1880. During the next 50 years roughly 400 retirement plans were established. The railroad, banking and public utility industries instituted the early employee retirement plans. During this same time frame the manufacturing industry was still relatively new and therefore they were slow to develop employee retirement plans since they were not faced with employee retirement problems. The first group annuity contract, which is a contract designed to meet retirement goals between an individual and an insurance company, was issued in 1921 by the Metropolitan Insurance Company. Also, in 1924 the Equitable Life Assurance Society of the United States became the second company to offer group annuities.
Even though pension plans came about in the 1800’s there was no significant growth in pension plans until the creation of the Wage Stabilization Act of 1942. During World War II as part of a general price control effort, the Wage Stabilization Program denied employers competing for labor the ability to offer higher wages as an incentive to attract and retain employees. Additionally, union leaders found that the wage control hindered their efforts to persuade employees to join unions and created difficulties for the union leaders to validate the advantage of belonging to a union to their membership. Under the Wage Stabilization Act the War Labor Board permitted the establishment of fringe benefits programs that included pensions thus beginning the practice of employer-sponsored health and pension plans. Finally, in 1948 the National Labor Relations Board (NLRB) ruled that employers had a legal obligation to bargain over the terms of pension plans.
Allen, E. T., Melone, J. J, Rosenbloom, J.S, & Mahoney, D. F. (2008). Retirement plans 401(k)s, IRAs, and other deferred compensation approaches. (10th.). New York, NY: McGraw-Hill/Irwin.
Taken from a GREAT article on Fast Company:
- Every element of their work will be pored over by multiple layers of bureaucracy. Even if that’s how the rest of the company operates, it can’t spill into the digital department. In a technology environment, new products and businesses spring up daily and a new endeavor can go from conception to launch in a matter of months. Reining in the momentum will be read as inaction and a clear signal the company isn’t willing to grasp the new way of the world.
- Mediocre is good enough. While clocking out at 5 p.m. is attractive to some, it will discourage digital talent. They want to be expected to do something great. They want to be pushed. They care about their work. Their leadership, and those they rely on to get things done, must match their appetite for success.
- Trial and error is condemned. The freedom to try out new ideas allows employees to take initiative, make decisions, and learn from their mistakes. It also demonstrates an attractive and inspiring entrepreneurial spirit.
- Your company is structured so it takes a lifetime to get to the top, and as such there are no digital experts in company-wide leadership positions.Digital talent–often in their 20s and 30s–need to see a clear path for uninhibited career development that’s based on merit, not years spent, and that’s beyond the confines of the digital department. If they don’t, they won’t see a reason to stay with the company in the long term.
- Your offices are cold, impersonal and downright stodgy. It may sound like it conflicts with the “you don’t need to be in Silicon Valley point,” but appreciate the nuance. A traditional office layout is designed to communicate power among certain individuals and barriers between departments. This does not support the collaborative ethos which is intrinsic to the web. Companies should do everything possible to provide the digital team friendlier, open office space. A location in a hip, young neighborhood (which surely exists in every mid- to large-sized city) is also a big plus.
What do snowflakes and people have in common?
Neither of us are alike!
So how, in a “people” profession, is it possible to effectively engage individuals on a personal level while maintaining a credible vantage point from a more macroscopic corporate level?
It’s time to put the “Human” back in Human Resources.
I highly suggest all professionals in the field do a bit of self-reflection to help determine the best way to engage the world. How can you understand the needs of others if you don’t even know how to correctly identify your own?
As individuals, we are all wired differently: emotionally, physically, academically, culturally and professionally. Having a great sense of self, identifying what truly motivates you to do a great job at something and knowing what matters most to you (personal value system) can go a long way in making sure you are an honest and true “people” professional. These are important traits to have when others rely on you to advocate for their best interests while maintaining corporate responsibility.
It’s also important to understand the “platinum rule” which says to treat people how they wish to be treated. Having a high emotional intelligence makes interacting with colleagues much less frustrating as you first seek to understand them before trying to engage in a matter that be might met with resistance.
I highly encourage all professionals to read the book “The Platinum Rule: Discover the Four Basic Business Personalities and How They Can Lead You to Success” and taking a Myers-Briggs Type Indicator personality test.
As Human Resources professionals, it’s essential that we are very strong when it comes emotional intelligence and understanding the “people” aspect of our profession. Not just for our personal sake but for the sake of those around us and the advancement of the industry as well.
– Joey V. Price, Founder of Jumpstart:HR
P.S.: I’d like to wish my brother a happy birthday! (Happy birthday, James! 🙂 )
I shared this answer on LinkedIn and it was chosen as a Best Answer. Here are the top three reasons why communication fails in an organization and how to fix it:
Communication fails for three reasons:
1) Lack of clarity in the message of the presenter.
2) Lack of comprehension or misinterpretation by the receiver.
3) Assumption by presenter that receiver has shared knowledge/background on material being communicated and therefore critical fundamental/contextual pieces are omitted.
How to fix this:
1) The presenter must state at the beginning what they intend to cover/communicate.
2) The presenter must ask the receiver to repeat back the message and mutually agree that message was understood.
3) Ensure that on-going lines of communication are established in the event that questions arise.
If you would like consultation on effective communication, contact us.
Do you have any other advice on how to communicate effectively? Got an example of bad communication? Would love to hear your insight!