Category:Team Building Success In Business Management Leadership Family Business Executive Coaching Entrepreneur Business Management Business Coaching Business General
We are quickly headed into fall which usually creates a time of review for me. Where has the year gone? It seems to move faster every year. Yet it is that review that causes me to stop and ponder a few recent events.
Do you ever get that feeling that just about the time you get it all together, someone comes along side and sort of hits you in the head? One of my clients had just that thing happen this week. They were making great strides in their business only to have a key employee decide the grass was greener at another company. The employee said they didn’t want to leave, but they couldn’t turn down the offer. Wow, that was the preverbal baseball bat alongside the business head – which feels pretty personal.
What could have been done to change the outcome? They tried to create a counter offer. It didn’t work and often doesn’t. In many cases, there isn’t anything you can do, yet I am not one to stand by the sidelines and say, “Oh well, nothing to learn here”. Here is what you can do:
- Talk to your team members, especially those key players and find out what they love and don’t love about working with you.
- Ask key questions: What would cause you to look elsewhere? Dangerous you say – yes it is, but not asking can be more dangerous. Just ask the business owner who just lost a key player.
- Ask yourself – what would you like or dislike about working for you. i.e., put yourself in their shoes, what do you need to improve in the work environment to keep them? Make sure that mirror you hold up in front of yourself has been cleaned recently so you see a clear reflection.
- Make sure you do annual reviews, both salary and financial. Get creative bonus plans.
- Make it a habit to tell your employees, how much you appreciate them, rely on them and wouldn’t want to be without them. In other words, make sure you verbally communicate the message and when I say regularly, that isn’t once a year, or once a month.
Turnover is hard, yet your attitude is critical in how you weather the crisis. Know that there is someone else out there who can do the job just as good if not better. When you find them, determine what you can do to encourage greater job satisfaction and make it happen.