Retention of people.
This is just one part of your organisation but it is also one of the most important.
Losing a member of staff can cost you at least half of their salary.
That's before we get on to he cost of replacement and recruitment.
People don't to leave a job they are reasonably paid for and feel valued in, they will leave that position of they are being badly managed and they feel their concerns are not being heard or acted upon.
I think the most difficult part of management is honesty and being prepared to hear things you might not want to hear.
However if a manager is struggling and is becoming a bottleneck, does that manager need upskilling? Has their manager spotted they are struggling? How approachable do they find their line manager and are they happy to openly converse?
Communication is a two way thing and an up and down thing, it has to be able to flow.
People want to be listened to and have their points addressed. They won't always expect to get what they want but they do expect to be heard and responded to.
This is one of the key parts of retention that people are treated equally and fairly, good management comes from great leadership and it has to flow from the top down.
Managers at every level have to be on brand and message for every person in their team to be on brand and on message, then everyone feels part of the big picture.
Communication is they key to excellent retention, I spoke to an engineering manufacturing company recently whose loss rate is 1.25% out of a workforce of 150.
That is a stat to be proud of, they have worked and work hard to make sure their people feel part of the big picture. This company will become a client in the summer and I am so looking forward to our next meeting.
