As the great layoff continues, one in five Staff members say they plan to change jobs next year. Experts have listed a few reasons why so many people are making the switch since the start of the pandemic, with poor management or leadership being one of those reasons.
If your company has a high turnover and you discover that poor leadership is to blame, there are steps you can take to mitigate the situation. Below nine members of Council for Young Entrepreneurs explain the steps you can take to solve a bad leadership problem and the impact this change will have on your business.
1. Spend more time with employees
Companies don’t have enough regular one-on-one conversations with employees. I cannot emphasize enough that managers do not spend enough time every other week with their employees to talk about 1. what is going well, 2. what is not going well and 3. what the company can do to fix the “what is not going well” part. Lack of accountability, transparency and the coaching that every employee should receive from their manager is probably the biggest reason for the high turnover. To mitigate this, I recommend that the leadership keep everyone on their toes so they talk about what’s working at the company, departmental, and personal levels. This gives a very good insight into why someone quits their job. † Jay Dahal† machine
2. Improve your time management skills
Most of the time, “poor leadership” comes down to poor time management. Situations that grip us (change management, performance issues, reorganisations, inconsistent communication) are situations where we know exactly what to do. In most cases (assuming good actors do their best), these are failures to prioritize and execute. Consistent communication isn’t rocket science – it’s just that we often don’t take the time to think about it because we focus too much on business metrics, KPIs, and timelines. Effective change management is well understood, but it takes time and effort, and we get distracted far too easily. The best way I know of solving these things is to set an example. Do this well yourself, then demand the same from your team. Leadership is contagious. † Alex Furman† invitation
3. Reconsider those currently in leadership positions
The turnover of employees, and especially the turnover of talented employees, is a huge loss. As such, I wouldn’t hesitate to fire a manager who fails. Leadership training and discussions about company culture are important, but they do not outweigh attitude and passion. † Sheila Nazarian† Nazarian Plastic Surgery
4. Customize management styles
When we see high turnover in our company due to faulty management or leadership, we need to answer who and what is causing this phenomenon. With every trend of high employee turnover, there is a reason that always lies within the organization. Unfortunately, many begin to look outward for reasons, believing that they have chosen the right management team. However, if you notice this phenomenon, answer the questions: Who is the cause? Whose act or omission leads to this? Once you find a problem, try to solve it by adjusting your manager’s management style. If this is not possible, you should immediately fire such a manager or leader and then select a manager who fits the goals and vision of the organization who can create the right culture. † Aidar Vafin† ARFEN Inc.
5. Get feedback from your team
Individual opinions in this situation can be harmful and even offensive to people. What I would do over time is restructure the managers of teams and see what the general public consensus is. If someone says “X is not a good manager”, that could be an opinion; if five people say the same thing, it’s not an opinion, it’s a trend. Doing so will give you unbiased feedback from a wider audience, which to some extent helps decide whether the manager or leaders are worth retaining. In addition, once this is done, I would also open a communication channel that everyone can contribute with their thoughts. This can be an anonymous form where disagreements can be shared candidly. Thoughtful decisions or steps are never bad, and anonymity will help allay the fear of judgment. † Candice Georgiadis† digital day
6. Think about how you treat your employees
As leaders, we must be honest with ourselves. We often think about what the employees owe the company, but we need to consider what the company owes the people who spend most of their lives building the company. Most of what causes high turnover isn’t the work itself; it’s typical how people are treated. Do you treat people right? Do you treat them as you would accept to be treated? You are now losing institutional knowledge and spinning your wheels with a team of beginners as your competition grows. Is that worth the constant competition and ego trips? Leaders have a responsibility to be the adults in the room. Take the quiet time to think and see if you’re filling that role. † Tyler Bray† TK Trailer Parts
7. Consider Third-Party Leadership Training
Poor management is a critical problem that must be eradicated immediately. Look to third-party management and leadership training programs to help improve the skills of your current leaders. Getting outside help can be expensive, but you also get a different perspective and unbiased feedback. You also get real solutions to the problems you face, rather than just being told what you want to hear. Use training programs first, but if you need to overhaul your management team, do it quickly and efficiently. † Syed Balkan† WPBeginner
8. Embrace ‘Extreme Ownership’
As your employees move left and right every month, look at that one common denominator: you. It’s helpful to blame inflation, your competitor, your industry, millennials, the weather, and hundreds of other factors as reasons people leave your organization. A true leader will embrace “extreme ownership” – a concept conceived by Jocko Willink and Leif Babin, both former US Navy SEALs – and announce that they own the whole problem. From there, a leader can create a plan that addresses high employee turnover using their own lessons and shortcomings. † Beck Bamberger† BAM
9. Focus on company values
One step I would take is to really hone in on the company culture and the values it is based on. I would approach HR and see if we could remember the leadership team and do more activities around values like leadership, dedication, empathy and more. We could create more incentives around leaders who live these values and get creative in developing a reward system around performance. † Alfredo Atanacio† Uassist.ME