Leaders in organizations today are losing their best and brightest fast. What does that say about management in the 21 st century and how our values can contribute to lowering staff turnover? Read more to find out!
A 2018 study by Gallup showed that around 60% of Millenials are currently open to new job opportunities and are by far ‘the most likely generation to switch jobs” . In comparison to approximately 7% of gen Xers and other Millenials, 21% of Millenials in 2016 reported switching jobs within the past year. This ‘excessive job hopping’ has cost the US economy more than $30 billion a year according to
numbers.
Before you dismiss this as a mzungu problem, it is not. The truth is that in any company regardless of ethnicity, turnover is a hot topic. Employees rarely leave organizations seeking out greater opportunities, leadership or communication. They leave because what those things do for their experience at their work. Given the choice between a high pay and miserable experience versus a smaller pay with a better work experience, most will choose the latter.
A good leader knows the best way to build staff loyalty is by working closely with them; engaging them and getting them to commit thus improving productivity. Leaders who have great relationships with their teams can see how and when they get disgruntled in their work. They understand when to empathize and how best to engage their teams’ best attributes to bring about great overall performance.
A productive workspace doesn’t mean bombarding employees with work and telling them to work harder when they fall short. Mentorship, promotions, appreciation, challenges, company mission and vision, being trusted, empowered and well compensated are great ways to encourage a culture of productivity. The Millenial workforce today wants to see growth in and from their leadership. They are
willing to commit. They may be in it not for 20-30 years at first but commitment is not about how much you produce in a given time. It is producing ten times more in a shorter period of time through engagement with the workforce. Values such as trust, legacy, commitment and productivity can build staff loyalty to the highest level.
“The Millenial workforce today wants to see growth in and from their leadership.”
At 19 years old while working in the airline industry, a competitor approached me with a position at their company. I was honored and curious because it was a well-known international company and the position was lucrative. I wondered how they came to know about me. I excitedly accepted and got to work. I also fully intended to find out why and how I came to be selected for the team I was in.
When I finally got to ask my recruiter he said “We saw your work while with your former employer, how committed you were and believed that you could productively put in the work at odd hours when you mean by committed and productive?” The recruiter then recounted observing me in some situations working side by side with competitors to resolve various issue as well as being helpful to customers particularly when flights were cancelled because of weather conditions.
When selecting who to recruit, get to know who you currently have. Find out what’s lacking and how best to keep the team spirit high. Choosing the right personalities to work with can be very challenging but as leaders we must use the relationships we built within our teams to enhance our own productivity in the process. If this all sounds too formal, take the time to grab drinks or coffee with your team. Listen open-mindedly to other viewpoints and engage on different levels. Let what they share shape your management style and let your value shape interactions that will improve performance and productivity.
For years the idea of who a manager/boss is remained unchallenged so most of us were preprogrammed to act and behave a certain way. However leadership and management in the 21st century embrace versatility and diversity. To succeed in this era, to nurture talent and retain, we must seize the opportunity every day to address our (and the team’s) shortcomings on every level starting with the individual. Less how ‘The Boss’ will be perceived and more what will ‘The Boss’ achieve.