Earlier this month, a friend of mine resigned from her position. She didn’t quit because the work was unsatisfactory. Her departure wasn’t because she didn’t believe in the organization or its mission. She quit because for months, her supervisor ignored her repeated requests to talk with her about important issues in her department.
Unfortunately, my friend’s experience is all too common. Organizations lose talented people every day due to negligent leadership. Replacing good people is costly. Not only does the company lose the money it spends to hire a new person, it also loses brain capital. When the person who resigns walks out the door, so does all the knowledge and expertise they gained in that position.
Following the pandemic and then the Great Resignation, it’s more important than ever for leaders to create a work environment where people can thrive. Unfortunately, most companies still spend more time and money maintaining their technology, buildings and equipment than they do developing their people. This makes no sense, because labor costs — wages, benefits and payroll taxes — represent the biggest expense for a large majority of organizations.
Keeping in mind that labor shortages are one of the top concerns facing employers in 2023, here are three steps you can take to retain your talented people.
Step No. 1: Commit to investing time in your people
The first step in retaining talented people begins with your commitment to invest time in them. My coauthor Spencer Johnson and I gave this advice in The One Minute Manager®. The message is as true today as it was forty years ago: The best minute you spend is the one you invest in people.
Investing in people does not only mean making learning and development programs available to them. It also means taking the time to strengthen your relationship with them.
Don’t use the excuse that the post-pandemic rise in telecommuting and video meetings make it hard to strengthen your personal connections with your direct reports. The method you use to connect is not important. What’s important is making that connection.
Select the medium—phone, Zoom, or face-to-face—that works best for you and your direct report. The goal is to understand their circumstances and find out what they are thinking and feeling about their work. That way you can determine their development level on each assignment and give them the direction and support they need to achieve their goals.
Step No. 2: Schedule one-on-one meetings
The second step in retaining talented people is to schedule regular, one-on-one meetings with them. These meetings don’t use up a lot of work time — just 20-30 minutes at least twice a month. As my late friend Peter Drucker used to say, nothing good in an organization happens by accident. If you don’t put regular one-on-one meetings with your direct report into your calendar, they won’t happen.
Allow your direct report to set the agenda. There’s no better way to show someone you care about them than to offer your time to talk about anything they wish. One-on-one meetings provide an opportunity for your direct report to speak openly about their concerns—and for you to respond to those concerns. You can also use this time to praise good performance and celebrate wins together.
Step No. 3: Listen skillfully
The third step in retaining talented people is to listen to them. When I ask people about the best leader they ever had, the characteristic they mention most often is that the leader was a good listener.
Being a good listener is easier said than done. Most of us tend to “sort by self”— we listen and judge from our point of view, rather than tuning in to what the other person is feeling, and seeing what the world looks like from their perspective. For example, suppose someone says, “It’s a beautiful day today.” A person who sorts by self might respond, “I know! I can’t wait to get out on the golf course!” Whereas a good listener might say, “You sound like you’re really happy today. Tell me more!”
On the flip side, if a person expresses disappointment or concern, don’t jump right into solutions. After the person speaks, reflect back what you heard to make sure you’re clear on what the issue is. If the person expresses feelings about the situation, don’t minimize their emotions or change the subject. Statements like “that sounds frustrating,” demonstrate that you empathize with them. By listening skillfully, you’ll not only gain insight, but you’ll also build trust with that person.
Remember, leadership is something you do with people, not to people. Follow these three steps to build genuine partnerships with your direct reports. Not only will you help your organization retain its top talent, you’ll also boost the morale and productivity of your team.
