I didn’t quit my job, I fired my company: Lessons to leaders on saving the best assets you didn’t know you had

I didn’t quit my job, I fired my company: Lessons to leaders on saving the best assets you didn’t know you had

A few months ago, I asked a simple question – have you ever quit a job? The responses came in fast and furious – but what was more interesting – were the reasons why people quit their jobs – and how many of them would have stayed if given the chance. In the pilot study, one of the key statistics that stuck out was….

92% of people said they quit because of management.

Think about it. It wasn’t the food, the benefits, the salary, or even their coworkers. The top reason that people quit was because of the management team. What’s even more scary than that? (Artwork by Rachel Christine Nowicki)

60% said that they quit because of their immediate manager.

Think about that for a second. Let’s say that you and 9 other people in your company have a $50,000 job. Your company is large, greater than 10,000 employees, and 10 of you quit in the year. No big deal, right? The average cost of turnover for someone in your range is about 150% – so that’s going to cost the company $750,000. If the average turnover in a company is 15% – meaning up to 1500 people would leave in a same year – well, you get the picture.

In the pilot survey, it didn’t matter what position the individuals were in (approximately half managed others, and half were individual contributors) or how long they had been with the company (20% had quit with less than 1 years’ experience with the company, > 50%  had been with the company 2-4 years, and 25% had been there more than 5 years).

I hear what you’re saying… I know this. I don’t want my (good) people to leave my company. What can I do about it?

First, congrats. No, I’m not being condescending but the fact that you actually want to do something about it – from your chair, from your position right there – puts you ahead of half of the crowd. There is a lot you can do about it…. And the first step is recognizing that your employees may not feel like they NEED you as much as they used to.

  1. Participate in Career Advancement with your employees = developing Career Engagement

Employees don’t want to be another cog on the wheel, something slightly better than a glorified robot. It doesn’t matter if it’s a manual labor construction job or a VP. More than 25% of employees said they wanted to have career engagement – an ability to engage at different levels of their career, and have both input and output about what they can do.

One senior level manager mentioned that he had been moved several times into positions that he had “no input or choice”.  He didn’t feel in control of where he was going, and thought leaving for higher ground was better than staying and waiting for what happened next

 

  1. Listen to your employees. That’s it. Just listen.

It’s amazing what someone will do when they know someone else is listening. When someone is paying attention to what their strengths are, where their problems are, and whether the manager really understands what they are saying.  One person said she quit because the manager had unrealistic expectations, and were not given the tools needed to succeed, despite repeated requests of the employees.  Another mentioned the regional managers couldn’t “effectively communicate company goals” and instead of listening to understand what was going on, they “blamed local managers for performance”. It can be uncomfortable to hear what your people have to say. It is even more uncomfortable to lose the person because they fired YOU, their manager.

  1. Know who you are. And know who your people are.

This may sound a bit wishy-washy, but it’s not. Nearly 40% of those polled said that the environment and/or the culture of the firm led them to handing the shoes to their companies and saying “fill these”.

You hire people for a job description. Accountant, buyer, sales rep. You may even have several – 20, 30 or more in each position. Each one of them are different. They have their own talents, their own strengths – and ones that are outside of their job description, but INSIDE the company’s strategic goals and values. Finding out what their strengths and talents are and using them to the company’s (and employee’s) advantage is called Talent Engagement and it is a very powerful tool that helps you as a manager and leader of your company get more out of your employees by giving them more.

Most of the time, people do not look forward to quitting their jobs OR firing their companies…. And are looking for ways to stay.

Understand your assets – help them stay – help everyone win.

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