Retention Dimensions 2023
Retention Dimensions: 2023
Retention is still an issue, but it takes on many new dimensions in 2023.
Savvy Talent Development and HR leaders have their work cut out for them.
“I’m quitting to pursue my dream of not working here.”
If you laughed at this quote, you’ve likely fantasized about writing it. If you didn’t, you’re probably an HR leader, a business owner, or manager who has spent the last two years fearing it. In either case, as 2023 rears its “iffy” head, it might be worth pausing to reflect on where we have been and where we might be headed.
Were you one of the thousands of HR leaders or business owners and managers who fell victim to the Chicken Little Syndrome of 2020? You remember “Chicken Little,” that old folk tale about an acorn that falls on a little chicken’s head, convincing her that the sky must be falling.
Did The Great Resignation acorn land on your head, causing you to jump to catastrophic retention fears and conclusions? If so, did they paralyze you or galvanize you? Because you did have a choice – and still do! In fact, most data suggests that the Great Resignation is not over. And I submit that it never will be. Why? Because employees will always be tempted to leave for those greener pastures they always hear about. The situation was not hopeless in 2020 and it won’t be in 2023 either! Yes, there will be some bad news, but there is also a lot of very good news! Let’s take a look at this news.
Some very good news is that not every employee is leaving. But the bad news is that some of those who should leave are staying.
The good news is a lot of good people are still around. The bad news is some of them are thinking of leaving.
The good news is you can still keep many of them in your pasture. The bad news is YOU have to something to ensure that happens. Lucky for you, we got some great and simple ways for you to do that.
THE 6 RETENTION DIMENSION CHALLENGES
As a talent leader, your managers need to know that how they think about keeping their great people can make all the difference in who they retain and how. There are 6 Retention Dimensions and each one comes with its own management challenge. Dimensions” are aspects of a situation or issue, especially those that influence the way you think about it. Which of these Retention Dimensions has challenged your managers? What will your new managers face? What will confound them?
While these questions are all challenging, there are some fantastic ways you can address them and turn them into wins. And you can access them here in the Retention Dimension series of articles I’ll be sharing with you over the next few weeks. Here’s the first of them:
RETENTION DIMENSIONS 2023
Retention Dimension #1: THE INTENTION DIMENSION
What Do I Intend to Do to Keep the “Keepers” (Even After the Great Resignation)?
Whether the great resignation is or isn’t alive there will always be what I call, “The Innate Resignations” – those that will occur regardless of any widespread calamity or trend. Face it, there are people in every talent pool who innately keep an eye out for better opportunities.
If you’ve read this far, you’re most likely a talent leader, responsible business owner, or manager who recognizes that even in the absence of a worldwide pandemic, leaders need an intention, a plan, for keeping the keepers from wandering outside the fence. But let me ask… Have you evaluated the feasibility of whatever plan you have against your (what or whose??? -not clear) own strengths and weaknesses? What is your understanding of the current situation? Have you paid attention to your current organizational practices and management behaviors? If not, this short assessment should help focus your thinking on what you need to do before proceeding.
Rate the accuracy of each of the following statements:
If you answered “NO” or “NOT SURE” to any of these statements, you have some work to do! If you aren’t sure who your most valuable employees were two years ago, odds are you won’t know who they are today. Likewise, if you’re not sure who is at risk of leaving or quietly quitting, you are equally in the dark as to how to keep them. So, what can you do to “keep the keepers” starting now?
SIMPLE! Look and listen! Conduct ongoing Stay Interviews with everyone you hope to keep engaged and on your team. Make these conversations a normal part of doing business and of being an effective leader. Take note of those who appear engaged and happy with you and with their jobs. Also take note of those whose job EKG has gone flat for some reason and ask yourself if they could be considering leaving. If you hadn’t established this habit two years ago, start now! Knowing now what you didn’t know then is the most important place to start.
TAKING ACTION:
Once you have had these critical conversations, take meaningful action to remedy any issues or problems. Just having the Stay Conversation let’s your prized employee know you are interested in keeping them and that you care. Taking actions to remedy those issues and problems is where the rubber meets the road. If you don’t you will make things much worse and likely quicken their departure. If you aren’t able to solve the problem that they present to you, let them know. Have a conversation about it. Brainstorm with them about alternative approaches and solutions. Then put your attention on the things you can impact. A little goes a long way. Small actions make a big difference. Then keep on checking in on a regular basis. Satisfaction on the job is not a “one and done” event. It requires continuous attention as people, circumstances, and situations change.
So, what do you intend to do to keep YOUR keepers? Start taking action today! Stay tuned for part 2 coming soon!