That depends. First off, I recommend you don’t ‘judge’ yourself because people leave. People leave for a variety of reasons: better opportunities, better fit for their family, financial, and the list goes on and on…….In addition, people are not always honest about why they’re really leaving. So let’s look at turnover as just that – turnover. Here are some things to keep in mind:
1. Younger employees are ‘turning over’ at much higher rates than ever before. That can be attributed to many factors – wanting more experience or learning for themselves, wanting a growth opportunity sooner than they see in their current organization, different work/balance structure, or other reasons that make a job or career change attractive.
2. Turnover can be a healthy thing for an organization; it all depends on who is turning over. As organizations grow and change, many employees may ‘self-select’ out if they feel they don’t like the change, the pace, goals or expectations or the general vision of the company. The bottom line: if those employees who are not a culture fit, performer, or engaged in the organization leave and go somewhere else that is good for everyone. It allows them a better opportunity and also offers the organization an opportunity to find someone who is a better fit for the job or culture.
3. Can it be a reflection on your management? Yes, but that doesn’t mean it is.
Here’s how you can do your part in managing your people and their development, and potentially influencing turnover.
1. Create a coaching culture. Organizations have shifted from traditional ‘command/control’ style management to a leadership style of coaching. Ask questions, resist the urge to tell others what to do and coach mistakes and failures rather than blame people for them.
2. Make feedback part of your everyday process. When employees know where they stand, and have the freedom to ask for feedback, more trust is created. Knowing where you stand is a key part of understanding your performance and where you have opportunity to improve and develop. And as a leader, ask for feedback from your people on what you can do better or differently.
3. Recruit and network. Recruiting and networking before you have a need is a great way to keep a pipeline of potential hires and also keep an eye on what’s happening in the workforce and industry. There are a variety of ways people are now securing positions, including second careers, contract work and/or temporary positions. This helps keep your options open when you need them.
4. Have development conversations often. This is not about creating positions, but rather, continuing to understand your employees’ desires for development and creating opportunities for them to learn and gain experience. Those opportunities might be in the form of team involvement, cross-functional experience, etc. and they provide a great way for employees to develop in a different way than the traditional promotional route.
If you fear your management style is contributing to your turnover, odds are there is some truth in that. Get yourself some support and coaching on how to be more effective – we at BankTalentHQ can help.
For more career, sales, and leadership advice please contact our coaches
Joe Micallef – Sales Coach – email firstname.lastname@example.org, or call (773) 329 0066
Donna Flynn – Career/Management Coach – email email@example.com, or call (630) 624-4319