Attracting and retaining talent is one of the top issues facing organizations today. The cost of replacing an employee can be as high as 50-60% of their annual salary, when factors such as recruiting, training and lost productivity are considered.
At exit interviews employees often say their reason for leaving is better opportunity, or more pay. Understandably, employees don’t want to burn bridges.
Let me tell you something I know for sure: A primary reason good employees leave is due to ineffective leadership and conflict mismanagement.
For example do you see the following?
- Poor performers are moved to another department
- The star performer is a bully so they are allowed to misbehave
- Your front line leaders want to be liked so they don’t manage conflict
Occasionally employees leave for other opportunities, but a real reason employees leave is when there’s a lack of trust, or when conflict is ignored or mismanaged.
Read more at my SmartBrief article here.