5 Ways to Reduce Turnover. And Solve Big Problems
Today’s executive leadership must be feeling the strain and stress of employee retention and turnover. Just a few months back, the U.S. Census Bureau tallied the number of employees who quit their jobs in 2021 – a total of 69 million, almost half of which were voluntary quits. We know and accept that employees don’t quit bad jobs, they quit bad bosses. Here’s what today’s leadership can do about it.
According to ILEC’s coaching philosophy, there are four “game-changing” transformative outcomes that leaders can leverage in business and life: altruism, affiliation, achievement, and abundance (The 4 A’s). The 4 A’s are the seeds to achieving sustained greatness, driving breakthrough results for themselves and their team and creating a legacy that lasts. Let’s focus on the four A’s and one special fifth point of advice. Below, we review a meaningful strategy by looking at five ways to reduce turnover and get an outside perspective to solve employee retention problems along the way.
- Altruism
This refers to behavior and demeanor – a belief, put into practice, that a company’s leadership is indeed selfless in nature, interested and invested in the well-being of those in their workforce. If you don’t exude an altruistic purpose, you aren’t providing your employees with a basic need.
- Affiliation
For CEOs and other C-suiters, affiliation implies a close association between leadership and employees that expresses a relatability to their workforce. How many current leaders would describe the relationship with their employees as close and mutually beneficial? Employees who feel valued are employees who feel content.
- Achievement
In high functioning organizations, achievement is both a stated goal and occasion to celebrate – especially together. Are your employees engaged? Do they feel seen, heard, and valued? Do they understand what’s expected of them and how to succeed? As a leader, if you can’t define achievement, or celebrate it when it occurs, your employees won’t feel connected to the organization as a whole and morale will undoubtedly suffer.
- Abundance
As an executive leader, is there enough of your leadership to go around? To align your company’s interests in the achievement of your workforce, abundance means there’s a mutual feeling of confidence and fulfillment among your organization. And those who feel recognized, fulfilled, and abundant rarely need to see how much greener the grass is on the other side of the fence..
- Hire an Experienced Executive Coach
The daily fight to retain the most talented staff members is real, and the damage done from employee turnover can result in incalculable losses for companies and organizations. For some, it requires outside assistance. The right coach for the job will be well-skilled at assessing company culture and putting actionable steps in place to address the factors leading to an inordinate amount of employee turnover.
Investing in an executive leadership coach can pay many dividends down the road. The challenge of retaining your top talent is too grave to gloss over and likely requires a real commitment to solve. At its heart, it’s a small-sized solution that can save you from experiencing big-time problems.
Intelligent Leadership Executive Coaching (ILEC) is the world’s No. 1 executive coaching platform dedicated to growing tomorrow’s leaders through organizational transformation. Our master certified ILEC coaches utilize a proven blueprint and philosophy designed to help you become an effective executive leader. If you’re ready to take the all-important first step, let’s discuss your personal mission, vision, and purpose.