I'm having a lot of conversations about attrition. Are you?
Why do people leave their companies?
Growth or Glass ceiling
Boredom
Learning opportunity
Manager (escaping or drawn to)
Culture (Toxic work environment)
Money
Personal reasons
Let's unpack a couple of these and talk about what your organization can do to be more attractive as an employer of choice for a career instead of just a job.
Growth/ Glass Ceiling/ Boredom are shades of the same issue. I have a couple of clients who are looking for the path forward in their careers. They know that they are ready for the next challenge, but they are not sure how they can create or find that opportunity within their current company. They lack internal mentors. They haven’t connected with an internal network of people who are looking for their skill set. And they don’t really understand how their skills are transferable to other roles or divisions. These clients are ready to take on a big challenge, but they have no idea how to move forward.
So we’re working to understand mobility options internally, but it’s a lot easier for my clients to see and understand the external opportunities. I’m sometimes surprised at how quickly they shift from the internal conversation to the external one. I have to push them to think about where the growth is within their current company, and how they might build some continuity and consistency in their careers instead of jumping to the next company with an interesting offer.
What can you do about that? As a company, an HR organization, a leader or manager –
Do you know who your MVPs are? Have you identified the rising stars and the pipeline of strong junior talent? Data from performance reviews, anecdotal evidence from Employee Resource Groups, and formal/ informal surveys can help to create your lists. You can't keep everyone, but you can be intentional about your MVPs.
Do you know what THEY want? Once you’ve identified who you want to keep/grow/inspire, it's time for figure out how. You cannot sponsor an employee if you don’t know their goals and values. Formal Sponsor and Mentor programs will help to uncover aspirations.
Are you providing proper challenges? Rotational programs, stretch assignments, and international moves are examples of ways to make sure your future leaders don’t get bored.
Are you being transparent about opportunities, timelines, salary potential, and your desire to cultivate them as future leaders? It's easy to see the details of an external opportunity. If you're not providing transparency, your talent will go where things are clear.
I label myself a chameleon, and I thrive in challenge and change. I have this in common with a lot of the young people currently navigating the workforce. I spent 13 years at State Street because my network repeatedly presented me with really interesting challenges outside my comfort zone. Those challenges extended my tenure well beyond that of previous companies.
How can Elias Presence help you?
Book a Thriving as an Outsider workshop for your teams to unpack blockers and their toolkit for visibility and corporate success
Book a consultation to review your talent needs
And join me next time to talk more about attrition...
*Image by Freepik
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