Retention

RETENTION AND RECOGNITION STRATEGIES

retain.jpg

You get the knock on the door, “Got a minute”? One of your star performers walks in and starts telling you that they are leaving the organization. Ouch, this was quite unexpected and this person is an integral part of the team.  What should we do next? How can we prevent this of type of “bad turnover” from happening again?

Which comes first, employee retention strategy or recognition? Voltage CEO Jeff Smith and I did a recent radio show, Illuminating Leadership on this very topic. Below are some of the tips and tools we talked about.

For answers to the questions above and a deeper dive into Recognition and Retention Strategies please click this link:

                                                Recognition IS a Retention Strategy                                                                                             The Big “3” F-R-C

1.  Feedback – “Retained” employees want and need consistent honest feedback about how they are doing.

2.  Recognition – Ignoring star performers paves the way for them to be recognized by another employer.

3.  Caring – “Retained” employees feel a real sense of integrity from their reporting relationship.

                                     How to practice Recognition as a Retention Strategy

  • Find out what do employees want from their culture. It’s your job as a leader to create space for the retention discussion to consistently happen! Be inquisitive, get behind the Manager’s closed door and understand their satisfiers and dissatisfiers.

  • Don’t get hung up on trying to have the “perfect” retention program. Don’t delay on starting to recognize top performers and keep it simple. Even with little or no budget just do it.

  • Avoid the “Iceberg of Ignorance” - Ask staff and teammates, “what should we be doing differently”? Some data suggest that only 4% of “true” organizational problems are understood at the “C” level while 75 – 100% of the front-line managers and staff live with them every day!

  • Practice Re-Recruiting – Treat them as if you wanted to join your Team. What would you do differently?

Recognition ideas:

  • Lunch with the boss – Make it about them, not a defacto session

  • Don’t forget their birthday – simple, but many forget this simple opportunity

  • Peer to peer recognition – Build esprit ‘d corp by setting the example to follow

  • Hand written notes to the employee’s home / spouse, (with gift card / dinner etc)

  • The Travelling Trophy -Simple, fun and never goes out of style, (take their picture with it)

  • Give Time Back – ie, Time off to let them participate causes they care deeply about

  • March Madness – For fun only, tap the passion and excitement of the road to the final four

  • Let vacation be vacation -  And when they return, let them adjust a little as they “re-enter”

  • Work from Home day – Trust them to do what they need to. Give them the freedom to be who they are.


For additional leadership content click here

Lee Hubert is a Speaker, Facilitator, Trainer and founder of iTrainManagerforSuccess affiliate of Voltage Leadership, with over 20 years of experience in human resources development in healthcare, technology, financial and energy sectors. 

A Case Study On Retention and Growth Solutions

754A3630.jpg

To continue our series of conversations on hiring, developing, and retaining great new hires and internal leaders, Voltage is excited to exhibit a case study on a phenomenal client of ours.

This past Friday Torc Robotics was acquired by Daimler Trucks, a trucking subsidiary of the German automaker behind brands including Mercedes-Benz and Freightliner. This is big news for Torc Robotics and Blacksburg, Virginia.

Voltage has been working with Torc Robotics for over 5 years now and would like to show you a piece of how we have been able to assist Torc in their growth!

Writing the Second Act: A Retention Parable

Tools-Improve-Employee-Coworker-communication-management-meetings-mobile-video-teamwork-bootstrap-business-frugal.jpg

The Scene Is Set

“I need something different,” the leader tells me, an edge of frustration in their tone.

On another day, in another conversation I hear:

“This team isn’t bringing what I need to be successful right now” or

“ ______ does not have what we need to stay relevant in our market.”

Most of the time, the person or team in question has previously been a critical contributor.

Now what is surfacing is evidence of the dissonance between a once-successful key player and an organizational leader.

What is called for is a candid conversation about the organization's changing needs, and an exploration of the willingness of the employee in question to learn a new approach, grow new skills, and refocus their attention to successfully meet the next phase of the business’s needs. 

Most of the time this conversation does not occur.

Instead there is silence.

Observation.

Frustration mounts, as the leader continues to see evidence that their assessment is correct: this person is not going to move the group forward.

Eventually, if the conversation takes place, it has been put off for so long that when it takes place it occurs at the outset of a separation process between the company and a formerly key contributor.

So much is lost because of the silence.

 

Lack of Communication: the Tension Rises

Here is what is happening internally with the employee, on the other side of that leader’s frustration:

“What is happening here?”

“I used to be successful. I am doing the same thing, and no one sees or appreciates my work anymore.”

Fear rises. Frustration and confusion reign.

These feelings begin to inhibit the performance of the employee.

 

The Untold Story: What is Happening

Why? Because fear and anxiety cause our bodies to dump a chemical cocktail into our bloodstream, inhibiting our strategic thinking. The cortisol our bodies produce when we are anxious and afraid keeps our brain from accessing its pre-frontal cortex, our executive brain. Strategy withers. Fear reigns. And so performance begins to fall.

Little by little, the leader’s assumptions about the employee’s capacity are “proven.” Performance coaching begins and an exit strategy is created by one or both parties.

 

Writing a Retention Story

There is another way to write this story.

It begins with a conversation.

Not one about you and your performance and me and my needs. This conversation begins with a mutual exploration of a changing organizational and competitive landscape.

 

The Importance of an Intermission

Intermission. It is the time between Act 1 and Act 2. During this time the audience gets up, stretches their legs, and finds the bathroom, while the stagehands and actors madly prepare for the Second Act.

Great performers need an intermission with their leaders. A time set aside for a conversation that explores and celebrates was has happened up until now and looks ahead at what is needed next to prepare for what is yet to come.

 

The Intermission Conversation

The Intermission Conversation is a conversation in 3 parts:

Part 1    What just happened?

·        Review the accomplishments and successes. Celebrate!

·        Share what you both had hoped would go differently, and which experiences you treasure.

Part 2    What’s happening out there effects what is happening here.

·  Explore the current and approaching competitive landscape is explored.

·  Acknowledge the reality that the company is different and the marketplace is moving rapidly.

·  Ask: What will it take for us to continue to be successful, keep up and remain relevant?

Part 3    What’s next?

·  Recognize that was then, this is now. Changes must be made for success to be sustained.

·  Compare the current and approaching landscape vs. what the landscape was like when we had past successes.  In this conversation past successes are reviewed and compared and contrasted with the current competitive landscape and current cultural context in mind.

· Plan for the future: What does the continued success of the business require next?

The Second Act

This Intermission Conversation allows leaders and team members to reflect on what has been, to look ahead strategically, and to realign expectations going forward. It celebrates what has been, yes. More importantly, it honestly acknowledges that the success in the future will be brought by different strategies, actions, projects and priorities that this season. Naming that allows people to see clearly that ongoing success requires ongoing re-orientation for everyone.

When we take time to have an intermission conversation, people can come back to their seats, ready for the second act. Yes, sometimes, people will realize this show is not for them. But most people simply need a moment to get up, walk around, and think about what might come next. Then they can settle down, and get ready to enjoy the Second Act of the show.

Retaining seasoned, successful team members takes time and attention… but not loads of time. Usually short intermission conversations will do.

Let me assure you, the investment of that short, meaningful conversation is worth the reward it reaps: long term, engaged, seasoned and successful employees who feel valued and who understand where the business needs to go next, how they can contribute, and why what they have accomplished so far matters.

Who on your team do you need to have an Intermission Conversation with?

What will it means for your future success if that conversation goes well?

I hope you take the time to get that conversation on your calendar today.

Retention and Recognition Strategies

You get the knock on the door, “Got a minute”? One of your star performers walks in and starts telling you that they are leaving the organization. Ouch, this was quite unexpected and this person is an integral part of the team.  What should we do next? How can we prevent this of type of “bad turnover” from happening again?

Which comes first, employee retention strategy or recognition? Voltage CEO Jeff Smith and I did a recent radio show, Illuminating Leadership on this very topic. Below are some of the tips and tools we talked about.

For answers to the questions above and a deeper dive into Recognition and Retention Strategies please click this link:

                                                Recognition IS a Retention Strategy                                                                                             The Big “3” F-R-C

1.  Feedback – “Retained” employees want and need consistent honest feedback about how they are doing.

2.  Recognition – Ignoring star performers paves the way for them to be recognized by another employer.

3.  Caring – “Retained” employees feel a real sense of integrity from their reporting relationship.

                                     How to practice Recognition as a Retention Strategy

  • Find out what do employees want from their culture. It’s your job as a leader to create space for the retention discussion to consistently happen! Be inquisitive, get behind the Manager’s closed door and understand their satisfiers and dissatisfiers.
  • Don’t get hung up on trying to have the “perfect” retention program. Don’t delay on starting to recognize top performers and keep it simple. Even with little or no budget just do it.
  • Avoid the “Iceberg of Ignorance” - Ask staff and teammates, “what should we be doing differently”? Some data suggest that only 4% of “true” organizational problems are understood at the “C” level while 75 – 100% of the front-line managers and staff live with them every day!
  • Practice Re-Recruiting – Treat them as if you wanted to join your Team. What would you do differently?

Recognition ideas:

  • Lunch with the boss – Make it about them, not a defacto session
  • Don’t forget their birthday – simple, but many forget this simple opportunity
  • Peer to peer recognition – Build esprit ‘d corp by setting the example to follow
  • Hand written notes to the employee’s home / spouse, (with gift card / dinner etc)
  • The Travelling Trophy -Simple, fun and never goes out of style, (take their picture with                       it)
  • Give Time Back – ie, Time off to let them participate causes they care deeply about
  • March Madness – For fun only, tap the passion and excitement of the road to the final                       four
  • Let vacation be vacation -  And when they return, let them adjust a little as they                                        “re-enter”
  • Work from Home day – Trust them to do what they need to. Give them the freedom to be who they are.