Every few months, we look at our metrics on attrition, and it’s like a kick in the b&lls!
To anyone who cares about the company, or cares about people, losing valuable team members HURTS!
It’s reality… in a company of 600 people, you don’t get to keep each and every one of them.
But, HOW do you keep as many as possible?
Especially, the very best ones?
We have this conversation in more depth once per year when we get our employee survey, and we hear the voices of our team mates most clearly… and we are setting priorities for the coming year.
I HATE the conversation…
And, I don’t usually hate anything…
I hate it because executives, managers, leaders engage in the conversation trying to FIX “the problem”.
We actually had a conversation a year or two ago about why the “goal” should be “zero attrition”.
I disagree that “zero attrition” should be the goal… because I never shoot for “PERFECT”… because I will always fail. And, I don’t want to set “goals” that by design ensure failure.
I hate the conversation because its so generally pointless. Not completely pointless, but highly pointless. WHY?
Because THE MOST IMPORTANT THING THAT YOU CAN DO FOR YOUR EMPLOYEES is
CREATE
GREAT
STRATEGY.
When executives want to make it better for the employees, but aren’t willing to get into very candid and challenging conversations about creating GREAT strategy… it’s a highly wasteful conversation.
EMPLOYEES are INTELLIGENT.
They are so very capable of telling REAL change from WINDOW DRESSING.
Tweaking policy here and there to make intelligent changes is minimally acknowledged. There are always policy trends that will disappoint some and attract others.
Trying to make the employees' experience better (which means making their lives better) without addressing strategy is like trying to make a meal better without addressing the food. You can alter the experience, but over time if the food is not good, the meal won't be either.
The MOST IMPORTANT thing that we can do for our employees is create a WINNING strategy…
And, a winning strategy requires DRIVING a VALUABLE & RELEVANTLY DIFFERENTIATED PRODUCT to a DELIBERATE and TARGETED SET OF CLIENTS…
By SOLVING an IMPORTANT PROBLEM in a BETTER WAY… in a UNIQUELY valuable way.
That’s HARD!
You can't WIN over time…
WITHOUT a differentiated strategy...
Without a uniquely valuable proposition / strategy -
you are BATTLING for every deal,
you are constantly PRESSURED to reduce prices,
you are DEMANDING on your organization (your people) to deliver MORE for LESS…
And, when they DO… the continued competitive pressure demands EVEN MORE for EVEN LESS…
As leaders of companies… we MUST be looking for ways to deliver MORE for MORE… or even better to deliver
DIFFERENT for MORE…
Not MORE for LESS!
When we succeed at creating winning strategies… profits increase (and compensation goes with it)… you start playing with less competition so the pressure to lower prices is less pronounced or not there… the pressure to continue to do more for less…
And, EMPLOYEES LEAVE COMPANIES because…
THEY ARE TIRED of being asked to do MORE and MORE for about the same or sometimes for LESS.
THEY DON’T SEE IT GETTING BETTER!
THEY FOUND SOME OTHER COMPANY that is offering them a better VALUE…
And, VALUE for the employee is almost always DRIVEN by the VALUE that the company delivers to its clients…
MORE VALUE is delivered by BETTER STRATEGY...
GREAT VALUE is delivered by GREAT STRATEGY...
The lack of GREAT strategy drives MORE WORK at SAME PAY… (and the longer that you go without great strategy, the more pressure there is for MORE WORK at LOWER PAY).
Think about companies that compete without strategy in a competitive space. They slowly lose market share, or keep market share by continuing to reduce prices… and then they see attrition, and then they have to reduce compensation or incur losses... and more people leave.
Notice the trends of your attrition, and you will know the value and performance of your current strategy.
I care about people.. A LOT!
And, I know that THE THING that I can do to give them the MOST
LONG TERM stability…
OPPORTUNITY…
and the ability to GROW!
Is to CHALLENGE our current strategy continuously to make it better…
So that the company can GROW profitably in ALL ways!
Sure, I can tweak little things here and there pretending that it will have an impact on attrition… And, maybe it will in some small way in the immediate term...
BUT IT WON’T in the long term... and it won't with my most valuable teammates!
No matter how thoughtful your 10 year anniversary gift is, you wont stay long if every day, every week you feel like you are working more and more and are winning less and less.
PEOPLE STAY WHERE THEY CAN GROW and WHERE THEY CAN WIN!
PEOPLE STAY WHERE THEY SEE A BETTER TOMORROW!
And, the VERY BEST way … THE MOST IMPORTANT WAY to deliver that is through….
GREAT STRATEGY…
It doesn’t come fast…
It doesn’t come easy…
It doesn’t come without giving something up in the short term..
I want to run a company with ZERO attrition… And, someday, that goal might be close to realistic.
But, I need to grow as a leader to achieve that… I need to grow as a STRATEGIST to achieve that…
It’s not easy…
But, it is possible.
I don't believe in perfect... but I believe in BETTER... and I believe in GREAT!!!
If you don’t believe me… listen for the companies that have truly “happy and satisfied” employees – and check in on their strategies… I guarantee they have great ones…
So, how do we create
GREAT
STRATEGY?
I don't know for sure... but that’s a conversation that I’m open to working on all day long!
WHY?
‘Cause I care about people and I want to give them the very best experience possible! I want them to stay and help us WIN!
As a leader, it’s THE most important thing that I can do for my fellow employees.
It's certainly the THING that I am most passionate about at EMG...
And, it's absolutely the thing that I am most passionate about in life.
BE a catalyst, a spark, a voice, a leader, a FORCE for great strategy...
In order to BEST serve... And, to retain the BEST... to WIN!
In harmony,
Nestor