New Leadership/Management agenda set by Irish research
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340,000 Irish workers moved jobs in 2007, a Small Firms Association report has shown. This represents a voluntary turnover rate of 17%.
Thus having an effective strategy in place to retain employees is now a strategic imperative considering the mobility of the marketplace, and the high costs of recruitment – a strategy that needs to be more far reaching than just raising employees salaries. The latter will not be refused, but it only buys you time, not productivity or commitment.
Exit polls undertaken by the SFA give an insight into the profile of the new employee:
- 102,000 were unhappy with people.
- 85,000 felt contribution was not recognised.
- 68,000 because of lack of advancement.
- 47,600 because of salary.
- 17,000 were bored with their job.
- 20,400 for other reasons.
Honouring these results, Leaders must work on the following challenges:
Creating a community within the workplace – as mentioned on earlier entries research has shown that an employee is much more productive if he is working with friends.
Empowering employees to make a difference – as is the case in many forward thinking organisations allow employees time to pursue voluntary activities.
Creating a compelling vision that reflects their employees dreams, hopes and interests.
Developing their people – as technologies converge, they are fast becoming your only chance of a competitive advantage. Training and development should be enshrined in the company culture, not just an optional extra offered sporadically. Part of this development should include feedback where the employees performance is constructively reviewed on a regular basis. Progress should be recognised and a structure should be put in place to help employees overcome any challenges eg working with mentor, training, whatever.
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Kevin Kelly is an Internationally Acclaimed Motivational Speaker and authority on leadership.