{"id":12718,"date":"2011-09-29T04:00:18","date_gmt":"2011-09-29T09:00:18","guid":{"rendered":"http:\/\/michaelhyatt.com\/?p=12718"},"modified":"2011-09-29T04:00:18","modified_gmt":"2011-09-29T09:00:18","slug":"5-ways-to-retain-your-top-talent","status":"publish","type":"post","link":"https:\/\/fullfocus.co\/5-ways-to-retain-your-top-talent\/","title":{"rendered":"5 Ways to Retain Your Top Talent"},"content":{"rendered":"<p>Organizations spend an enormous amount of money finding just the right talent. Even if they don't employ professional search firms, they still invest a tremendous amount of time and effort <a href=\"https:\/\/michaelhyatt.com\/the-ideal-candidate.html\" title=\"Post: &ldquo;The Ideal Candidate&rdquo;\" target=\"_blank\" rel=\"noopener\">identifying, screening, and interviewing candidates<\/a>. But often, they don't spend the same amount of energy trying to retain this talent.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fullfocus.co\/wp-content\/uploads\/2011\/09\/iStock_000015943946Small.jpg\" alt=\"Businessman With Several Medals - Photo courtesy of &copy;iStockphoto.com\/aluxum, Image #15943946\" title=\"Businessman With Several Medals - Photo courtesy of &copy;iStockphoto.com\/aluxum, Image #15943946\" border=\"0\" width=\"570\" height=\"379\" \/><\/p>\n<div style=\"font-family:arial,helvetica,sans-serif; font-size:10px; line-height:12px; margin-bottom:10px; margin-top:-12px; padding:0px; text-align:center; width:570px;\">Photo courtesy of &copy;iStockphoto.com\/aluxum<\/div>\n<p>As the infographic below makes clear, there are five reasons why talented people leave their jobs.<\/p>\n<p><!--more--><\/p>\n<div style=\"margin-bottom:20px;\"class='visually_embed' \/>\n<p><img class='visually_embed_infographic' src='http:\/\/visually.visually.netdna-cdn.com\/5ReasonsTopTalentLeaveTheirJobs_4e739b3c81a69_w570.jpg' rel='http:\/\/visually.visually.netdna-cdn.com\/5ReasonsTopTalentLeaveTheirJobs_4e739b3c81a69.jpg' \/><\/p>\n<div class='visually_embed_bar' ><span> via <\/span><a target='_blank' class='logo' href='http:\/\/visual.ly' rel=\"noopener\"><img border='0' alt='visually' src='http:\/\/visual.ly\/embeder\/logo.png'><\/a><\/div>\n<p><a id='visually_embed_view_more' target='_blank' href='http:\/\/visual.ly\/5-reasons-top-talent-leave-their-jobs' rel=\"noopener\"><\/a><link rel='stylesheet' type='text\/css' href='http:\/\/visual.ly\/embeder\/style.css' \/>    <script type='text\/javascript' src='http:\/\/visual.ly\/embeder\/embed.js' > <\/script><\/div>\n<p> <a href=\"http:\/\/tiny99.com\/225537\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n<p>This is a great checklist for doing a little organizational self-assessment. How are you doing in each of these five areas? To turn this from the negative to the positive, here are five steps you can take to ensure the talent you spend so much time hiring sticks with you.<\/p>\n<ol>\n<li><strong>Be the best boss you can be.<\/strong> This starts with self-awareness. <em>What's it like to have you for a boss?<\/em> Move from awareness to training. Read leadership blogs and books. Take formal courses. <a href=\"http:\/\/www.buildingchampions.com\/\" title=\"The coaching company I recommend: Building Champions\" target=\"_blank\" rel=\"noopener\">Hire a coach<\/a>. (This is one of the best investments you can ever make.) Finally, solicit feedback from the people who work with you. One of the best ways to do this is via a formal <a href=\"http:\/\/en.wikipedia.org\/wiki\/360-degree_feedback\" title=\"Wikipedia: &ldquo;360 Degree Feedback&rdquo;\" target=\"_blank\" rel=\"noopener\">360&deg; assessment<\/a>.<\/li>\n<li><strong>Empower your people to make decisions.<\/strong> Don't just delegate responsibility; <a href=\"https:\/\/michaelhyatt.com\/what-the-bible-says-about-leadership-and-delegation.html\" title=\"Post: &ldquo;What the Bible Says About Leadership and Delegation&rdquo;\" target=\"_blank\" rel=\"noopener\">delegate the authority<\/a> people need to make decisions. You'll be surprised how much more efficient and effective your team can be without having to funnel everything through you. Yes, you can <a href=\"https:\/\/michaelhyatt.com\/the-five-levels-of-delegation.html\" title=\"Post: &ldquo;The Five Levels of Delegation&rdquo;\" target=\"_blank\" rel=\"noopener\">start small<\/a> and give people more authority as they earn your trust. Your goal should be to have your people moving forward on their own, with little intervention from you.<\/li>\n<li><strong>Reduce the amount of office politics.<\/strong> Be a positive role model. Don't gossip and don't tolerate gossip. <a href=\"https:\/\/michaelhyatt.com\/rule-1-don%e2%80%99t-publicly-criticize-your-boss.html\" title=\"Post: &ldquo;Rule #1: Don&rsquo;t Publicly Criticize Your Boss&rdquo;\" target=\"_blank\" rel=\"noopener\">Speak well of others<\/a> when they aren't present. If you can't do that, go directly to the person in question and resolve the issue privately. It works like this: If you sow loyalty, you will reap loyalty. If you so disloyalty, you will reap that, too.<\/li>\n<li><strong>Recognize people every chance you get.<\/strong> You should do this both formally and informally. For example, when my divisional leaders hit their monthly profit target, I would send a letter to their home (so their spouse could share in it) congratulating them. I also included a gift card of some sort. But informal recognition is critical, too. Make it your aim to catch people doing something right. (One of the best resources for this is <em><a href=\"http:\/\/www.amazon.com\/exec\/obidos\/ASIN\/0743290097\/fwis-20\" title=\"Amazon: The Carrot Principle\" target=\"_blank\" rel=\"noopener\">The Carrot Principle<\/a><\/em> by Adrian Gostick and Chester Elton.)<\/li>\n<li><strong>Communicate the financial condition of the company.<\/strong> If people don't get information about the company directly from you, they will get it somewhere else&mdash;often from your competitors or their disgruntled colleagues. You should <a href=\"https:\/\/michaelhyatt.com\/question-how-can-i-improve-communication-inside-my-company.html\" title=\"Post: &ldquo;How to Improve Communication Inside Your Company&rdquo;\" target=\"_blank\" rel=\"noopener\">have a plan<\/a> for regularly communicating &ldquo;the good, the bad, and the ugly.&rdquo; If the information is bad, your people can help improve it. If the information is good, your people can celebrate it. This is why I used to hold quarterly all-employee meetings to communicate the financial progress of the company.<\/li>\n<\/ol>\n<p>Finally, you should monitor your turnover rate. What percentage of your staff leaves your organization on an annual basis for <em>avoidable<\/em> reasons. (Don't count people who transfer because a spouse takes a job in another city, women who leave the workforce to stay at home with their children, etc.) If you will measure retention as a key organizational metric, you can start improving it with specific initiatives.<\/p>\n<div style=\"color:#000033; font-style:italic;font-weight:bold;margin-bottom:16px;\">Question: What do you do in your organization to retain your best talent? You can leave a comment by <a href=\"https:\/\/michaelhyatt.com\/5-ways-to-retain-your-top-talent.html#respond\">clicking here<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you understand why talented people leave their organizations, you can make sure it doesn&rsquo;t happen to yours. Here are five ways to retain your best talent.<\/p>\n","protected":false},"author":8,"featured_media":12717,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[80,117,83,378,120],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Ways to Retain Your Top Talent<\/title>\n<meta name=\"description\" content=\"If you understand why talented people leave their organizations, you can make sure it doesn\u2019t happen to yours. 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