You would think the #1 priority in these times is sales. In my coaching and interactions, I am noticing an area even more important: Employee retention.
Experts struggle to accurately gauge the cost of employee turnover. There are many repercussions. Customer relationships can be affected, training expenses increase, and employee morale and engagement can be dampened.
Early in my career I had a job in selling. One day I was calling upon two large companies. In each visit I took the opportunity to talk to the receptionists. In each conversation I asked the same question: “What’s it like to work at _______?” In company “A”, the response from the receptionist was ebullient. She began raving about how much she enjoyed working there. She took out pictures of herself at company events having a blast. She showed me her special recognition pin. As my mother would say, “Who put a nickel in you?”
Then there was company “B”. Her response to my question was quite different. She glanced around giving a furtive look and said, “Do you really want to know? They don’t tell us anything. We’re just supposed to do our job and keep quiet. We just work here.” Ouch. No boss would want to hear that.
So what happened to company “B”? Was there poor communication, a lack of respect, or not much empathy? Probably all of those and a few more. Comparing companies “A” and “B”, which one do you think had the least turnover? What one made the most profit? If you guessed “A”, you are correct.
When I coach teams for improved performance, the first thing I look for is the trust level and how important each team member sees themselves. If you want a strong team, you should too!
