In a recent conversation a colleague noted that while the big issue in 2020 was getting staff and participants on board with technology, the current issue is human connections, and getting people to “stay”. The last couple of years have taken a toll on each of us, with organizational rubble in the wake. The statistics are telling – 40% of employees stated that they are likely to leave their current job in the next 3-6 months, many willing to quit without a job lined up (How Companies Can Turn the Great Resignation into the Great Attraction | McKinsey, 2021). Retention has become a very relevant topic – how do we keep staff, leaders – and might I add – volunteers?
In recent months I’ve had the opportunity to participate in a learning cohort called The Retention Formula for Leaders ©- where we leaned into the research, practice, and self reflection of what keeps people – what keeps us – with a current employer. The Retention Formula for Leaders © was developed by three executive leadership coaches, including Dr. Sheila Rioux https://www.linkedin.com/in/sheila-rioux/, who have turned their academic and corporate executive expertise to coaching others. The literature mirrors what some of us have seen as an upswing in turnover, noting that the root cause is frequently not salary, but lack of ties, connections, and feeling appreciated that clinches the decision to leave (How Companies Can Turn the Great Resignation into the Great Attraction | McKinsey, 2021). The solution? Stepping back and investigating the cause of attrition before trying to apply a quick fix, and working on the organizational culture to honor people.
The top three factors employees cite as reasons for quitting is that they don’t feel valued by their organizations (54%), or their managers (52%), or because they don’t feel a sense of belonging at work (51%) (How Companies Can Turn the Great Resignation into the Great Attraction | McKinsey, 2021). The Retention Formula used the C.A.R.E. framework to help organize the practice – an intentional choice of acronyms that stands for connect, align, recognize, and empower. While getting things done, and paying people well are important attributes – how we treat each other, the resources that are made available for an easier work flow, taking pause to say thank you and provide recognition, and helping our colleagues reach for the next goal are critically important in keeping a good team.
Extension’s National Association of Program and Staff Development Professionals (NAEPSDP) will be hosting a virtual summer school this year July 11-15 from 3-4pm ET devoted to topics that are connected to Employee Retention. Interested in tuning in? Registration and daily topics will be posted in the next week or so here: https://naepsdp.org/. You can also learn more about The Retention Formula for Leaders © here.
For now – connect to your colleagues, share resources and practices that make our work more meaningful, give kudos, and share opportunities for growth!
References:
- How companies can turn the Great Resignation into the Great Attraction | McKinsey. (2021.). Retrieved June 3, 2022, from https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/great-attrition-or-great-attraction-the-choice-is-yours
- NAEPSDP upcoming Virtual Summer School. https://naepsdp.org/ July 11-15, 3-4pm ET – Topic: Employee Retention
- The Retention Formula for Leaders ©: https://leadbeyondcoaching.com/group-leadership-development/
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