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Why Can’t You Retain Top Talent?

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Why Can't You Retain Top Talent?

The competitive nature of today’s global economy stipulates that you have and retain the top talent in your organization. We acknowledge that to do so is as great of a challenge as it has ever been.
 

A recent article in USA Today highlighted how American workers are on the move. They reported that “27 percent of employees switched jobs in the 12 months ending in the first quarter according to payroll processor ADP, the most since the firm began tracking the figure in 2014.”

Courtesy: USA Today

So what is a leader to do in order to retain and recruit top talent for their organizations? We have identified several characteristics that may shed some light on why your top talent may be headed through that revolving door. We believe as you take care of these leadership issues you can build the type of team that people would want to work for and think twice about leaving. But first, why are they leaving?

Lack of clear expectations
 

Nothing will frustrate your top talent more than a lack of a clear set of expectations and vision. Without it, your organization is adrift and your people struggle to find their way. Employees have to fight extra hard to succeed when they do not clearly understand what is expected of them in the first place. The constant feeling that they are not performing at an acceptable level, even if they don’t know what that level is, will send top talent running for the door.

Lack of investment
 

Your top talent needs to know that you are totally invested in their success. The buy-in is a two-way street and it needs to be demonstrated in tangible ways that reinforce your commitment to their success. Your investment in them shows that they are valued and that you are confident in their ability to make a meaningful contribution to the organization. When top talent feels that you do not value them enough to invest your time and resources in them, they will begin to seek an employer who will.

Perceived lack of respect
 

The culture and morale of your organization rest on foundational leadership principles. Namely among them are trust and respect. Top talent is especially attuned to the respect or lack thereof, that you have for them. These employees have devoted much of their lives to developing the skills, knowledge, and experience that make them so valuable. If the people in your organization perceive that you do not respect them, then it only stands to reason that they will be a part of a future exit from your organization.

Lack of a clear path forward
 

We want to be very clear about this leadership principle. Unless your people have a clear path forward, it will be clear to them that they are in the wrong place. In his book, The 21 Irrefutable Laws of Leadership, John Maxwell writes, “You can find smart, talented, successful people who are able to go only so far because of the limitations of their leadership.” It could be that the top talent in your organization is leaving, not because of a lack of opportunity, but because of a lack of leadership and a clear vision as to where they are going. It is incumbent upon you as the leader to provide it.

Lack of authentic leadership
 

Nothing will demoralize your people or your team members more quickly than a phony leader. Besides, too much is at stake for a leader to be anything other than genuine. Authenticity is the foundation for trust. No one wants to work for a leader who cannot be trusted. If you lack authenticity, employees will start to question your motives; they will perceive that you have hidden agendas that are not in their best interests. If the top talent within your organization can’t find authentic leadership where they are, they will look elsewhere for it.

We all have the desire to succeed; we want to know that our contributions are valued and that we are making a difference. Top talent has sacrificed far too much to achieve their level of skill to compromise on the leadership environment they work in. Provide them with the clear expectations they need to be successful. Invest your time and resources in helping them achieve great things. Leave no doubt as to how much you respect and trust them and their abilities. Provide them with a clear path forward and the means to follow that path. And, be an authentic leader, someone that top talent can look up to and emulate.

Your organization can only rise as high as your top talent. Isn’t it time to start retaining those employees who have the potential to add so much value? What adjustments will you make to your leadership today?

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