In business, one area most people do not fully take into account is the amount of time, effort and cost companies and organisations invest into their recruitment process!
After all of the hours spent on advertising, screening CVs, interview processes, background checks, negotiation stage, the paperwork, etc. etc. etc… it soon adds up to be a big part of ones role.
Now think how disheartening it is when the recruit announces he/she is leaving (!!)… Not only have you lost talent, resource and your investment, but you need to re-do the whole process again!
So, the REAL question is… Why do good employees leave?
I personally believe that one of the biggest reasons people leave the firms they work for is down to poor management or lack thereof. Don’t be surprised, because in a survey of over 7,000 employees – 70% respondents have said that their manager’s behaviour is responsible for how engaged they feel at work and 50% respondents reported that they had to quit their job because of “bad managers” whom make a lot of managerial mistakes.
The worst thing is, most managers turn a blind eye instead of facing the issue and nipping it in the bud.
See below my list of managerial mistakes we, as Leaders, must steer clear from!
1. Lack of appreciation
Nobody, but nobody loves working anywhere where appreciation is not given. Appreciation, recognition and reward are the sweet things that help massively when hard work, commitment and loyalty are demonstrated.
There is no other way, as easy, to make somebody feel “flat” than not making a fuss.
If somebody does a good job, gets creative, has an opinion, does something out of the box – recognise and praise them!
2. The dreaded “Club”
Unless you are part of the “Club” everybody hates the “Club”. This is one of the most common mistakes managers make. They get a handful of people, they are friendly, have good “banter”, call on each other for favours, etc, etc, etc. and it is all great – except if you are not in it.
The ”Club” can be soul-destroying on many levels so as Managers, make sure you keep everybody on the same level and make everyone feel part of that “Club”.
After all, nobody likes being an “out-sider”
Those of you that know me will be saying “hypocrite” as you read this one… but seriously, feeling overworked can be the tip of the iceberg for those thinking of leaving.
One thing is if an employee wants to work late, wants to catch up on emails, or wants to clear their inbox over a weekend and another thing is the expectation of them doing so. If employees work late, praise them if they don’t – leave them.
Not everybody’s circumstances are the same, so don’t judge anybody on this basis.
We are all human, so make sure you take the time to get to know your employees. Know how to engage in conversations about their lives. People feel good when they are able to talk about themselves, so let them open up.
You will learn so much and be a much better leader for doing this.
It’s bonding time… Show them that you are human and can also have that level of conversation!
5. Lack of development
This is my favourite! Everybody wants to learn more and evolve, everybody wants to be the best, everybody wants to be better than they were yesterday – it’s a sign of progression!
They feel they are moving in the right direction and that there is no signs of a dead-end job – they could even get a promotion!
People buy into success and progression, so make sure you have the tools and resource to be in a position to make sure each and everyone of your employees receives the development they deserve.
6. Backing the wrong horse
Time and time again, managers back the wrong horse!
Putting your entire faith in one person not only can be a huge mistake for your business, but sends the wrong message to your other employees.
7. Yes, yes, yes!
What you think people want to hear is not always what people want to hear… Just saying “yes” to please people is not the answer they necessarily want – they just want to know the truth – so be honest.
There is nothing worse than saying yes, and then not being able to follow through – so don’t make this massive mistake.
I say – “Just say it as it is”
8. Holding “Me” back
If somebody wants to learn something new, or is curious about another department – let them be nosey!
Whatever you do, do not hold them back!
People’s careers, progression and status is so important to them and their families and it really does have a huge impact on the decisions one makes about the firm they work for.
I can honestly say that I speak to so many people in the industry and majority of the “reasons why” are these managerial mistakes I have listed above.
We, as Leaders, must be super conscious of the decisions we make in our day to day roles. People look up to us and place the development of their careers in our hands – don’t let them down.
Simply be conscious of being a better leader, and steer clear from these managerial mistakes!
If you would like to speak to us about how to start your journey please get in touch.
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Also check out Mike Coady’s Personal Finance Website.