JUST when you get the right people in the right seats in your organization, you get blindsided by a letter of resignation from a key player on the team…

Gut punch.

Now you have to scramble to figure out how to fill the hole. Oh, the joys of being the owner! 😊

To you it came as a shock, however, this loss has likely been bubbling beneath the surface for quite some time. You just didn’t see it!

Here’s a near foolproof way to prevent it from happening in the future:

• Don’t Be Cheap

If you want great people to stick around, you need to compensate them well. You don’t necessarily have to pay them more than everyone else, but your pay ought to be well above average.

• Co-Create a Vision & Show the Path

Your best people are motivated by a vision beyond where they’re currently contributing within your organization. Help them see future roles they could play, the potential you see in them, their long-term opportunities to make an impact, and then show them a path to step into that future.

• Be a Guardian

Your core values aren’t what you preach, they’re what you tolerate and consistently reward. Talk about your core values often & don’t tolerate team members who consistently fail to uphold them; reward those who do. If you want to ensure good people leave, say you value one thing and reward or tolerate something else.

• Don’t Overload Them

Talented people seemingly have an infinite capacity to take on more, so it’s tempting to keep piling on additional responsibility while being unaware we’re slowly crushing them. Check in with your team every so often on how they feel about their workload & equip them to either manage it better or turn the dial back a bit.

• Show Appreciation in THEIR Language

You can’t show appreciation in the way YOU like receiving it, you have to ensure they feel appreciated in the way THEY experience it. Not sure what it is? – ASK: “How do you know you’re appreciated for your work?”

Examples might be:

• • money/bonuses
  • gifts
  • words of affirmation
  • investing 1-1 time with them
  • an opportunity to take additional responsibility (long-term or for a particular project)

• Make it Meaningful, Make Progress Visible

Studies show two of the most significant reasons people love their jobs are because they feel they’re making progress at work they find meaningful. Do your team members have a way to measure and see their progress and have you helped them link why the work they do is meaningful (beyond how it grows the business)?

• Err on Autonomy

Resist the urge to micromanage. High performers don’t need it. Instead, tell them the end goal of a project and let them figure out how to make it happen. Support as needed, but it’s best to start with broad brushstrokes rather than pulling out your fine point pen from the onset.

• Value Them for More Than Their Contributions

Your team wants to sense you care about them, their families, their personal wellbeing and that you see traits in them you admire beyond how well they do their job.

One of the most expensive items on your P&L is losing good people. You can’t prevent attrition in your organization, but you can avoid contributing to it.

Which one of these eight resonated with you most?

What’s one action you’ll take as a result?