They are Stealing My Employees! Things to Consider About Employee Retention
May 15, 2023Every time I hear someone in a leadership position (or anyone really, but especially company leaders) say "my employees are being stolen" or anything along those lines (another term frequently heard is poached) it rubs me the wrong way. Why? It is hard to know where to start.
First we must get rid of the idea that employees are an employers property or possession, they cannot be stolen, bought, sold or traded. Employees are there of their own free will as part of a business arrangement between you the employer, and they the employee. Just having this attitude of possession could be revealing about how your employees are truly feeling, and begin to explain why your business is becoming a revolving door.
Did you know that every time you have to replace an employee it can cost you anywhere between 50% - 200% of their annual salary?
High turnover rates also negatively impact the morale of the remaining employees. Close relationships develop at work, it is not uncommon for a close friend to leave soon after, increasing the impact. This can result in what we call a "mass exodus" or a large turnover in a year or less.
A raise is not likely to solve the problem.
Making a counter offer to an employee who is giving notice isn't likely to work in the long run. Most employees leave for reasons not related to money, so a raise will only provide temporary satisfaction. People leave because of politics, bad leadership, company culture (or lack thereof), benefits, toxic environments, or toxic employees. A raise will not fix any of those problems. 90% of employees who accept a counter offer and stay will be gone within 1 year.
If you are experiencing a surge in people leaving your organization, the place you need to be looking is the MIRROR. If you want to solve the problem, seek answers internally not externally.
Some questions you should ask yourself:
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Are we creating an environment where people at happy to come to work and while at work? What defines happy changes over time and may vary a bit from industry to industry and person to person. You will never be able to make everyone happy, but are you trying to make most of the people happy most of the time?
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Are we creating an environment where our people can openly talk with management/leadership and discuss things that concern them, or are they afraid of push back, being labeled or worse? (When was the last time you had an exit interview you felt you could be honest about why you were leaving and what they could improve on?) It's never happened to me.
- Do we have good leadership in place?
- Do we have clear, consistent and achievable goals?
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Do we solicit our people's input?
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Are we LISTENING and asking questions when our people try and communicate with us to make sure we understand the concern?
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Are we doing something about it when our people voice their concerns, or are we politely pretending to listen, then patting them on the head and saying thanks for coming in? (This is SOOOO disrespectful).
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When things go wrong, do we support our people or look to place blame?
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Do we work side by side with our people when the heat is on, or do we go home and leave them to shoulder it without support?
- Are we overloading our people, then ignoring their cries for help?
The second thing that rubs me the wrong way about a statement like "our employees are being stolen" is its self centered perspective. It expresses no concern for the people that have left or any genuine concern for why they left. A happy employee cannot be "lured away". As a representative of the organization, you are charged with the health and welfare of your organization, you should be working hard to retain great people. We can't have an attitude that takes no responsibility and projects the problem outward, as though we have no ability to influence the outcome. A mirror is in order.
In any industry people move between companies to some degree, in niche markets it is even more pronounced. When your company gains someone from another organization is it "stealing or poaching"?
This is about good business and good leadership, not agendas. Your people are your greatest asset and I truly believe that if you treat your people well they will be rock star performers for you. I have had the privilege of leading some stellar teams that performed beyond any expectation and it was because they were heard, valued and treated with respect. This does not mean everyone gets everything they want - you are still the leader and make the decisions. Sometimes you will make decisions that are not your team's first choice; but when you solicit their input, listen, and treat them with respect they will follow your lead, produce outstanding results, and yes even stay!
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