I Quit! 5 Reasons Incredible Employees Leave Their Jobs
It just so happens that very talented people could be right under your nose, slaving away. Their talent may also be slipping away. High turnover rates aren’t just a sign of the times, they are also a clear indicator that something is wrong within a company.
As an executive leader who manages these people, part of your success meter is determined by how much your team likes their jobs. Attrition is a costly and unhealthy for any organization. Let’s take a look at 5 reasons good talent leaves bad companies:
The boss
The number one reason people leave a job is because they don’t like their boss. As an executive leader or manager, you are the number one reason many people like or dislike their jobs. When was the last time you asked yourself, ‘Are you a bad boss?’
Nasty, aggressive, miserable executive leaders who don’t communicate with their staff lose more people than anyone else. You don’t have to come to work singing everyday, but you do need to treat everyone fairly, with respect and be approachable for questions.
Advancement opportunities
We are going to rank this as number 2. It’s important for your employees to see a clear career path. This doesn’t mean they need fancy titles, but on-the-job-training is a huge reason many folks are more satisfied with their work.
Lack of empowerment
Basically, if you have to ask permission, you start to feel like a grade schooler again. No one wants to be micromanaged. Executive leaders need to empower their people to make their own decisions.
There’s backlash to this, of course: Executive coaching helps leaders empower their people. In return, executive leaders know their departments are being run like clockwork even when they’re away on vacation or out of the office for business. It’s actually a little recognized win-win situation.
While bosses can’t necessarily do anything about cliques, executive leaders can try to foster team communications. Executive coaching intervention may promote communication and keep opposing forces growing strong, as well. If you have issues internally, try to find common ground everyone can agree on. When forces unite, politics lessen.
Recognition
All you need to do is tell someone they did a good job. That’s it. You need to say to the person who worked late, ‘Thank you.’ In fact, just swing by their desk or shoot an employee an email. Executive leaders can’t just get wrapped up in running a company, they must be thankful to the people who do the work that makes it run.
Ultimately, a job has to be a good fit for a person just as much as a person has to be a good fit for a company. However, even fashion lines need accountants and creative businesses need technical folks. To keep everyone happy, pay attention to your management style. If you still can’t get it right, executive coaching will fill in the gaps and find solutions about why your top employees are leaving.
What Is the Driving Force Behind Your Company’s Retention Issues?
But we wanted to go a little deeper into the issue, so we asked our clients the primary reason behind their company’s retention issues. Internal issues, such as poor leadership and inadequate compensation, proved to be the number one reason employees are leaving with 67% of the vote. The overall talent shortage is also leading to employees switching to more desirable jobs at other companies, reported 11% of respondents. Another 6% of business leaders said they’re losing top talent due to competitors actively recruiting their employees. Only 15% of respondents said they were not experiencing any retention issues.
There is good news for employers in these survey results, though. If internal issues are the main reason employees are leaving, then employers have the ability to fix the problems and stem the tide of their exiting talent. As a business leader, now is the time to make changes. Moving too slowly to correct these problems can have a massive impact on your business’s ability to grow. Simply put, your company cannot afford to lose your top performers.
What specific actions are you taking to retain your top performers? What have your employees told you they need in order to stay engaged?
EPRS Sherri Elliot-Yeary Interview
Radio Interview With Sherri Elliott-Yeary
Longevity-boosting Traits
Dan Buettner, authored The Blue Zones: 9 Power Lessons for Living Longer from the People Who've Lived the Longest. Blue Zones are places where people live longer and healthier than anywhere else on the planet, passing their centennial years at a rate 10 times greater than most Americans.
As Buettner and his team studied the Blue Zones, they identified nine common traits shared by those communities where people live longer. He was surprised that it wasn't only food and lifestyle, but also creating a most beneficial environment. Here's a look at these longevity-boosting traits, known as the "Power of 9":
- Move naturally. "Do your own house and yard work, go up and down your stairs with your laundry, knead your own dough," Buettner advises. "Incorporate more movement every hour."
- Know your purpose. "Take time to recognize your values, strengths, talents, passions and gifts," Buettner says. Reflect, and work on yourself.
- Down shift. Relieve chronic stress by finding time each day to nap, meditate or pray.
- The 80% rule. Cut 20 percent of your daily calories with proven healthy practices: eat a big breakfast, dine with your family, and begin each meal by expressing appreciation.
- Plant slant. Eat mostly plant-based foods, and small portions of meat no more than twice a week.
- Wine at 5. Drinkers live longer than non-drinkers. This longevity tip had one exception: those in the Loma Linda Blue Zone were Seventh Day Adventists, who abstain from alcohol.
- Family first. Living in a loving, thriving family can add up to six years to your life. Work on a positive, committed relationship and stay close to your aging parents and grandparents.
- Belong. "Those with the most social connectedness tend to live longer," Buettner says. Be part of a group of healthy-minded, supportive people.
- Right tribe. Good friends have a positive effect on your longevity. Support them and adopt healthy behaviors together.
Don’t Call Generation Y ‘Cheap’: They’re Conscious, Creative, But Coddled
By DANIELLE CHEESMAN
Twenty-somethings are getting a bad rap
Generation Y can't catch a break. First, they were declared entirely non-existent, but instead a made-up cohort created by market researchers. Then, by those who acknowledged their early 1980s births, the Millennials were deemed the most likely to be stuck in the lowest-paying jobs available (more specifically as retail associates—a gig that can rake in an average of less than $20,000 a year). Subsequently, and not surprisingly, the Atlantic named them the "cheapest" generation.
Granted, the economic crisis has had a hand in their fruitless job searches and selective spending habits, but other demographic factors are allowing Millennials to live their lives the way their parents, well, didn't.
"I wouldn't call them the 'cheapest generation,'" said Tina Wells, author of "Chasing Youth Culture And Getting It Right," "but more so, the most 'cost conscious.' Regardless of the current economic climate, online shopping has allowed Gen Y to search for products, accessories, etc. at a reduced price. In the same regard, because of the economy, they are, more than ever, looking for these bargain deals. There's also the reoccurring trend of 'DIY'—or 'do it yourself'—fashion that's big with this generation this season. Why buy, when you can make it and wear it yourself?"
Additionally, as Atlantic writers Derek Thompson and Jordan Weissman reported, there are companies that promote and participate in the growing trend of a "sharing economy" like Zipcar, as well as Airbnb, an online service that matches travelers looking for short-term accommodations with private parties, and thredUp, a site where parents can buy and sell kids’ used clothing.
And as smartphones begin to best cars as young people’s big purchases, Sheryl Connelly, head of global consumer trends at Ford, admitted, “You no longer need to feel connected to your friends with a car when you have this technology that’s so ubiquitous, it transcends time and space."
"They aren't buying cars," said Dan Schawbel, Generation Y workplace and career expert. "Many have moved back in with their parents. They have been delaying major life milestones like getting married and buying a home."
Ironically, it's their parents—and other elders who have already met those milestones—that are becoming a source of conflict in the success of Generation Y. In 2008, the "workplace generation wars" made headlines; three years later, it got more personal between "Gen Y vs. Baby Boomers." And earlier this year, TIME asked "Who would you rather hire?,"written by Schawbel, himself.
"Gen Y has completed their education, but the older generation of Baby Boomers have not left [their jobs] yet due to their inability to retire," said Sherri Elliott-Yeary, author of "Ties to Tattoos: Turning Generational Differences into a Competitive Advantage." "They no longer have a 401K, they have a 201K plan and medical care has gotten so costly, so we have a backlog of educated Millennials with college degrees—and some with large student loans—that are still living at home, especially when they earn on average $9 an hour in retail or waitressing."
However, when they're not battling it out at a place of business, it's the parents' constant coddling that becomes the conflict. In March, US News reported that at least 1 in 4 twenty-somethings feel comfortable moving back home after college graduation because of "'helicopter parenting' and continued closeness with their parents." The article called it a "benefit."
But Elliott-Yeary sees only an adverse effect in parents' reactive rescuing. "Many Millennials grew up thinking they were good at everything because helicopter parents never let them try something and fail," she said, "which is how we learn what we are good at and what we aren’t as we develop our career goals. So, many Millennials obtained degrees in a field that they are not really passionate about or interested in and it's [become] easier [for them] to work a lower level job without the stress of choice of what to do when they grow up."
There's little denial that Generation Y was hit hardest by the economic crisis. According to the Bureau of Labor Statistics, the unemployment rate among Millennials stands at 9 percent—that's 0.8 percent higher than the national average of 8.2. Still, Schawbel shows little mercy.
"Gen Y has to be accountable for their own career and lives," he said. "They can't rely on anything or anyone to be successful. They need to create their own jobs, possibly start companies and never give up. It doesn't look like the economy is going to turn around anytime soon, so Gen Y has to stop being entitled and take their future in their own hands."
To their advantage, however, is their creative nature and computer knowledge. Wells is keeping the faith.
"Millennials are tech savvy and conscious of the necessary steps to live life on their own terms," she said. "So, the retail associate today could end up being the next fashion mogul."
Light up Someone’s World!
By Sherri Elliott-Yeary, Generational Guru
William James, the father of psychology, stated that a fundamental human need is to be appreciated. This idea is supported by many studies that show the number one need expressed by employees is to feel fully appreciated for their work. The bottom line: We do more for those who appreciate us.
Although leaders at all levels widely recognize the need for employee appreciation, it tends to be a blind spot. We generally believe we are much more appreciative of our employees than they think we are. Showing appreciation is not a matter of time and intention. It’s a matter of priority and action. We must convert our thoughts of appreciation into acts of appreciation.
You can appreciate something about an employee him/herself (e.g., professionalism, reliability, creativity, organization, anticipating needs, enthusiasm, helpfulness to others, balancing work and family). You can also appreciate an employee’s performance (e.g., quality of work, teamwork, hitting a deadline, great presentation, and consistency of results over time, level of commitment).
Keep in mind that appreciation is certainly not a one-size-fits-all need, so we need to personalize our appreciation.
For example, being recognized at a big department or company meeting might trigger more perspiration than inspiration for an introverted employee. Instead, use the information you learn about your employees to present an appropriate gift, token or sincere expression of appreciation. Invariably, the gift will be less important than the time and thought that went into it.
As a leader, here are some simple ways you can demonstrate your appreciation:
1. Allow employees to present their work to your boss. This is a great way to engage them, and it also shows your boss what kind of leader you are.
2. Offer employees a choice of projects to work on. When they buy into a project, they will put their hearts into it.
3. Tell an employee’s story of accomplishment at a team meeting. Detailed stories are perceived as more interesting, meaningful, thoughtful and memorable.
4. Sincerely and specifically communicate one or more of these expressions of appreciation…
- You really did a super job on that project!
- I am really impressed with your initiative.
- Thank you for handling that tough interaction so professionally.
- I appreciate the way you found a win-win solution.
- Thanks for helping me keep that meeting on track.
Gallup research revealed workgroups with at least a 3-to-1 ratio of positive to negative interactions were significantly more productive than those having less than a 3-to-1 ratio. In other words, more productive teams had at least three positive interactions for every one negative interaction.
What is the ratio for your team? Is it 1:1, 3:1, 5:1 or 10:1?
Track your team’s ratio for a week to gauge how well you are appreciating your employees. Look for moments to acknowledge your team’s efforts and results. Reinforce those behaviors that you want to see more frequently. Catch them doing something right … and do it often!
As long as your appreciation is sincere and meaningful, don’t worry about giving too much of it. To date, there are no studies of anyone ever feeling over-appreciated! So, shoot for a 10 or 20 to 1 ratio. The more appreciation you give, the more performance you will get.
The good news is leaders have complete control over this type of appreciation. No budget limitations or excuses here – there are literally thousands of ways to show your appreciation at little or no cost. Our goal is to be creative and outthink our competition, not outspend them.
Light up someone’s world with a little appreciation today!
Sherri Elliott-Yeary, Generational Guru is the President of Optimance Workforce Strategies, a Dallas, Texas-based consulting firm. Sherri’s passion for serving leaders enables her to deliver high impact training and tools that elevate leaders and their teams. She is a high-energy leadership advisor, author and generational expert. Sherri has built a track record of successfully managing the challenges of rapid organizational change and she possesses an in-depth understanding of business, people and organizations.
Resilience: Responding to the Demands of the Workplace
We’ve all heard the adage: “When life hands you lemons, make lemonade.”
The expression illustrates the very definition of resiliency. These days we hear a lot about resilience, a person’s capacity to respond to the pressure and demands of daily life. Resilient individuals exhibit tendencies like flexibility, strength, buoyancy, durability and optimism.
In the professional world, the ability to demonstrate resilience is critical. At work, resilient people are better able to deal with the demands placed upon them. And, in these economic times, many of us are finding that these demands are requiring constantly changing priorities and increasingly heavier workloads.
In a scenario that many of us are unfortunately familiar with, one of my contacts, Stella, relayed that her company had extensive layoffs. Stella survives the cutbacks but her department of 14 is now made of six professionals. The workload is distributed evenly between the survivors.
Stella, who was already pulling late nights two to three times a week, now finds herself working weekends.
“But it’s okay,” she told me. “Obviously, nobody likes working extra hours. But it’s going to be worth it. It’s going to be hard for a while, but I’ll be able to pick up some new skills and build my resume further.”
While some people like Stella seem to come by resilience naturally, research has shown that it is a trait that can also be learned. Resilience fits into our beliefs, thoughts, attitudes, emotions, perspective and immediate behavior. If these characteristics are developed in a way that can build resilience, then we stand a better chance at reacting more positively to trigger events.
It is these events that trigger psychological stress – and, if not dealt with in a resilient manner – can lead to self-destructive habits and behavior.
There are three main types of threats to well being at work: people, the organizational structure and events:
People. People – us as well as other people – is the root of almost all reactive psychological distress. We can be our own worst enemy in terms of our well-being. Are you setting yourself up for failure by expecting the worst every single day? If this is you, then you absolutely will find a reason to be unhappy. Other people, especially management, can lead to stress by the demands they place on us and the way in which they treat us.
Organizational challenges. These challenges include a workplace culture, rules and structure, growth, expansion, downsizing and lack of communication. If your office requires you to take a sick day for a routine doctor’s appointment, for example, this goes against your well-being and forces you to choose between duty and health.
Events. Psychological distress is caused when events take place within the organization that threaten our security and well-being. Examples of these may include harassment, work cliques, intimidation, boredom and more.
It’s important for people to understand the different types of incidents that can create stress, because comprehension assists with proper planning to create coping mechanisms that are appropriate for the different scenarios.
When you develop resilience, you will be equipped to cope more effectively with people, organizational challenges and events that occur within the workplace.
All Rights Reserved © Sherri Elliott-Yeary
Appreciation
“There is more hunger to love and appreciation in this world than there is for bread.” – Mother Teresa
William James, the father of psychology, stated that the most fundamental psychological need is to be appreciated. We all want to feel fully appreciated for our work. The payoff for inspiring leaders is that people do more for those who appreciate them. Although leaders widely recognize the need for appreciation, it tends to be a blind spot. That is, we generally believe we are much more appreciative of our team than our team thinks we are. For example, I think I am more appreciative of my husband than he may feel appreciated by me. The same can be said of most leaders and team members. The reason is that we often do not convert our invisible thoughts of appreciation into visible acts of appreciation. With all of today’s technology options, it’s easy to find ourselves too busy for face-to-face interaction, but that’s one of the best ways to charge up our teams. Showing appreciation is not a matter of time and intention; rather, it’s a matter of priority and action.
Research by former Gallup chairman, the late Donald Clifton, revealed that workgroups with at least a 3-to-1 ratio of positive to negative interactions were significantly more productive than those having less than a 3-to-1 ratio. In other words, more productive teams had at least three positive interactions for every one negative interaction. By the way, the same study showed the bar was set even higher for more successful marriages – the key ratio was 5-to-1. Showing your appreciation is certainly a positive interaction and is a simple way to boost your ratio. Consider tracking your ratio for a week to gauge how well you are appreciating your team. Look for opportunities to acknowledge your team’s results and positive progress. This is basic psychology – reinforce those behaviors that you want to see more frequently. Catch them doing something right … and do it often. If you look for your team doing something right, opportunities to reinforce them will be plentiful. The key is to be sincere and specific. In other words, don’t fall into the trap of blurting out the robotic “Good job”. Take the time to thoughtfully explain why you appreciated the specific action taken by a team member.
For example, you might say, “Susan, I really appreciate the way you quickly resolved that customer issue without adding more time or cost to our delivery schedule. That makes a big difference for the company.” Demonstrating appreciation for your team and their efforts can put them on the fast track to inspired performance. There should be plenty of opportunities since a Harris poll found that 65 percent of the workers reported receiving no recognition for good work in the past year! That’s a pretty low bar. So, we should not worry about recognizing our teams too much. In fact, there are no documented studies of any team ever feeling over-appreciated.
Here are some simple ways to make recognition a defining moment for your team:
• Say “Thank You!” – An all-too-obvious, yet highly underused, form of appreciation.
• Go old school and write a card or note to a team member expressing why you appreciate him or her.
• Allow your team to present their work to your boss. This is a great way to engage your team, and it also shows your boss what kind of leader you are.
• Offer team members a choice of projects on which to work. When team members buy into a project, they will put their hearts into it.
• Put a sincere acknowledgement in your company or department newsletter. This takes only a few minutes of your time but creates long-term “trophy value” for the employee.
• Tell an employee’s story of accomplishment at a staff meeting. Detailed stories are perceived as more interesting, meaningful, thoughtful and memorable.
• Take a team member to lunch to show your appreciation. Remember to do more listening than talking.
Find ways that are natural and comfortable for you to demonstrate your appreciation since your authenticity is the key. The good news is that we have complete control over our appreciation. No budget limitations or excuses here – there are literally thousands of ways to demonstrate our appreciation at little or no cost.
Action Questions:
1. What is the positive to negative ration on my team?
2. What one thought of appreciation can I convert into a tangible act of appreciation today?
Four Generation Workplace
Collaboration vs. Collision: When do you think the last time you heard comments like these….. You’re right, but I’m the boss! Just do your job! I remember when … The kid wants a promotion after six months on the job! No! How did you react? Were you offended? Were you okay with the comment? Did you understand, or not understand, why someone would say these words?
The words and your reaction, as well as the reactions of others, reflect generational differences in the workplace. If you don’t think generation makes a difference, think of this example. When asked to recall how and where Kennedy died, the Veterans and Baby Boomers would say gunshots in Dallas, Texas; Generation X remembers a plane crash near Martha’s Vineyard, Mass.; and a Millennial might say, “Kennedy who?”
How can you effectively collaborate? • Understand the differences and learn to communicate in their language. • Develop training programs to educate your staff on the four generations. • Identify your knowledge workers and help them share their knowledge with the next generation.
Millennials Require More Than Just a Paycheck
Worried about their futures, young workers are taking a surprisingly strong interest in employee benefits.
Nearly 60 percent of all companies are taking measures to understand employees’ different generational needs when it comes to benefits, up five percent from last year alone. That’s according to MetLife’s 10th Annual Study of Employee Benefits Trends, released on March 19. It’s no wonder more employers are thinking generationally about employee benefits: Research by LifeCourse Associates has long shown that Millennials think very differently from older generations about planning for the long term and protecting themselves from risks—and about the role their employers should play in helping them do that. The MetLife survey reveals in new detail how recession-strapped young workers are approaching financial risks, and how they want workplace benefits to help them to navigate those risks.
One might assume older workers would be the most risk-averse when it comes to their finances. After all, they generally have more income and assets to protect than do young adults—and are more likely to have larger families (or any family at all). Turns out, it is Millennial workers who are the most risk-averse on every measure. According to MetLife, Millennials are the most worried about every kind of unforeseen financial risk, from sudden income loss (72 percent “very worried”) to uncovered medical costs (63 percent) to illness and disability (65 percent)—in each case, a remarkable 14-15 percent higher than Boomers. Millennials are even the most likely to be very worried about the financial consequences of their own premature death (54 percent vs. 39 percent of Boomers).
Millennials are also the most risk-averse when it comes to investing, once again the precise opposite of what one would expect based on age, and contrary to what investment advisors recommend for young adults. Eighty-one percent of today’s young workers prefer “guarantees that offer stable but somewhat lower returns” over “a higher degree of risk because the returns could be greater.” That’s 6 percent higher than for Gen Xers, 7 percent higher than for younger Boomers—and even 3 points higher than older Boomers, who are just a few years from retirement. Recent surveys have shown that Millennials indeed invest more conservatively than older workers.
And, as they have since childhood, Millennials are planning ahead for the long term and aiming to meet their life milestones “on time.” Young workers are by far the most worried about having enough money to buy a home and to pay off debts. This is expected, given their life stage, their high levels of student debt, and their consequent struggle to buy homes (see SI: “Why Young Adults Aren’t Buying Homes”). Yet this generation’s long-term planning goes even further. A remarkable 56 percent are “very concerned” about having enough money for their children’s college education. That’s higher than any other age bracket, including Gen Xers (52 percent) and younger Boomers (44 percent), who are far more likely actually to have children to save for.
Burdened with such strong financial concerns, seeking guidance and long-term security, to whom do Millennials turn? Enter the new “in loco parentis” employer. Young Boomers regarded long-term benefits as a relic of the old regime and seldom paid much attention to them. Young Gen Xers never met a long-term benefit they didn’t want to cash out—which, with the introduction of “total rewards” packages, they often did. Millennials are reversing this trend. They are accustomed to trusting institutions. They want employers to provide comprehensive benefits that support them, guide them, and protect them from life risks. Nearly half (49 percent) of Millennials strongly agree that they worry less about unexpected health and financial issues because of workplace benefits, compared to just 36 percent of Gen Xers, 35 percent of younger Boomers and 32 percent of older Boomers.
It should therefore be no surprise that benefits are a powerful tool for recruiting and retaining young employees. Millennials are the most likely to sign onto a company because of the benefits. Fifty-six percent agree that the benefits offered were an important reason why they came to work for their employer, a remarkable 25 points higher than older Boomers. And the benefits keep them there: 63 percent of Millennials say that benefits are an important reason why they have stayed with their employer, more than any other generation.
Millennials’ conception of benefits goes far beyond the usual insurance offerings. LifeCourse’s Why Generations Matter report found that it was Millennials who most valued employee support services like financial planning, tax prep assistance, and hands-on relocation assistance (61 percent of Millennials wanted this, compared to 44 percent of older Boomers). The MetLife survey similarly found that more Millennials “strongly value” education programs on individual finances and retirement planning (51 percent vs. 39 percent of Boomers). Paradoxically, all of these benefits would seem to be more attractive to older workers who have more complex taxes, broader investment portfolios, and larger families. Yet it is once more the young who most value their employers’ guidance and support.
In addition, both Millennials and Xers are more interested than Boomers in voluntary benefits that they can purchase and pay for on their own—though for very different reasons. Xers love choice, and prefer to opt in or out of benefits to fit their individual needs, rather than receiving a predetermined corporate package. Millennials highly value the corporate package, and want to add voluntary benefits on top of it. When asked about individual voluntary benefits, Millennials were the most likely to say they would be interested in actually purchasing them, from auto and home insurance to life insurance, disability insurance, and critical illness insurance.
Coming of age during the Great Recession has undoubtedly strengthened Millennials’ appetite for a benefits safety net. Two-thirds say that because of current economic conditions, they are counting more on employee benefits for help in achieving financial security (older generations agree, though by increasingly smaller shares). Yet the basic attitudinal drivers behind this appetite—risk aversion, long-term planning, and high institutional trust—have been with this generation for years. In a 2005 survey by Diversified Investment Advisors, 49 percent of Millennials said retirement benefits were a very important factor in their job choices, and 70 percent of those who were eligible were contributing to their 401(k) plan. A 2006 survey by the National Association of Collegiate Employers found that one of Millennials’ top criteria when choosing an employer was “good benefits package / stability (provides secure future).”
Since Millennials began entering the workforce, employers have routinely missed their focus on benefits, assuming that, like young Xers and Boomers, Millennials prefer high pay, flexibility, or prestige. On a 2007 Michigan State University survey, young adults ranked “job security” and “good benefits” as two of the most important characteristics they look for in a job. Yet when corporate recruiters were given the same survey, they mistakenly supposed that young adults would rate job security and benefits far lower, while overestimating characteristics like pay and prestige.
Today, as the MetLife survey shows, employers are increasingly taking note of the generational differences that shape employees’ approach to benefits. An overall rise in Millennial-friendly benefits is likely not far behind.
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