How to retain your top talent

The past year has seen people leaving their jobs in record numbers in what has been dubbed ‘The Great Resignation’. For companies, this has made it more important than ever that they retain their best talent, as the highly competitive job market means that replacing top performers is more challenging than ever.

Seeing any worker walk out the door can be difficult, but the loss is even harder to bear when it is one of your top performers. A business is significantly affected when good employees leave. It often results in a decrease in productivity and morale, and it generally doesn’t bode well for those who get left behind, as other team members may struggle with the increased workload and, potentially, burnout.

The same applies whether you are a 100-year-old multinational or a small business just starting out. If you are the latter, then it’s important that you make yourself aware of the key character traits of successful small business owners first; beyond that, it is crucial to determine the potential causes that could lead top performers to leave the company.

As such, here are some of the most common reasons good employees jump ship.

Ineffective Management

When a top employee leaves, the reason is often related to management.

The solution lies in applying management skills more effectively and generating a healthier work atmosphere.

Good managers take the time to learn what is important to each team member, and great managers take the time to understand each person’s lived experience, both at work and beyond. In addition, prioritizing employees’ social wellness can result in greater job satisfaction and personal contentment.

It is also important to have Psychological Safety at work. This is the belief that an employee will not be criticized or punished for speaking up with questions, concerns, ideas, or mistakes. Equally, employees must be allowed to express their thoughts and feel confident that they will be heard out.

It is also essential to have clear leadership expectations within the company. Managers should be visible and engage with employees directly, and should act promptly and with decisiveness. Lastly, they should hold themselves accountable for the outcomes.

Overwork & Burnout

Another of the main reasons many employees quit, especially top performers, is being overworked. High-performing employees often get saddled with extra work because they can handle it, and in many cases, do a better job than other members of the team. This is a particularly common problem for employees with high Altruism needs, as they have a natural tendency to be more open to helping others.

However, this can also lead to friction that may ultimately cause them to leave the company as it can be frustrating for them to consistently be given extra work simply because their co-workers could not complete it.

According to a 2021 report from CNN, around 745,000 people died in 2016 due to working at least 55 hours a week. It follows, therefore, that most top employees won’t subject themselves to the health risks caused by overworking, especially if they are not being compensated for their extra efforts.

The solution lies in better workload management and clear communication from both sides.

The process of distributing and managing work efficiently within a team, workload management is an essential factor in keeping top-performing employees from leaving your company. Not only does this maximize your employees’ performance and prevent them from burning out, but it also helps you and your team to feel satisfied and content at the end of each day instead of exhausted and overwhelmed.

Your employees must also feel psychologically safe even when expressing negative opinions on their job. Transparency and clear communication are key here: it’s important that employees understand the main reasons behind their workload, while managers should be mindful of each team member’s bandwidth and be careful not to repeatedly overload anyone.

No Room to Grow

Another reason top-performing employees leave is that they feel their career is not progressing in the way they would like, or they do not have an opportunity to grow. Typically, top-performing employees are not only talented, but highly motivated and driven individuals. Hence, it’s a given that if they are not provided with clear pathways for growth, or compensated fairly, they are more likely to look for a new opportunity that satisfies these needs. Compared to average workers, top performers tend to have a greater awareness of their value, and can often find jobs faster as they are more confident in their ability to seek greener pastures—particularly in the current job seekers’ market.

The solution lies in career growth support, adequate compensation, and proper motivation.

Firstly, employees should receive adequate support and encouragement in developing their skills. It is also crucial to make career and educational advancement opportunities available.

Developmental opportunities signal that the company is interested in not only expanding employees’ skill sets, but also in translating those skills into new opportunities. Top-performing employees may already have standout talents, but that doesn’t mean they aren’t looking for opportunities to grow and learn more—particularly if they have high Progress needs.

Meanwhile, compensation is not just about a big bonus or a salary increase, even for those with a high Financial Needs score. It can also come in the form of added benefits, perks, and even being prioritized in shift changes and scheduling.

At the end of the day, every employee is different, and that includes what motivates them. Being able to understand employees’ intrinsic motivations—and, crucially, how they may differ from a managers’ own—is therefore an invaluable asset.

This is where Attuned is a real game-changer for busy managers. By making each person’s hitherto unseen values visible, Attuned allows leaders to get to know their team on an individual level better and faster, both in terms of what kind of working environment they are most likely to thrive in, and the factors that make work more meaningful for them.

Armed with this knowledge, leaders can tailor their communication and management styles to connect with employees more effectively; quickly identify managerial blindspots and take appropriate action to fix them; and personalize the work experience to foster happier, more productive teams.

Conclusion

Ultimately, there are a number of different factors that cause employees to leave a company. And while employers may not always be able to do anything about it, being aware of both the most common reasons for leaving and the specific needs of your team gives you the best chance of anticipating and solving these situations before it’s too late.

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