How to Reduce Employee Turnover with 7 Critical Leadership Skills
Poor leadership is often at the root of high employee turnover.
In fact, according to a recent CMOE infographic, nearly 50 percent of employees were likely to leave their jobs if they didn’t feel recognized by their managers
While these types of statistics are disheartening, they also reveal an opportunity that the best leaders take advantage of. Developing specific leadership skills for the workplace can support employee retention by increasing performance, job satisfaction and a whole host of other factors.
Let's dig into the leadership skills that managers can use to reduce employee turnover and enhance business results.
Recognize and Acknowledge
Reward and recognition has been shown to have a strong impact on employee performance and engagement. This may seem like a simple thing to do but many leaders struggle to do this effectively. To reward your employees for their contributions, you need to take the time to make note of their successes and find effective ways to let them know that they are appreciated.
It’s not uncommon for employees to leave a job because they feel that their growth has stagnated. A Cornerstone survey revealed a direct connection between lack of opportunities for development and high turnover. Good leaders will invest in their employees by creating new opportunities for education and career advancement.
Make Your Vision Contagious
Employees who feel like their work has meaning and are driven by a sense of purpose are much more likely to dedicate themselves to their jobs. Strong leaders know how to pass their vision on to their team and inspire them to achieve the goals that will bring them to realization.
Cultivate a Respectful Workplace
Demonstrating respect with your employees and promoting it between team members is invaluable. It is also a critical component of gaining the respect of your employees in return. You can achieve this in a variety of ways that include being responsive, admitting to your mistakes, demonstrating that you value their time and energy, and creating an inclusive culture.
Promote Employee Development
Great leaders know how to extract the highest amount of value from their teams by giving them the opportunity to develop their skills and education. This can be achieved by putting together a development plan for each employee, providing the necessary tools to meet these goals and cross training them to create more variety in their job roles.
The ability to communicate effectively to deliver messages and drive results is a skill that should not be underestimated. Poor communication is a common issue when it comes to employee dissatisfaction and high turnover. Consistent and clear communication should be a priority if you want to keep your workforce engaged for the long haul.
While solid feedback regarding past performance is a must, this skill also involves relaying information throughout the process. Letting your employees know what is expected of them and working with them to determine realistic timelines and results will eliminate negative surprises at the end of a project. If you leave them in the dark about their performance you can expect dissatisfaction and turnover to skyrocket.