On the Line

Most of you are in charge of certain assets. You are held accountable for protecting those assets and for growing them. Today, your most critical assets are people, not property. Outstanding people give you and your organization a competitive advantage. Regardless of the job market, you no doubt want to hold on to your best.

Are you accountable for selecting and keeping talented people? We have heard of a CEO who charged $30,000 to a manager’s operating budget because he needlessly lost a talented person. The buck really did stop there!

We’re not suggesting that managers be punished when their people are promoted or move on to learn something new. You will inevitably lose some talented employees occasionally, especially as they pursue their career dreams. But we do recommend that managers be held accountable for being good managers and for creating a retention culture where people feel motivated, cared about, and rewarded.

Bottom Line

The retention buck really does stop with you. We are not ignoring the impact of senior management, organization policies, and individual employees’ attitudes and actions. But we know you have great power to influence your talented employees’ decisions about staying. Conduct stay interviews with every employee you hope to engage and keep on your team. Find out what they want and help them get it! Show that you care about them and their needs. Remember them. Notice them. Listen to them. Thank them. Love them or lose them.