In looking through 2019 1H research studies here the top three drivers of employee attrition: compensation, career development opportunities and people management. Compensation has leaped into the number one position now. That should be very alarming for HR professionals.
HR should put renewed (or additional) focus attention in these areas and have strategic initiatives to deal with them.
Compensation is tricky. Employees are figuring out their worth and leveraging it to job hop. Organizations are overpaying for talent because they aren’t developing employees, poor employee engagement and experience and people managers don’t have the necessary skills to manage their employees.
All three of these go hand-in-hand. It’s not hard to see the linkages.
Compensation has vaulted into the number reason employees quit. That shows even less loyalty and engagement because money trumps everything else. That’s not the case for employees who love their jobs. But it is the case for those below that level.
Compensation really isn’t the issue. The above items go back to poor engagement, culture, teamwork, trust, psychological safety and other fundamentals that are broken. These are the real root causes.
It’s why it’s NOT getting better because it’s not being adequately addressed. It’s Ground Hog Day in 2019 like it was in 2018.
The solutions are much less expensive to deal with the root causes versus the leaves on the trees.
Have you ever admired those successful, confident, motivated, and charismatic people who seem to have it all? They’ve climbed the corporate ladder quickly or started a great business.
They’ve made all the right connections. They’ve mastered networking and how to build relationships. They’re very persuasive and created significant influence with people. And…all of this has opened up limitless opportunities for them.
Their secret? They are self-aware.
Jason Treu, executive business coach, joins Adam this week to share some of the tips he picked up working with influential leaders such as Steve Jobs (Apple & Pixar), Reed Hastings (CEO at Netflix), Mark Cuban, Mark Hurd (CEO at HP), and others.
What is self-awareness;
Why self-awareness is important;
The key concept in understanding self-awareness;
How people make breakthroughs to change behaviors;
And much more!
Are you self-aware? Listen to this show and find out!
Two things I’ve learned over the years that will allow you to be in the top 80% of whatever it is you choose to do. They are VERY simple to do. It comes down to showing up and practice (i.e. see Allen Iverson’s Practice Rant above)
First, it’s showing up. Today, most people don’t do something because they perceive it’s hard or “they don’t feel like it.” No one wants to show up all the time. You have to act in spite of how you feel. Sounds simple? It’s hard in practice.
Second, practice may not make perfect, but you will improve. I started running in 2017 after Thanksgiving. I never ran more than five miles ever. It’s not fun waking up at 4am several days of the week and early every single Saturday, while other people are sleeping and you could be too. Well I ran my first marathon, Chicago, in 3:40 minutes. It was much faster than I thought because my training was consistent and tough. I put in the miles and results paid off. The same thing happened in the my next marathons. In February I ran a 3:20 marathon, five months after my first one.
The same thing is when I first started coaching and doing workshops (like team building). You get better more you do. Sure, there are other factors that can significantly increase your growth, effectiveness, and success.
You learn more with every engagement and every time you do additional research.
You improve (even a tiny bit) each time you do something. Improvement is about very small changes over time (you think of that as a formula: Improvement = frequency x tiny changes
Marathon runner who’s been running for 10 years is probably better than someone running their first marathon. A seasoned business professional (CEO, CFO, CHRO) is probably better than someone in their first year working.
Great performers many times make it look easy. But they do because of endless, consistent practice.
Practice will make you much better than you were before. You may never be a master, a professional runner or New York Times Best Selling Author.
Practice and showing up really works. It will get you 80% of the way there.
Segment 1: Tony Richards discusses the fear of being wrong with producer Bill Foster.
01:00 – Welcome to Better Than Before
03:30 – Fear of Being Wrong
Segment 2: Jason Treu, Executive Coach and Author, joins us as this week’s featured guest.
09:30 – Social Wealth
13:00 – Cards Against Mundanity
20:00 – Creating High-Performance Culture
23:30 – Leadership Blind spots
31:00 – Tony’s Lightning Leadership Questions
Segment 3: Leadership Lesson: How to Get Promoted
35:30 – Manager Response
40:00 – Path to Promotion In any organization, whatever we are doing is about the relationships that we have both internally and externally. The challenge is, people just don’t know how to build these relationships. – @jasontreu… Click To Tweet
About the Guest
Jason Treu is an executive coach who helps executives, managers, and employees to maximize their leadership and management potential. He provides coaching, workshops, and speaking services. He is the best-selling author of Social Wealth, the how-to-guide on building extraordinary business relationships.
He was a featured speaker at 2017 TEDxWilmington for his talk on, “How to Get CoWorkers to Like Each Other.” His employee engagement and team building game, Cards Against Mundanity, has been played by more than 12000+ employees to increase performance and teamwork.