8 Ways To Make Your Company Sticky
As I sat in the passenger seat of Debbie’s car, she gave me a tour of the beloved Ft. Worth children’s hospital she had worked at for the past 43 years. She spoke with love and respect about what she had helped build over that time. She reminisced about the two small buildings they had started in all those years ago and pointed to the numerous blue-topped roofs and sprawling grounds they decorated with adorable, welcoming-to-children topiary landscaping. We saw the Ronald McDonald House and the staff childcare center, as well as the numerous areas for reflection and relaxation for those suffering a physical setback. She talked about how the pandemic trauma of the last two years had impacted the culture they had built and even threatened to crumble it.
Regardless, as we pulled into the parking garage, she greeted the parking attendant warmly and asked how he was feeling, saying to me, that he had just recovered from surgery. As we strolled the brightly colored hallways, Debbie chatted and hugged her way across the campus. She would quickly point out those individuals who had been with the hospital for decades and were so dedicated to the cause of helping children heal that they wouldn’t think of leaving until retirement. During this tour, I fell in love with this new hospital client of ours and told Debbie how inspired I was to be a part of their purpose on this planet.
The whole experience was remarkable and seeing so many long-term employees reminded me of another group I had worked with the week before who had recently been acquired by one of my clients. During our joint company strategic planning session, we were discussing the “talent war,” and we all listened intently as two of the owners of the acquired company talked about the team that became family over the years. They had started at the age of 16 working in the lumber business and were set to retire from that same company in the next 5 or so years. They talked about others in the business who grew up together, got through school, enjoyed fishing trips as a team, went to one another’s weddings, and celebrated when they had children. We are talking retention of 31…28…19 years, which are unbelievable numbers in today’s world.
So how is this possible and do we have any chance of recreating this in today’s job market? Some will say “No way, today’s workforce isn’t nearly as loyal, and it is not realistic.” But is that true? Or can we at least aim to be a significant part of an employee’s work history? I believe we can.
Develop a Great Retention Initiative
Many employers are no doubt wishing that the Great Resignation, where employees have been quitting their jobs in record numbers since the Spring of 2021, would suddenly become a very different trend: the Great Retention. But research suggests that many workers remain confident about their prospects in the current hiring market, in fact, 41% of respondents are currently looking or plan to look for a new role in the next six months. This means employers must still be vigilant about the risk of top performers walking out the door.
This, in my opinion, is the number one issue, outside of finding talent, for companies today. Every single coaching or consulting conversation I have includes the current challenges with talent. And it’s not getting better anytime soon. We have to look at those companies who are doing it well, come up with creative strategies, and listen to what our most-valued employees are telling us. Based on research and my own anecdotal evidence there are 8 areas that I believe you need to focus on as a leader to retain your talent. I hope these resonate with you and inspire you to work on at least one of these:
1. Create and Support an Inclusive “Family” Culture
Having a “sticky” culture where people take care of one another and truly care is crucial. Through the years that is one common thread in companies I have seen be successful in keeping their employees long-term…they are one another’s work family and it would be unthinkable to leave that family. Now with that kind of vulnerability, you must make sure there are good boundaries in place so there is no “family dysfunction”, but essentially these teams support one another through the good times and the bad.
2. Find Each Team Member’s Motivation ‘Lever’
“Money” is not the reason people stay in a job. It can be demotivating if they are paid unfairly but thinking about throwing money at an employee who is thinking of leaving is the wrong strategy. Every person has his or her levers of engagement and motivation: Fun. Authority. Development. Responsibility. Autonomy. Respect. Recognition. Challenge. Variety. Figure out what each individual needs, then figure out how to best work towards it. Meeting those individuals where they are is one of the best things you can do as a leader.
3. Emphasize Shared Non-Negotiable Core Values
From the beginning, recruit people whose values align with yours and the company. This builds a positive atmosphere and culture, which resonates with people and keeps them on board. Consult with your people, find out what they care about, and build collaborative solutions that inspire their loyalty and commitment. People like to feel included, and valued and that their contribution makes a difference. The great thing about this is that if there is a value mismatch the team will pick it up instantly and advocate to keep the shared values on track.
4. Rally Everyone Behind an Emotionally Driven Purpose
Most employees want to feel part of something bigger and to be proud of it. In addition to rewards and positive feedback, leaders can inspire others by consistently and regularly communicating a clear purpose that people connect with emotionally. It is easy to get mired in the day-to-day details; step back and connect those details to a broader vision. This means embedding it in your everyday work not just from a “marketing” perspective (posted on your website), but in daily conversations as evidence of working towards that incredibly important purpose beyond making money.
5. Change Old-School Thinking Against Flexibility and Track Results Instead
In 2022, people value flexibility more than ever. If someone is in a role that can be effectively carried out through flexible work, then offer this. Not only is this hugely rewarding for employees, but it also gives them a sense of comfort, knowing that you trust them to carry out their role effectively and manage their own time. And don’t automatically assume the younger generation will take advantage of it. Depending on what stage of life and career people are in will determine how much or how little structure or time in the office they will need or want. Track results, not “butts in chairs”.
6. Get Everyone Directly Involved in The Company
Money is the result of successful work and not a sustainable source of motivation. Other important forms of compensation include having fun, working on something great, recognizing and appreciating colleagues, and the feeling of having achieved something challenging. Coming from this mindset, rather than just exchanging their time for money, the culture should encourage an “owners’ mindset” in the employees. The employees can then be a part of building something inspiring that they can be incredibly proud of.
7. Recognize Your Team Member’s Humanity
The most meaningful way to recognize employees amidst all the difficulties we are facing in the current challenging business and social environment is to first and foremost recognize their humanity. Know the individuals on your team and recognize each employee’s unique challenges as the year unfolds. Command and control are out. Prioritize time, space, and opportunity for them to thrive and reach their goals by guiding their growth and investing in them. Compassion is one of the most overlooked leadership traits to leverage, especially after a couple of tough years.
8. Share What Each Employees Role in Your Vision for The Future Is
Inspire people to want to work with you and each other by sharing your vision and their role in it. You might be working your way through current challenges, but your eyes are on the future. Tell them about three indicators informing your vision for the future and why those give you confidence. Assure your people that they are building the foundation for a future in which all of them play a part. Be honest, specific, visionary, and hopeful. People love making a difference and being a part of something big.
The list above is near and dear to my own heart. The two that were highlighted by the clients I was working with the last two weeks were knowing one another on a personal level and ensuring people understood how relevant their contribution was to the success of the organization. This aligns nicely with Patrick Lencioni’s work on employee engagement. I would hope that you might look at the above list and rank yourself from 1 to 5 on each. Then ask yourself which one you might need to work on from now till the end of the year. If you are diligent in working on it, it will pay off…I promise! If you need more resources, please let us know, and, as always, best wishes in your leadership journey!