[HBR] How to reduce your staff turnover by 79% (easier than you think!)
Has your boss ever given you a compliment that you knew was not sincere?
Maybe it was an awkward social situation where they felt pressure to say something nice about you. Or maybe it was a thinly veiled attempt to get you to do even more at work.
Maybe you felt a bit insulted as the compliment was really about your boss, not about you.
Whatever the reason, the compliment fell flat.
Unfortunately, this scenario is all too familiar.
A recent article in HBR highlights the power and importance of sincere, employee-focused appreciation in creating a highly motivated team. One study found that “lack of appreciation” is a key reason that 79% of responders quit their jobs.
Did you catch that?
About 8 out of 10 people who quit their jobs cite a lack of appreciation as a major reason for their departure.
Team leaders who do not know how to show genuine appreciation for their team members will find themselves with an unmotivated -- if not vanishing -- workforce.
So how do you change that?
You learn the art of sharing effective, authentic appreciation with your colleagues.
Then you measure the impact of your efforts using the “Need to Nurture” scale on our 360 Report.
Nurturing is defined as, “helping a person develop and be successful.” This suggests behaviors that help your colleagues do everything they can do and become everything they can be.
Real, authentic appreciation is a powerful nurturing behavior that not only motivates your team members, but it also creates team engagement -- the #1 defense against team turnover.
So the question is: how are your team members experiencing you?
The Need to Nurture scale on our 360 Report provides scientifically validated data on how well you are nurturing those around you.
The tool doesn’t measure whether you care for people or not. Hopefully, you care a whole lot.
Rather, it measures how much you express that care in a way that your team members actually recognize and feel.
How can you eliminate most of your team turnover and mitigate the flight risk of your high-potential team members?
Show genuine appreciation for your team members.
Then, collect behavioral data to verify that you’re doing it effectively.
Learn from the data and additional input from your colleagues.
Our proprietary 360-degree assessment is scientifically validated. It creates a detailed view of a team leader’s strengths and constraints by measuring the 13 most critical leadership behaviors and comparing them to our database of the world’s best managers.