As a manager, your people are by far your most valuable resource so retaining them should always be among your top priorities. Besides just generally being a waste of your valuable time, research indicates it costs around $30,000 to replace one employee. So how do you retain the best people on your team or is their decision to leave something beyond your control? Here are five techniques that great managers use to keep their best people on board.
How well do the people on your team get along? Do they trust each other? Do they respect and value one another? Now reflect on the impact the quality of your team relationships has on the performance of your business. How well are you able to leverage the full potential of your people because they work with a spirit of cooperation? To what extent are you tapping into the diverse perspectives, skills and experience of your team because people collaborate well?
It's been a tough week. The project you've been putting extra time into has fallen through and your manager hasn't provided the support you are looking for.
Then, you see it: the office stapler. It's unguarded - no one would know if it disappeared - and there are plenty more in the store cupboard. The question is, in that week when you feel your boss owes you, do you steal the stapler?
"When it comes to ethics, we think it's a test of our moral identity, which makes us more emotional."