February 25, 2014

How To Mitigate For Risk Before Your Talent Quits

How To Mitigate For Risk Before Your Talent Quits

“Don’t leave before you leave” Sheryl Sandberg famously said about women who plan their careers waaaaay too far in advance but how can companies mitigate for risk when their top talent might be about to jump ship? Here’s some top advice we’ve gleaned from Dave Levitt, VP of Worldwide Sales at LiquidFrameworks, that we apply at Endiem.

1. Open the conversation. And then listen closely
No one loves having awkward conversations but most people desire to be honest with their boss and co-workers. Talk to your employees about what they need, want and are looking for in their current and next role and find out how you can match those needs and wants. 60% of people leave because they don’t like their boss – mitigate risk of losing your talent by being the leader you would like to have if you were doing their job.

2. Provide recognition and rewards
People want to work in a challenging, rewarding and trusting environment. Provide them with that by taking advantage of their true personalities; give them a clear methodology or process to follow but reward people for sharing ideas that make your processes better, your company a more fun place to work or where they identify painless cost savings. Remember, not everyone’s reward is the same – some folks appreciate an extra day off or flexible Fridays while others prefer cold hard cash but all will be delighted to be recognized and praised for their great idea in front of their peers.

3. Treat everyone fairly (as opposed to equal)
It’s not always about the money. Help employees define their own view of success and do everything you can to help them get there. Set clear goals that meet company objectives; measure outputs and accomplishments; and set some small bite deliverables they can achieve even in a tough quarter.

Final Thoughts
Salesforce technology can easily help you to mitigate the risk of losing your data or expert knowledge if an employee leaves but since replacing that employee will cost at least 20% of their annual salary wouldn’t you rather keep them than let them leave for lack of attention? Contact us so that we can help you drive more business collaboratively, more efficiently and pain-free. Work Delivered.


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