We always like to believe that when an employee jumps ship, it’s because they weren’t happy with their job. However, Eric Jackson, founder of the tech-focused hedge fund Ironfire Capital, says its actually the old adage “people quit their boss, not their job” that rings true.
So, rather than outline what can you, as a manager, do to retain your talent, HR Morning instead lists the top eight mistakes managers make that can send their employees running for the hills:
Upping the Work Quota: The economic downturn saw many companies asking employees to get by with less – which in many cases meant with less hands on deck. Since it was typically lower-level employees who were getting laid off, this means that your top talent was asked to take on work that was below their level. While this was initially touted as a temporary fix, months later, these employees are still overwhelmed with work. The quick fix? Managers need to be sure to revisit the work responsibilities of employees to ensure that their workload matches their talent and pay grade.
Micro-Managing: While poor performers tend to want – and need – constant attention and direction, your top performers want to be trusted to get their work done. Sure, it’s understandable that you would want to check in from time-to-time, but for the most part, if you leave them to do their job, they will!
Disappearing Act: While we’ve just scolded those micro-managing managers, some managers can be at the opposite end of the spectrum and far too hands off. The difference is being accessible to those that you manage so that they feel comfortable coming to you when needed.
Moving Parts: When it comes to personnel moves, be sure that managers are hiring people that are qualified for the role, rather than their friends. In order to avoid hurt feelings – or worse, a law suit – make sure that there is a process managers have to follow, or criteria employees have to meet, before people are promoted.
Career Building: Your top employees want to know that there is opportunity for growth within the company. In order to keep them motivated, make sure that managers are having career path conversations with their direct reports.
Meeting Up: Managers need to take the pulse of top employees when it comes to the types of meetings that they hold. Do employees dread coming to meetings? Are some employees constantly asking to be excused? Do some appear inattentive? Find out what your employees prefer and tailor your meetings accordingly.
Team Player: When it comes to managers, you need someone who will promote and defend the best interests of their team, not throw them under the bus if it all goes pear shaped!
Firm Focus: Almost as important as their own career path, employees are also concerned about the company’s trajectory. A good manager should be able to convey the company’s goals – particularly to top employees who are hoping to build a future with the firm.