After months of searching, Mark found the right person to be the operations manager for his pharmaceutical processing facility. Andrew had the right mix of experience, communication skills, and ability to think out of the box.
Within weeks, Andrew was suggesting minor changes which had a huge impact on productivity.
Mark was hopeful Andrew would get the staff motivated and continue to make valuable suggestions on ways to improve the processes at the facility.
He found the guy who would do the job – maybe even do it better than he could.
Imagine Mark’s shock when Andrew handed him his resignation ten months later. He hadn’t seen it coming.
It’s Not Cheap to Hire Someone
While it’s hard to pin down exact figures, it is estimated to cost $20,000 to $30,000 in recruiting and training expenses for a manager making $40,000.
No small chunk of change.
A study by SAP and Oxford Economics showed that one in five high performers are likely to leave their jobs within the next six months. Less than half are satisfied with their jobs.
Reasons Top Performers Leave
So how do you keep your top performers? According to George Dickson at Bonusly, these are the top 5 ways to do this:
- Meet their expectations. The typical menu of competitive benefits and rewards may not be the strongest driving factor in keeping top performers. Talk with them to understand their priorities.
- Make them feel valued. Your top performers are likely more productive – and you may expect more of them. Recognition needs to be frequent, tied to specific actions, and culturally aligned to be meaningful.
- They’re not as engaged as you think they are. Even top performers can have bad morale. You must keep them focused on opportunities for inclusion and growth.
- Opportunities are limited at work. Department managers tend to be selfish. If there is a star performer, however, they must see opportunity to grow within the organization. And the company should not miss out on the chance to cultivate good talent.
- Higher productivity goes unnoticed. According to the Harvard Business Review, top performers can deliver 400 percent more productivity than average performers.Whoa…. That’s a lot of productivity. And for one person. Do you recognize what they are really contributing? Or do you turn a blind eye because the work is getting done?
To read the other 15 actions you need to take to keep your top performers, read the rest of the article here.
If your top performers are dissatisfied with their job – what type of impression are they leaving on the rest of staff? And on your customer?
Attitude of staff affects everyone in your organization. Make sure you are doing all you can to keep your employees, especially your top performers, motivated and engaged.
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