Leadership: Half Of Your Company Is Looking To Leave: Four Retention Strategies To Keep Your Best…50% See their Current Job as a Placeholder

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Jobvite, a recruiting platform, just released its 2015 Job Seeker Nation Study, and results point to a renewed interest by the gainfully employed to look around for new opportunities. Jobvite’s survey of over 2,000 employed adults revealed:

45% of job seekers are satisfied in their job, but looking for a new one; 50% see their current job as a placeholder; and 60% are equally or more optimistic about job prospects this year compared to last year.

 

 

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I interviewed Dan Finnigan, CEO of Jobvite, about his reaction to the findings, advice for both employers and job seekers, and his story on how he became CEO of Jobvite. You can hear the 15-minute interview with Dan Finnigan HERE. In the meantime, if you are a manager and don’t want half of your team to leave, here are four retention strategies to keep your best:

Involvement

I once coached a rising star who was managing a team of managers for the first time. She was great at ensuring her direct reports knew their performance goals but she didn’t involve them in the broader vision and goals of the company so that they could then galvanize their own teams. Not only did she have to manage her team’s individual contributions (which she did well) but she needed to support them as managers and leaders in their own right. How enrolled is your team in the goals of their department and the overall company? Do they understand how their individual activities contribute directly or ripple through? Are they galvanized and informed enough to involve and enroll others? Employees who are involved in the bigger picture will be more invested in staying.

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Autonomy

This same manager was so strong technically that she knew her approaches were most efficient and shared that loud and clear. While she could do everyone else’s job more efficiently and effectively than they could, it wasn’t her job anymore. She needed to allow her team to find their own best approach. Do you give your staff the autonomy to make decisions, execute against their goals, and experiment? Employees who are given autonomy feel respected and invited to stay.

Equity

I don’t mean stock shares, though the Jobvite study also pointed out that compensation was the leading decision factor in taking a new job. Yes, pay your employees their market value – your team will definitely appreciate if you go to bat for them during raise and bonus allocation time. Even more importantly, be equitable and fair in how you make raise, bonus, promotion and assignment decisions. Employees who see they have a fair shake at advancing won’t feel the need to leave to get ahead.

Introductions

The best employees want to continually learn and grow. One area where you can help is to make introductions to broaden your staff’s network. It’s hard to know who to meet and how to make that contact, so broker these introductions for your team. Find out what areas of the company they’re interested in. Find out who else outside your group is involved in promotion decisions. Help your staff get an audience with these key players. It will be much appreciated by your team, and it will also help you expand your network throughout the company.
Even if you offer a great opportunity, culture and environment, good people may still leave. In that case, stay in touch! Former employees should be a welcome part of your network. One of my strongest direct reports left my group for a promotion at a competing firm. I helped her with that search because I knew my employer at the time wouldn’t move as quickly as this strong performer deserved. We’re still in touch today, and when I started my company, she was one of the first people who hired me. Former employees are future customers, information leads, or professional and personal allies. Do your best to retain but keep the relationship warm even if they leave.

Caroline Ceniza-Levine is a career and business coach with SixFigureStart®. She has worked with executives from Amazon, American Express, Condé Nast, Gilt, Goldman Sachs, Google, McKinsey, and other leading firms. Follow Caroline’s weekly leadership column on Forbes and take advantage of SixFigureStart® free toolkits on Negotiation, Networking, and Personal Branding, including a free download for entrepreneurs.