A blog from Forbes suggested that the reason highly paid executives leave their jobs boils down one main thing; bad management!
Having researched this extensively and trained managers around the world, we have seen the positive and negative sides of the power of management/leadership. Success truly can be achieved through good management conversely damage can be caused by bad. Companies who support and train their managers have seen reduced attrition rates, higher levels of engagement and increased productivity – the tangible effect should never be underestimated for example direct line management communication has over 60% impact on an employees behaviour/performance (Melcrum).
The Forbes blog suggested that if you want to keep your best people:
1) Create an organisation where those who manage others are hired for their ability to manage well; are supported to get even better and are held accountable and rewarded for doing so (for example giving them a Chartered qualification in recognition of their development as leaders).
2) Be clear about what you’re trying to accomplish as an organisation – not only in terms of financial goals but in a more three-dimensional way. What’s your purpose/what do you aspire to bring to the world? What kind of a culture do you want to create in order to do that/What will the organisation look, feel and sound like if you’re embodying that mission and culture? How will you measure success? Once you’ve clarified your hopes for the future, consistently focus on; keeping that vision at the top of everyone’s minds and working together to achieve it.
Ensuring your management team are managing well will not only help retain your top talent but all the talent in your organisation, as well as creating a thriving working environment.