How do you hang on to and grow a key person, investing in their growth without throwing money at them? Employee development and retention/engagement rank in the top four concerns of my 36 Vistage CEOs and key executives. There are dozens of ideas to support emerging leaders. Make sure they have the training they need both in the detail of their job and to develop the “soft” skills like leadership. Industry workshops, certifications, MBA or graduate programs and leadership development are just a few tools available. Maybe there is an association or a board they could become a member of, with company financial support in the form of dues or membership and time allotted for engagement. Give them genuine feedback and recognition in the style that fits their needs. My Take Flight with DISC training has taught me that much praise falls flat because it doesn’t match their primary personality style. For example, a general “great job” is not satisfactory to a detail-oriented person. They need to know why it was a great job. Let them solve their own problems. How can they ever develop if you micromanage, even passively? You are paying them to think. Ask for their input on a project or problem and then really listen. Make sure the work they are doing is meaningful, both to the company and to them. Think about what being a good “boss” means and work at that. The No. 1 reason employees leave is a “bad boss.” Is their workload appropriate, both in terms of overwork and under-utilization? Being short staffed can bring out the best in people stepping up, but it can also burn people out over an extended time. If you started with an employment agreement or position description/expectations when you hired them, take the time to review that plan to make sure you are both living up to it. Have you sat down and created a career path so both of you can see their potential, future opportunities and what is needed to get them there? Be aware of problem co-workers. Those bad apples will drive away the good ones. Do you offer reasonable flexibility in work hours and conditions? This pandemic has taught us a great deal about working remotely. Many recent studies indicate that your empathy for them and their life situations is vital. It is important to be sensitive to their stress levels in terms of projects, working shorthanded or even external, personal stress. Be on the lookout for burnout. Communication is critical. Do they clearly understand your vision, mission, goals, culture and have clear directions about how they play an integral role in all of those aspects – are they fully engaged? Are your meetings productive? There are key guidelines for successful meetings, especially in the age of virtual sessions. Meetings are important and need to be run effectively or your will lose key people. This not-necessarily-financial list of ways to keep top performers is virtually limitless. Use your imagination and live up to your role as a leader. There is a big difference between giving someone a raise and raising someone up! Chuck Alvey, a seasoned Vistage Chair, is a longtime Reno businessman and former CEO of the Economic Development Authority of Western Nevada. Go to sforce.co/3bx2mCz to learn more.
