Have you ever left a job because of someone you worked with? Maybe even someone you worked for? It's a common experience that most of us can relate to. But did you know that high attrition rates can be detrimental to a business? That's where TMC Coaching comes in with their passion to lower attrition rates for their clients.
Attrition rate refers to the number of individuals leaving a company over a specific amount of time. High attrition rates can be an indication of something sinister happening in the company, such as employees leaving for better benefits, larger salaries or due to burn-out. However, it's also quite possible that a high percentage of employees leave because of another person, such as a co-worker, shift leader or even the owner.
According to John Maxwell's book, "Leadership Gold," people quit people, not companies. This means that people are more likely to leave their job because of their co-workers or managers rather than the company itself. So, what can business owners and leaders do to stop the cycle of high attrition rates?
First and foremost, they need to highly value each employee every day. Expressing appreciation and praise can go a long way in making employees feel valued and respected. Honesty is also key. Just like people generally quit in a relationship where their partner is untrustworthy, employees will leave a dishonest leader. Developing oneself every day is another way to retain staff. People want to follow a leader who is strong and competent. Finding ways to motivate and inspire employees is another effective way to retain staff. Employee of the month programs are a great way to do this.
Business owners and leaders should also be secure in their position. Empowering leaders to lead shifts can help reduce insecurity and encourage a sense of belonging. An insecure leader drives others away and is seen as seeking power, recognition, and position.
High attrition rates can be detrimental to a business and can have a negative impact on its customer base. By implementing measures to retain staff, business owners and leaders can create a more stable and secure work environment that benefits everyone. Look around - you probably have some good workers - now let them know it!
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