The modern-day workplace has evolved from the days of career-long tenure and a parting Rolex. Employees who feel burned out or undervalued don’t stick it out for the farewell party. Instead they keep their resumes updated and ready for sending.
If you are on the employer or management end of your business, you will recognize burnout in the forms of increased absenteeism and tardiness, decreased productivity, increased turnover rate and poor customer service. Perhaps nothing will be as telling as the loss of top talent. Allowing an employee who is an outstanding talent to feel burned out can be a costly mistake for any organization.
A study by the Workforce Institute at Kronos surveyed over 600 HR leaders. 95% said that burnout is sabotaging their employee retention. And 46% said that burnout accounted for up to half of their annual employee turnover.
It should be no surprise that “improving employee retention” was overwhelmingly viewed as a critical priority. But what is causing the burnout and dissatisfaction in the first place?
The top three reasons were unsatisfactory compensation, unreasonable workloads and excessive overtime. Add to that the unstated possibility that management didn’t check in regularly with employees to understand their feelings and needs, and you have the perfect set-up for a walk-out.
Even if employees don’t give their notice and leave altogether, organizations are losing them on a psychological level. Employees are becoming burned out due to lack of motivation and the perception of being treated like inanimate production machines.
Companies and organizations that recognize the value of top talent — and the detriment caused by the loss of them — need to pay attention to the big pay-off between the lines. If you are an employer or leader in your business, you will be the one responsible for making the mindshift that re-energizes and inspires your people.
Your responsibility isn’t to dole out a harsher list of micro-managed directives, but to create a culture that energizes your people and makes them want to work…and stay…there.
Here are some tips for inspiring your top talent when they appear burned out on the job:
- Use onboarding as your opportunity to create a lasting first impression. Make new hires feel comfortable and make the assimilation process personal and not overwhelming.
- Plan a course of growth toward success. Revisit compensation plans regularly and make sure you are paying your employees what they are worth.
- Inspire autonomy in the workplace. If you have hired good people, trust them to do their jobs, and allow their input and participation in decision-making, especially where their own futures are concerned.
- Focus on people, not numbers. Treat your people as assets, because that is what they are. Without them, you have no business. Take care of them, encourage them to take personal time and vacations, and above all, listen to them. Your numbers will reflect the culture you create. Remember, “numbers don’t drive people, people drive numbers.”
- Do-as-I-do. Be a model of the attitude and behavior you seek in your team. You are being watched for the tone you set, and if you are not setting an optimal example, you have no right to lord over employees who are making less and possibly working more than you.
- Be a true In addition to being watched as an example of attitude and behavior, you are also being watched for your competence, character, integrity, composure and ability to demonstrate compassion toward those under your charge.
- Put people in the right positions. Optimize your talent by letting people do what they do best. Not all employees are the same, so don’t treat them that way. Set people up to succeed and shine, then reinforce and reward them when they do.
Keeping your best talent is as simple and as essential as paying attention, listening, and understanding how that person is primed to excel. Be a good leader and expect great leadership from the other leaders in your organization.
Your role, no matter how much power and money you have, isn’t to micromanage and threaten, but to facilitate the expression of what makes great talent great in the first place. Having top talent on your team in a competitive market is a privilege. Treat it that way.
If you need help evaluating the culture of your organization and strategizing new ways to energize and inspire your top talent, reach out to us here now.