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Retention Leadership
Retention Leadership is the practice of
leading people and organizations with the explicit intent
of improving employee retention, building positive relationships
that contribute to reducing unwanted turnover, and encouraging
employees to be fully engaged in their work.
It is well documented that just over the horizon lies
a demographically-driven labor and skill shortage unlike
any seen before. Growth of the U.S. born workforce during
the last 20 years was 44%. For the next 20 years that
growth will drop to zero. In one of the most comprehensive
studies on the subject to date, The Aspen Institute's
Domestic Strategy Group summarizes it this way: Ignoring
the labor and skill shortages “will threaten our
productivity and growth, (and) our international competitiveness…The
combination of slowing labor force growth and slowing
skills growth looks particularly ominous.” Hanging
on to well-performing employees will reach a new level
of urgency for organizations of all types and sizes.
At the same time, it's now widely understood that leaders,
and the quality of the relationships they build with their
direct reports, are the key to why people stay and what
usually drives them away. It's also true that leadership
development consistently appears at the top of the strategy
list for organizations trying to remain successful and
competitive. Companies consistently invest more time,
energy and resources in developing present and future
leaders than nearly any other business and performance
improvement effort.
But here's the problem. The philosophies, principles,
beliefs, and teachings of leadership are largely based
on the availability of an ever-expanding and perpetually
better-educated talent pool. These dynamics may, quite
simply, no longer apply. It's time to look at leaders
and their development in a new light. As the competition
for talent heats up, leaders, and their skill in building
trusting relationships and retention-oriented climates,
will become critical.
Now is the time for Retention Leadership.
Leadership development must be tied to specific business
outcomes, and few business priorities will eclipse talent
retention in a world of disappearing workers. Leaders
need to be trained in retention skills and held accountable
for helping keep good employees. It's time for Retention
Leadership.
Register now to receive a copy of the T+D article Retention
Leadership and to receive future
research reports, white papers, and other information
on Retention Leadership, register here.
TalentKeepers
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