Few business leaders or organisations fully comprehend the cost of employee turnover. When Bill Gates, the founder of Microsoft, was interviewed on issues bordering on his organisational strategies, he was quoted as saying that: “If you take the top 20 employees away from Microsoft, our company is worth nothing”.

To stay competitive and ahead of the pack, leading-edge leaders must understand that their organisation’s most prized asset is not essentially the building (or any other material asset). An organisation’s most priceless possession is the sum total of its employee’s know-how; what can be called organizational wisdom.To stay competitive and ahead of the pack, leading-edge leaders must understand that their organisation’s most prized asset is not essentially the building (or any other material asset). An organisation’s most priceless possession is the sum total of its employee’s know-how; what can be called organizational wisdom.

When talents depart, they go away with the company’s lifeblood: ideas, job-specific procedures, information, contacts, and possibly computer log-ins, passwords or online storage locations. The really bad news, however, is that they may take these gems to the competition.

It is therefore a crucial business strategy to tame the tide of employee turnover. A good place to start is to understand why talents quit their jobs.

Here’s what people said attracts them to an organisation and what would cause them to leave.

Adapted from Top Five Global Drivers of Attraction, Retention and Sustainable Engagement

Towers Watson 2012 Global Workforce Study at a Glance

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Wondering where to get started in addressing some of these factors in your organisation? Start with these four areas:

4 Common Mistakes to Avoid in Talent Management

1. Poor Financial Motivation:

Times are tough and jobs are scarce; but Capacity never lacks opportunity. It cannot remain undiscovered because it is sought by too many who are anxious to use it. It is risky to assume that talents will stay because they have no choice. #Be creative in devising ways to incentivise your best hands.

2. Poor Employee Development Scheme:

: It takes almost 90 days for a new employee to fit in and learn the job. [Hiring isn’t always the best answer.] If someone is good at what they do and they are producing results, then you need to hold onto them rather than letting go to competitors or other companies. # Win your employees’ trust; Prove to them that you value them. Invest in their future by developing them.

3. A Toxic Culture:

Workplace incivility is costlier than you can afford. Whether it’s yelling, using foul language, or an environment of intimidation; understand that all the money in the world will make not talents stay long in a toxic workplace. Incivility will cause distrust, loss of productivity, and eventual turnover of employees. #Promote a courteous culture.

4. Ignorance of organisational Pulse:

Do you know what is important to your employees? Are you in touch with their personal and career goals? It may sound lofty, but no matter how big an organisation is, it is not only possible to know the heart beat of your employees; it is crucial to do so. #Creating systems that enable employees express their minds freely will keep you one step ahead of unpleasant surprises.

While hiring new hands to replace old ones remains a good remedy for turnover; staff retention will always represent one of the best competitive advantages your organization can have in the marketplace today.

@Marcforte’s

Relationship Management & Business Etiquette Programme Held @ Ibadan & Abuja

Body Language: The Silent Power of a Posture

Few weeks ago, the social media was abuzz with discussions of the posture of Mrs. Remi Sonaiya, the presidential candidate of KOWA party as she gave a book to President Jonathan at the 2015 NEDG presidential debate. Opinions were divided on what her pose meant.

To some, her posture suggested courtesy and basic respect for the office of the President. To others, the posture was subservient and unbecoming for someone who was aspiring to assume the helms of power.

While Mrs. Soniaya’s response may or may not have satisfied those who found the posture displeasing; one thing it does, however, is that it drives home the point that your body language determines how people perceive you.

When dealing with the business world or the world of politics, it’s especially important that you’re aware of your body language. Your non-verbal cues and gestures may have a significant impact on your success.

Be mindful of how the following power poses affect your Executive Presence:

1. Eye Contact : A failure to make eye contact when speaking with others is usually interpreted as timidity, intimidation or deception. The ability to hold the gaze of another while speaking denotes authority, confidence, and presence. When dealing with senior colleagues, however, avoid looking directing into their eyes for long minutes. Break off to the left or to the right for a few seconds. Don’t look down, this suggests insecurity.

2. The Power Handshake Your handshake should be firm, but not overbearing. The secret to a great handshake is palm-to-palm contact. You want to slide your hand down into the web of theirs, and make palm-to-palm contact. Lock thumbs, and apply an equal amount of pressure.

3. Fidgeting and “big” hand movements In business, small gestures tend to demonstrate the biggest points. Powerful business people tend to use smaller, more subtle hand gestures to demonstrate their point with authority. Big hand gestures or fidgeting with your hands, phone, or hair demonstrates weakness and a lack of confidence.

Final words:

To most managers, the issue of employee turnover has remained a toothache that defies solution. But to Dr. S.O Oloruntoba, the Chief Medical Officer of Ola-Olu Hospital Ilorin, Nigeria, the concept is alien.

Next month, we’ll present you with the secrets of an employer that has succeeded in keeping three of his best hands for over 40 years!

Until then, remember that your people are your most valuable assets. Treat them accordingly.

Best regards,

Modupe Marc-Dawodu.