Why talent walks out the door

Here are four good starting points for distributors that want to keep their top talent and slow or even stop their revolving employment doors:. With the steady expansion of the global job market—and with the national unemployment rate not promising to jump up anytime soon—electrical distributors no longer have the upper hand when it comes to employee retention.

Don't miss a thing! Get the latest industry news delivered straight to your inbox, every Tuesday through Friday. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Toggle navigation. Here are four good starting points for distributors that want to keep their top talent and slow or even stop their revolving employment doors: Talk to your employees regularly about their development and learning needs and desires.

Even a small flight of out-of-the-box thinkers or managers who prompt the best work from employees can take considerable time and expense to replace. Some executives try to stop exiting high performers with offers of more pay or promotions. But others react defensively, telling themselves that whoever is leaving wasn't a big loss.

Many veterans left as well. The reason: The company was undergoing changes that top executives "didn't sell well to employees," says Mr. Instead of asking employees to help, "they said everything they'd done in the past was rubbish and stirred a lot of insecurity. Rather than deny a talent bleed, executives should carefully analyze why it is happening.

Carl Bass, CEO of software maker Autodesk, has found that employees are most likely to accept offers elsewhere if they don't think they are being challenged to grow.

Most frequently, they leave if they don't get along with their boss. The more you communicate, the more your talent understands the rules, the more likely they are to engage and the more likely they are to walk out the door. When employees understand the rules, when they know what it takes to be successful, when they feel empowered to own their career development, and they know what to expect from you as a leader, they realize they are in a unique environment.

One that cares about them, one that is willing to invest in them, and one where they can continually grow and develop. Ready to see an example of a great set of rules of engagement? Send me an email, mere valuespeaker. No doubt, these are challenging times for any leader. But if you focus more time and energy on trying to understand your team members, invest in them, and caring about their future and their growth, they will spend more time and energy on investing in you and the growth of your credit union.

So, for all those employers who have everything under control , you better start re-evaluating. Human nature makes it very difficult to walk away from areas of passion. They are built to change and innovate. They NEED to contribute by putting their fingerprints on design. The best testament to the value of leadership is what happens in its absence — very little. If you fail to lead, your talent will seek leadership elsewhere. Failing to recognize the contributions of others is not only arrogant and disingenuous, but it's as also just as good as asking them to leave.