Did you know... 3.5 million Americans quit their job every day, according to LinkedIn's 2019 Workforce Learning Report?
Regrettable turnover is costly to the business and damaging to the workplace culture.
The relationship employees have with their leadership is one of the most important factors to keeping them committed to their jobs and the organizations where they work. Leaders can't afford to overlook this fact.
Three things you can do today to start fostering improved loyalty by your team members are:
Feeling valued, both as individuals and as employees, helps keep top talent in place.
How do you show your employees you value them?
Don't know how to do that and need some help figuring it out?
Click the button below to sign up today for our free one-hour Masterclass and learn how to become the type of leaders that inspires your team members in your business unit. In there, we’ll review some of the concepts you need to help elevate your business unit to the next level of success.
It’s a new day, and Resilience Coaching is now a must-have for front-line healthcare leaders. Why? Because now more than ever, healthcare teams are experiencing high levels of stress and burnout, resulting in turnover and inconsistencies in service delivery.
Front-line leaders are the direct line of support and guidance to those who provide direct care. As the creators of the workplace culture, your leaders’ Resilience, Emotional Intelligence, and soft skills sizably impact the team’s effectiveness. The level of engagement- or disengagement- they create on the team affects productivity, turnover, customer satisfaction/loyalty, and business growth.
So why isn’t leadership coaching a key element at more healthcare organizations? Great question. It’s largely due to the perception that coaching is either too costly or too time consuming. When in fact, there is huge ROI for leadership coaching, both financially and in terms of time efficiency. Here’s why:
The good news is that coaching for front-line leaders is an accessible, cost-effective means of improving what matters most: the care received by patients at your facility.
Create a support system for your front-line healthcare leadership team that extends far beyond what currently exists in your healthcare organization. Secure a coaching service that utilizes contemporary, robust, evidence-based practices aimed at enhancing their Resilience and Leadership abilities. Boost the quality of your team’s performance by investing in Resilient Leadership Coaching.
Want to learn more about how to save time and money by closing the revolving door of turnover and intentionally enabling exceptional service delivery from your healthcare teams? Click the button below to join this free Masterclass for actionable items healthcare leaders can start using today to impact positive change in their service areas.
Why Does Turnover Happen?
According to LinkedIn’s 2019 Workforce Learning Report, 3.5 million Americans quit their jobs every day. That staggering statistic deserves the attention of leaders far and wide. The fact is: regrettable turnover has far-reaching negative impacts on the organization.
What is regrettable turnover?
Regrettable turnover is when an employee chooses to leave the organization, and it has a negative impact on the team.
How does regrettable turnover affect the organization?
There is a growing body of knowledge on the causes and effects of regrettable turnover and leaders can’t afford to turn a blind eye to it. Why? Because often times, it’s your high performers that leave first, creating a negative domino effect. Your remaining team members are left to shoulder a heavier workload and increased responsibility, hindering their ability or desire to perform to their potential. Your workplace culture suffers, which negatively affects the customer experience because the quality of your business outcomes decreases. If your customers aren’t happy, they will stop doing business with you, resulting in decreased brand loyalty, dwindling revenue, and poor reviews. Eventually, your bottom line is impacted and your certainty in the future of your business becomes uncertain.
What causes regrettable turnover?
There are a few factors that cause regrettable turnover, most of which deal with the work environment and the people within it.
Team members must work in an environment where they feel safe to speak up when they experience an issue or find better ways of doing something. They must also feel comfortable being themselves and sharing their great ideas.
There is a term for this type of safety. It’s called Psychological Safety.
A work environment that lacks psychological safety is one where team members feel their ideas are belittled. Where they are punished or embarrassed for being themselves. Where they are bullied by the people they work with and they’re made to feel inferior. A work environment lacking in Psychological Safety causes team members to grow increasingly disengaged and eventually, they will leave the organization all together.
It is up to the leaders of the organization to ensure the work environment is one that brings out the best in each team member. One that values them as the assets they are to the organization and all of the unique talents they bring to the table. Leaders can do that by ensuring the work culture is one that fosters Psychological Safety.
How to nurture an environment rich in Psychological Safety
Being a strong leader is so much bigger than knowing how to “manage” employees. It means having the skills to navigate tough discussions, provide feedback, and support positive interpersonal dynamics among team members. It means recognizing people's strengths and leveraging them so your team (and your business) shines. It means recognizing incivility and bullying and putting a stop to it once and for all.
There are plenty of leadership books out there, many of which contain outdated leadership coaching models. They lack the advancements that have been made in the knowledge base of effective leadership over the years. But even if you do grab yourself a book with contemporary leadership practices, you still need support as you work to upgrade your leadership skills, which is no easy task.
Your best bet is to team up with a coach whose expertise is to develop a leader’s ability to inspire teams to produce exceptional business outcomes. A coach who knows how to help you inspire psychological safety in your business unit.
You can’t learn that from a book alone. You learn it from talking through the real situations you're experiencing while gaining the knowledge and skills in real time.
Stop letting your teams and customers suffer from the effects of turnover and poor performance. Do something today to make positive change in your workplace culture and stop the bleed of regrettable turnover.
Click the button below to sign up for our free Masterclass and learn how to stop wasting your valuable time and hard-earned money on turnover in your organization today. Raise your game as a leader!
Why Leadership Matters
When people move into a leadership role, usually it's because they're very good at the work they do and not because of their leadership ability. Suddenly, they find themselves in a situation where they're in charge of a team that is quietly deciding whether you are someone they trust and respect. As we might expect, that comes with its own unique set of caveats.
The Leader is Always on Stage
As the leader, the team’s eyes are always on you. The way you handle yourself impacts the level of respect your team has for you, as well as the level of commitment they feel for their jobs and to the organization overall. The decisions you make, the way you speak to people, the intentions that show through in your interactions with others, all of that is constantly being observed and subconsciously judged by the people you manage. If employees don’t feel valued by their leader, if they don’t feel like they are given opportunities to develop their career, if they don’t trust or respect you as their leader, they will find other opportunities and they will leave.
Leadership Impacts Turnover
Turnover is costly both financially and psychologically for the business. It costs organizations approximately 33% of the employee’s annual salary between exiting and covering the lost employee’s responsibilities, hiring/onboarding a new employee plus the low-performance time as the new hire ramps up in their training. Meanwhile, the long-lasting negative effects on the workplace culture become new barriers to overcome.
The Problem with Learning Leadership Skills from Books
There is a lot riding on your shoulders as a leader, and there are tons of books out there with sometimes conflicting (and a lot of times, outdated) information on what is the right and wrong thing to do.
You can read those on your own and try to find your own path, but that will take precious time and energy on your part, and it could potentially cost you losing your best team members in the process.
That turnover is going to have a negative impact on your confidence as a leader, and on your remaining team members who are potentially growing weary of carrying more responsibility on their shoulders as more and more team members leave the company.
All of that is besides the tremendous financial repercussions that turnover has on the business.
What Smart Leaders Know
Smart leaders know that pairing quality with efficiency is key. You can spend your time navigating the “trial and error” path yourself by reading leadership books and trying to apply that knowledge yourself, or you can team up with experienced coaches that will help illuminate your path to success. The path that teaches you exactly how to inspire your team members to do their best work. The path that nourishes the commitment they have to you as the leader, and to the success of the business. That path that keeps your high performers in place, saving the business time, money, and a lot of unnecessary angst.
We always say... it's lonely at the top. But you don't have to sit up there alone.
At MindEye, we've put in 20+ years of time learning what works and putting those solutions into practice. Accelerate your leadership success by clicking the button below to sign up today for our free Masterclass!
You have nothing to lose and everything to gain.
Your employees are the most valuable asset you have in your business. They are what will make your business sink or swim, because your brand and your customers’ (and potential customers’) perception of your business rests entirely upon the shoulders of the employees that carry out the services for them.
Whether or not your employees are performing to their maximum potential has everything to do with the culture that exists in your business.
Here are 4 telltale signs that your business culture needs some TLC:
1. You have a turnover problem
2. Team performance is sub par
3. Business outcomes are missing the mark
4. Your employees aren’t committed to the success of the business
If you have one or more of these problems in your business, you’re not alone. There are many, many leaders out where scratching their heads trying to figure out how to correct these issues. Far too often, they tighten the reins and further exert their authority, thinking that will fix the problems. But a lot of times, that makes it worse.
What you need is a new strategy with your team. One that is creative and sometimes counterintuitive if you're used to managing instead of leading. It involves shifting around the controls a bit to change the dynamic. When you do that, you better position yourself to change the culture in your organization as well as the outcomes you’re getting from your teams.
It all comes down to making a shift from managing to leading. Leaders inspire their teams to do their very best work. Leaders have employees WANTING to collaborate with them. Leaders know how to coach their employees and bring out the best in them. Leaders know how to recognize the awesomeness that each team member brings to the table and know how to leverage it. Managers, on the other hand, spend the majority of their time dealing with performance issues due to conflict and disengagement with their team members.
Do these 4 telltale signs resonate with you in your business? Right now, we are giving away a free Masterclass, jam packed with actionable strategies you can implement today to make positive change in the work culture of your business. Make the shift from managing to leading. Register for the free Masterclass by clicking on the button below.
See you there!