Retention is often thought of as a leadership issue, with the responsibility falling on managers and executives to keep their team members engaged and committed to the organisation. However, retention is much more than just a leadership issue – it is a company-wide concern that requires the involvement and collaboration of all levels of the organisation.
Third, retention is also influenced by the quality of the work experience. Employees are more likely to stay with an organisation if they feel that their work is meaningful and they have opportunities for growth and development. Ensuring that employees have challenging and rewarding work is the responsibility of all team members, not just leaders.
There are several reasons why retention is more than just a leadership issue.
First, retention is closely tied to employee engagement. Engaged employees are more likely to stay with an organisation and be productive, while disengaged employees are more likely to leave and be less productive. Therefore, it is important for all team members, not just leaders, to be proactive in promoting engagement within their teams.
Second, retention is influenced by the overall culture and work environment of an organisation. A positive and supportive culture that values diversity, inclusivity, and work-life balance can go a long way in promoting retention. This means that creating a culture of retention is not just the responsibility of leaders, but of all employees.
Third, retention is also influenced by the quality of the work experience. Employees are more likely to stay with an organisation if they feel that their work is meaningful and they have opportunities for growth and development. Ensuring that employees have challenging and rewarding work is the responsibility of all team members, not just leaders.
Finally, retention is a financial concern for organisations. High employee turnover can be costly, with estimates ranging from tens of thousands to hundreds of thousands of dollars per employee. Therefore, retention should be a concern for all employees, not just leaders, as it impacts the financial health and stability of the organisation.
In conclusion, retention is more than just a leadership issue – it requires the involvement and collaboration of all levels of the organisation. Promoting retention requires creating a positive and supportive culture, providing meaningful work and opportunities for growth and development, and being proactive in promoting employee engagement.
References:
"The Cost of Turnover" by the Society for Human Resource Management: https://www.shrm.org/resourcesandtools/tools-and-samples/hr-qa/pages/thecostofturnover.aspx
"The Business Case for Employee Engagement" by Forbes: https://www.forbes.com/sites/forbesbusinesscouncil/2019/03/01/the-business-case-for-employee-engagement/?sh=7a664d5b5b09
"Why Culture Is Key to Employee Retention" by Inc.: https://www.inc.com/lolly-daskal/why-culture-is-key-to-employee-retention.html
