Do you know who your next leaders are?
And do you have a strategy to retain them?
One of the biggest issues facing employers now is staff retention. We know we should be taking the time into developing employees who have shown potential and who could someday step up and be our next leaders.
We know we should have a career path in place for them to ensure they remain engaged.
We know we need to invest in their development.
However, with the fast paced, challenging and constantly changing economy we are now operating in leaders are incredible busy. They’re busy just keeping up and just keeping things going and often don’t have the time to think about the ‘what’s next’ for the business. Surviving the now is the biggest priority. What we know we should be doing often gets sacrificed until we get more time. And that doesn’t seem to happen.
The risk of this thinking is:
- Potential for an unengaged workforce
- The risk of losing great staff
- Productivity is negatively affected
- The bottom line suffers
- You effectively have a job rather than the business you dreamt of.
Staff turnover is a substantial cost to every business. The actual cost is estimated to be at least a person’s annual salary and with the average being 2.5 times annual salary. This is a huge impact to business and something that often isn’t quantified.
Recent research by Price Waterhouse Coopers (PWC) found Australia performed the worst of 11 developed countries when it came to staff leaving within 1 year, a staggering at 23%! So nearly 1 in 4 new employee’s leaves their job before their first 12 months is up! So if you’ve lost a great team member and your recruiting a new one, this statistic could be yours.
The cost of this turnover in Australia was estimated at $3.8 billion in lost productivity and $385 million in avoidable recruitment costs. They key word there is avoidable.
Our “Emerging Leaders” program is all about:
- Assisting you to identify and retain your next level leaders.
- It’s about investing in the people you have seen potential in, those who have the right attitude and values that compliment the business and those people who instinctively enhance the culture. The ones who you can rely on and are that safe pair of hands. The ones who if you continue to neglect will leave. Yes them!
- To empower your emerging leaders to think like leaders, to behave like leaders and to take ownership for their career direction.
- Encouraging them to take initiative and be proactive, developing a team of committed and confident leaders and influencers who own their space and who want to step up.
The benefits to you:
Retaining your leaders – this has to be the biggest win for your bottom line, your clients, your team and your peace of mind.
Developing relevant leaders – it’s important to not only be developing leaders but also developing leaders that are relevant to your business and to our ‘busy’ economy. They need to be courageous, agile, confident and flexible.
Developing a culture of leadership – the more people leading the better the culture and conversations of the business. You’re developing mentors who can assist you in developing your whole team.
Higher buy in – people will be more committed and by being more committed they will be taking more ownership and responsibility for outcomes.
Makes your job easier – the more you are collaborating with leaders rather than instructing staff to do a job the easier your role will be.
More time for you – by having more people taking ownership and being responsible because they want to be, the more time you have to be doing the things you should be doing rather than worrying about what’s not getting done.
Diversity in your business – this is important not only across gender but across skill sets and generations. By investing in your team you will be able to readily identify their skills and how you can best leverage these now and in the future. You will know where your people can assist in the growth of your business.
The program is facilitated by Julie Hyde. Julie is a leader of leaders, a trusted advisor and a successful and results driven senior leader and businesswoman. She understands the challenges of small business and a career in the corporate world. Julie is an expert in empowering leaders, instilling confidence and equipping leaders with the tools they need to develop their leadership and improve results.
As Brownie Wise said, ”If you want to build business, build the people.” Brownie Wise is the brains behind Tupperware, a very successful global business.
How does it work?
The program can be run over 3, 6 or 9 months and we work very closely with you so you are aware what is happening every step of the way.
- There is a pre kick-off internal meeting
- Constant check-ins to update you on progress,
- DISC profile is included to assist your team in understanding their communication styles and how this can impact on others.
- Post program debrief.
Don’t be at risk of losing your best and brightest staff. Be proactive and take action to engage, empower and retain them.
Contact Julie to find out more about the Emerging Leaders program and how it can work for your team and your business.