SCALING YOUR BUSINESS
Identifying The Barriers To Your Company ’ s Growth
ARE YOUR MANAGERS DRIVING TOP-TIER TALENT AWAY ?
VERNE HARNISH AND THE TEAM AT GAZELLES
“ Having the liberty to figure things out for themselves and apply their own style is very important for people . Autonomy is one of the three main drivers of human motivation ."
People join companies ; they leave managers . To keep your team happy and engaged , you need great managers — not free lunches or yoga classes ! As Gallup notes , “ Managers account for at least 70 % of variance in employee engagement scores .” Great managers are not just born ; they are continually advancing their skills and those of their employees . Failure to develop sufficient leadership is one of the three biggest barriers to growth .
So , what does a great manager do to keep their team happy and engaged ? According to the data , periodic one-on-one coaching ranked as the No . 1 key to being a successful leader . From our experience , great managers must focus these coaching sessions on the five main activities of successful managers . In reverse order of importance , these activities are :
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3
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Hire fewer people and pay them more .
Give recognition and show appreciation .
Set clear expectations and give employees a clear line of sight .
Don ’ t demotivate ; “ dehassle .” Help people play to their strengths .
5 . HIRE LESS WITH HIGHER PAY .
Compensation is a lot less effective as a motivational tool than we originally thought . People will sacrifice certain perks to work with a company that has a worthy purpose and is making a difference . Does that make compensation irrelevant ? Of course not ! If companies aren ’ t competitive , it is challenging for them to attract and keep the best talent .
The key to affording higher wages is having a lower total wage cost as a percent of revenue . You have to remain competitive , and the best companies know that one great person can replace three good ones . Through rigorous selection , they get the absolute best talent in the door , pay employees above-market rates , and invest heavily in training and development to make them more productive .
When it comes to the key people who absolutely drive performance , great managers simply do whatever it takes to keep them on board , including offering a customized compensation package . You need to be creative and flexible to keep your top talent happy .
4 . GIVE RECOGNITION AND SHOW APPRECIATION .
Studies have shown that for people to be happy and productive at work , they need to experience positive interactions ( appreciation and praise ) versus negative interactions ( reprimands and criticism ) with their manager in a ratio of at least 3:1 . The way people want to receive recognition varies greatly , so successful managers test different approaches and observe reactions until they find the triggers that work best for each of their people .
3 . SET CLEAR EXPECTATIONS AND PROVIDE A LINE OF SIGHT .
Great managers explain to their employees how their work directly contributes to the greater objectives of the company and help them align their individual priorities with those of the firm . Can your employees explain how what they ’ re doing helps achieve your company ’ s purpose , strategy , and brand promise ?
Once people understand their role and contribution , great managers set clear and consistent expectations about the outcomes of their team ’ s work . By defining the “ what ” and not the “ how ,” great managers give employees the autonomy to find their own way of achieving these goals . Having the liberty to figure things
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