As organizations change how they operate and even function in the 4th quarter of 2021, many things are unknown. Will you still have access to the people, talent and resources you had pre-2020? Will your budget and sales expectations change? This is new territory. Yet, you’ve already done some preparation.
For the industries that serve as models for today’s leadership and for those companies that are heralded as bastions of good leadership, chances are there are people in executive positions who exhibit generosity. In fact, they might have been promoted because of this adjective and even hired because of it. In a company that celebrates leadership, an executive is expected to encourage, train and develop individuals in their team to become stronger leaders. You may find it in their job description. There’s the understanding that their team members are the succession plan for the company in the near future.
How can you be consistently authentic and true to your values? One of the things I admire so much about Millennials and Gen Z’s is their devotion to fairness and inclusion. It’s one of the reasons I enjoy working with them. According to Inc. Magazine Winter 2018/2019, a survey done by MUSE of Millennial bosses, their top priorities are humanist in nature. They include “creating positive work cultures, forging strong relationships in person and caring for the whole person, not just the worker.” Do these translate to non-work or personal life situations? If you are being genuine when you speak of those beliefs and those are truly your heartfelt standards for living, they would.
When differentiators are obvious to people, they focus on what makes the other people different rather than what makes them similar. It happens with races, cultures, generations, sexes. Those differences in recent times are criticized. What about if they were celebrated? What if those differences were actually talents? Seasoned people have experience and wisdom. Young professionals have a long list of skills.
That sports team is your organization. The right players to fill in those crucial voids are your people and the game plan is the strategy that allows your organization to continue to thrive. The time to evaluate and think about succession strategy is now. Do you have those rookies with potential, or seasoned athletes who are still strong players? And, if so, how do you keep them from being traded? Knowing the country is at full employment, and opportunities come knocking, how do you keep them loyal and poised to play?
What is the cost of losing one employee? There are the direct costs of the loss and the costs of replacing that person. Here is a list of them. Why care? 3 million Americans quit their job every month. 25% of employees are at a high risk for turnover (these are your top performers). If you could keep the interest of valued employees, wouldn’t that be worthwhile?