Retention Isn't Enough - Grow Your People, Grow Your Business

Employee engagement, according to Gallup’s 2024 State of the Workforce Report, has hit a 10-year low. Only 31% of employees in the U.S. are engaged in their work. That means less than a third of your team feels seen, heard, or motivated to give their best effort. In industries like finance, tech, or professional services, the numbers are even worse.

This isn’t just a “workforce trend.” It’s a flashing red light for leaders. Disengaged talent leads to productivity dips, morale issues, and inevitable turnover. But let’s be clear: retention isn’t just about avoiding losses. It’s about building momentum. When you create a workplace where people want to stay, they thrive—and that drives real results.

The Retention Problem Nobody Can Afford

Losing great talent is expensive. Creating a population of “quiet quitters” may be even worse. Beyond financial costs, turnover disrupts teams, drains institutional knowledge, and strengthens your competition when they pick up the talent you lose. Without a solid succession plan, one resignation can wreak havoc across an entire department.

Here’s what’s driving disengagement:

• Lack of clarity on job expectations.
• Few opportunities for growth or development.
• A failure to feel cared for as a whole person.

These issues aren’t new, but hybrid work, rapid organizational change, and shifting employee expectations have amplified them. Young workers—our future leaders—are disengaging fastest. A paycheck isn’t enough anymore; they want purpose, connection, and opportunity.

Retention is the Ultimate ROI

Retention, at its core, is about designing a workplace where employees feel valued, supported, and inspired. Companies that treat retention as a fundamental business strategy—not just an HR task—see measurable results:

• 21% higher profitability (Gallup, 2024).
• 59% lower turnover (Meta-Analysis of Employee Engagement).
• Improved outcomes in employee well-being, internal collaboration, and customer satisfaction.

What could your organization achieve if you nailed the outcomes above?

The Retention Blueprint: What Leaders Can Do Now

1. Rally around a vision: every organization is different and may be chasing slightly different goals. When clarity seems hard to come by, a vision can be your compass. First, seek real feedback from the frontline and then define the vision from the bottom up.
2. Invest in career and leadership development: Employees don’t come for “just a job” and they don’t leave the company – they leave the leader. Above all else, offer a clear pathway for growth for employees at all levels of the organization. As for leaders, equip them to provide clear communication, meaningful two-way feedback, and encouragement tailored to their unique team members. Great leaders are your frontline defense against disengagement.
3. Measure engagement, then act on it: I worked for two retail giants in my career. One sought feedback at the macro level one time per year. The other sought feedback at the micro level every single day. Who had a better pulse on their workforce? I don’t have to tell you the answer. Not only that, but the latter also explicitly took the barriers employees shared, fixed them, and then celebrated the improvement with the employees. If you don’t do this, create your system today.
4. Strengthen connection in a Zoom room world: the benefits of a remote or hybrid work model for the right roles are immense, but the overarching drawback is this new world can leave employees feeling isolated. Be intentional about creating connection through team-building activities, recognition, and life talk. Be flexible with the agenda and include some time for real human interaction.
5. Bring in the right partners: None of this must be done alone. In fact, partnering with an expert can not only take some of the heavy lifting off your team, but it can also create the magical “new employee effect”. Every single organization and team on this planet have blind spots. External consultants epitomize the new employee in asking, “why do we do it this way”? Take advantage of that, it’s your secret weapon.

No Flashy Conclusion—Just the Truth

Retention is everyone’s responsibility. If it’s not already a strategic priority, you’re behind. The cost of inaction is steep: higher turnover, lower productivity, and a harder road ahead.

Start by auditing your efforts. Ask your people what they need—and listen. Invest in leadership and career development, and don’t hesitate to lean on experts who can help. Retention isn’t just about keeping talent; it’s about unlocking their potential.

If you’re ready to make this a priority, let’s talk—I know a guy who can help.