Seal the Gaps: The Strange Case of the Leaking Employees

Last week, I hosted a webinar on The Great Refusal to Work Lie, where I dispelled the lies others have been propagating regarding why companies can't fill jobs. If you missed the session, and you'd like to review the recording, you can do so here .

During the webinar, I offered up several special opportunities to participants for a limited time only. I'll extend this offer to you for a 48 hour period as well. Just write to me at [email protected] and put Big Lie and LinkedIn in the subject line.

Now onto today's newsletter...

Have you ever told a white lie when asked by your company why you were departing? If so, you're not alone.

The desire to leave on a good note while speaking the truth often puts people in a no-win situation.

Do you Even Know You Have a Leak?

Advice from career experts, including me, is to say as little as possible on your way out of an organization. After all, you may need a reference, or you may decide you’d like to work for this company again.

Why burn bridges and go down in the flames when you can simply say, “I’m leaving for a better opportunity?”

Yet, companies heavily rely on exit interviews, even though the information they’re gathering is misleading, which helps to explain why little is done with the data collected and employees continue to bolt.

The Cost of Employee Leakage

The cost of employee turnover can be crippling, especially now, when a?Prudential Financial’s Pulse of the American Worker survey ?found that 1 in 4 workers is planning to look for opportunities with a new employer once the threat of the pandemic has subsided. The number is even higher (34%) among millennials.?

How much longer can you afford to continue to operate as if nothing has changed?

?It’s time to put an end to exit interviews and do this instead.

A Sixth Sense Approach to Employee Retention

There’s a much better way to get to the truth, in terms of why people are leaving your organization, that will allow you to stop costly employee turnover from spreading. I call this approach Matuson’s ESP?, which stands for Matuson’s Employee Stickiness Project.?

How this three-step process works:

Step One:?We meet to pinpoint precisely where talent is seeping out of the organization. I then speak with the senior leaders overseeing these departments to get a sense of their beliefs about why people are leaving.

Step Two:?I interview former employees who’ve recently left the company to learn why they sought a better opportunity in the first place, as this is what matters most.?

You’d be amazed how many people agree to speak with me, as well as their willingness to be completely transparent. I suspect this is because I’m an impartial third party, and when they speak, I listen deeply and encourage them to share their truth.

Step Three:?I analyze the data and report my findings back to the client. Included in the report are recommendations on what can be done to prevent others from departing and a special section titled “In Their Words,” where I share verbatim (anonymously) what people have said.

This last section is what usually springs my clients into action.

I’ve had clients say things like, “You could feel the pain these employees were experiencing when reading the comments,” or, “I had no idea things were so bad. We have to fix this.”?

A Word of Caution

This sixth sense approach to talent retention is?not?for everyone.?Matuson’s ESP? is for:

·?????CEOs, business owners, and executives who are tired of watching great people exit the organization.

·?????People who recognize the high cost of employee turnover and the stress that follows when the remaining employees are left to pick up the slack.? ?

·?????Leaders who acknowledge that their current approach to talent retention isn’t yielding the results they had hoped for.

·?????Those who are ready to hear the truth?and?take the necessary steps to ensure employees stick around.

Now's the time to take action—that is?if you want to ensure the only people exiting your company are those whom you’re inviting to leave.?

? Matuson Consulting, June, 2021.

Ready to slash your employee turnover costs in half? Schedule a call with me to discuss if Matuson’s ESP? is right for you.

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