Business

Lisa’s Opinion on Why companies are losing Top Talent

Written by David Larkin

Hey Everyone,

This is such a popular question and somewhat tender subject. I feel this will benefit both upcoming talent and hopefully allow Employees understand that company structure that may have worked 5 years ago needs changing.. and quick

 

When I talk with Millennials or Gen Z that have decided to leave a company.. I hear the same messaging over and over. It’s a sad message to be honest, as I believe it doesn’t just effect the company but can really effect the indivdual.

So my role as the voice of this generation I am going to speak about whats really going on…

Companies today are constantly talking abut ” how they want and NEED to keep top talent’. You spend  an awful amount  of money advertising this, and no doubt the top tier C- level understand how important this really is.. Im not even talking about the single figure % of unemployment in Ireland…. But my first advice is you are wasting your time and money…..’cos there is a bigger problem right under your noise that doesn’t cost you money to fix.

So what am I hearing?….  and what is the bigger problem…

The problem is.. internal politics and cliques are causing talent and even worse innovative Talent to leave you..                                   Let me explain a little more in detail

1. We have people working in our companies that hold a title such as Manager.. Director… Vice president etc.. these are positions with authority, meaning they lead people in your business. A lot of these top tier peers  no surprise!!!!…. would have either worked together previously, or you will find when one gets promoted so do they all. THATS YOUR FIRST PROBLEM: This is called a dangerous clique. Even worse If you are not in this click you are unlikely to have an easy route to succeed.

With this: you are loosing innovation and creating the wrong culture for up and coming talent. 

2. With Authority comes responsibilities. However if  there is a clique  in your business between these higher tiers. No surprise….This generation will spot this  and you will loose their commitment and engagement almost immediately . “a feeling of been dejected many quote”. They will feel there is no room to grow and your company is not staying true to what you advertised.  Negative to your company : “you are not practicing what you preach”.  If this is the case you would have heard some expressions like  “this isn’t what I signed up for” . Some people call this the physiology contract V’s the actually contract

3. I personally have seen this first hand through my own experience and can certainly relate to this messaging. We have other generations in higher positioning ruling who gets promoted and who doesn’t. Unless you do as they want, work how they work you will have no chance of growing with this company as they will always fear your talent will make them look weak. We call this the ” whats in it for me” type of managers. Well in actually fact this now talented generation need leadership. So right away we have an oil and water scenario….

  • Strong mangers want to attract and promote the best….. as they know this adds to their achievements.
  • Weak Management  however; don’t want any upcoming talent to pass them out. They will do everything to focus on their brand only.

This is a massive loss for any company.  I always say to companies… you shouldnt fear attrition ( once you are loosing the right people) what i mean by that is…, some cultures don’t fit everyone and it really is about keeping the best people for you.

Whats  my advice:

  • We need to get Mangers or anyone in a empowering position to lead from the front. These managers  must be equipped and trained to mange , lead and spot top talent.
  • They must have no fear in letting talent shine and grow. ( even if this means they will be reporting to theses people in a few years)
  • C-Level: Need to be aware of whats happening on the ground. The farther you are away from the lower level tier, the less likely culture is being implemented correctly.
  • Its easy to invest in your people …. all you have to do is make sure your Managers in the business creates the right culture and leadership. ( this isn’t easy really)
  • Remove those bad cliques. I call these “bad eggs” and my god have I seen some terrible ones through my experience. This is whats causing the bad smell( excuse the pun), Allow this next generation of top talent to become part of your exciting team of growth.

 

Whether we like this news or not,  if you have a title of empowerment ( no matter the role) you have more responsibilities than you had 10 years ago.We have a generation ready to commit and strive to add value. If we allow this to go unnoticed and we don’t reward it ( this doesn’t always mean a pay rise) we will manage those Top Talents out of the business. 

 

The saddest thing I see is when companies loose what I would consider as Top Talent. All because i believe the wrong people are leading. We have a circle of leadership that worked very well in business maybe 5- 10 years ago… but we need to change that circle structure ( as times have changed) and allow innovation and diversity to shine.. naturally changing this shape to an octagon. Don’t be afraid to change this circle that i would consider a viscous one. This will never create the correct culture for these generations.

“Allow your talent to shine. How long your tenure in business today does not carry weight for how talented you are”.

 

Remember:

Millennials communicate: They talk and socialise. The empowerment is really in their hands. This has effected companies massively. This damage control can be detrimental…….

However get this right and they will shout about it,  they will be your biggest advertisement at zero cost!!!….let them sell your company to others to help attract and retain.

 

If you would like to learn more

http://engagesmith.com/corporate/

 

 

 

Lisa

 

 

 

 

 

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David Larkin

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