Regardless of the situation, “things” like money, luxuries or lifestyle doesn’t matter as much as people and relationships. That’s why it is important to manage things and lead people.
If people don’t feel they are treated with respect, if they are not valued for their worth and potential, and if they’re not inspired by their parent, boss, or colleagues, they will simply switch off.
It doesn’t matter how many perks or conveniences that might be available to them if they stay. And throwing “money” (through bonuses for example) with have little or no effect other than to reduce your bank balance.
If the relationship is bad people won’t stay, and hence you lose your good people, but almost as bad, the disengaged STAY (because nobody wants them) and while they have emotionally gone, they will continue to drag your business down though low productivity, absence and worst of all, toxic behaviour to colleagues and clients.
Remember that regardless of your role, or whether people report to you, you are a leader. And your job as a leader is not just to keep people around, but to lead them, often by example, in a positive way, so they consciously and enthusiastically choose to stay, so they contribute in a meaningful way.
You should not be satisfied with the premise of merely retaining your people on your team but should strive to ignite their passion to maximise their potential and your investment in them.
If you don’t look after your employees with a culture of appreciation in place that values, respects and recognises staff contribution, you will remain in the cycle of losing your top talent and spending a fortune to recruit, train and ultimately lose staff who move on to your competitors.
