That same focus on uncovering needs and goals applies to those you manage as well, as it leads to greater loyalty and retainment of your staff. How often do you take time to ask each person on your team what they want in their job, what they need from you, from the company? Wouldn’t it be nice to know these things so that you can engage, develop, and retain them?
Employee engagement is such an important aspect in overall happiness on the job since it leads to retention. As the average cost of replacement hovers around 1.5x a person’s salary, keeping your employees engaged is crucial in achieving the goals you have for this year and beyond.
According to private research by Aberdeen, employees that are engaged are 233% more loyal than those that are not. Because these employees are engaged, that loyalty adds to a 26% increase in revenue. Those numbers are astounding and should send a message loud and clear to managers.
Engagement is different for everyone, so it is imperative to uncover what others need from their manager. There are a few ways you can connect with your team, but how do you uncover what each individual wants? You ask them.
Find time this week to begin working toward your engagement and retainment goals. Make a list of everyone on your team and schedule an appointment with them. This high-priority appointment should have one goal in mind: to uncover their needs.
Use your time to ask their goals, what they expect of you this year, what motivates them. Utilize tools already built to help you in this process, like the Individualized Management Questionnaire (IMQ). This fantastic tool allows you to uncover their interests and dig deeper into expectations and goals, and it gives you a peek inside the relationship they would like to develop with you.
With a clear structure to follow, the IMQ guides you to ask all the right questions to better understand how to maximize the strengths and manage the limitations of the individuals you are coaching.
Internal relationships are vital in nurturing your team and in turn, lead to bottom line growth and success. Spending time with those you worked so hard to hire and train is extremely important in cultivating your relationship with them. Uncover the needs of your team regularly and make the IMQ part of your engagement and retainment plans. You’ll be glad you did.