How to Increase Employee Retention

Employee retention is a key challenge for many organizations, especially in a competitive market where talent is scarce. High turnover rates can have negative impacts on productivity, morale, customer satisfaction, and profitability. Therefore, it is essential for managers to understand what motivates their employees and how to create a work environment that fosters loyalty and engagement.

Using Maslow's hierarchy to improve retention.

One useful framework to understand employee motivation is Maslow's hierarchy of needs, a psychological theory that proposes that human beings have five basic needs that must be satisfied to achieve their full potential. These needs are:

• Physiological: The need for food, water, shelter, and other basic necessities of life.

• Safety: The need for security, stability, protection, and freedom from fear or harm.

• Belonging: The need for social interaction, affection, acceptance, and belonging to a group.

• Esteem: The need for recognition, respect, achievement, and self-confidence.

• Self-actualization: The need for personal growth, creativity, fulfillment, and realization of one's potential.

According to Maslow, these needs are arranged in a hierarchy, meaning that the lower-level needs must be met before the higher-level needs can be pursued.

For example, if an employee is stressed because they are worried about their ability to pay their rent, it can have a negative impact on their ability to focus on work. Therefore, managers can unlock their employee's potential by helping them move up the hierarchy of needs.

Here are some practical ways to apply Maslow's hierarchy of needs to employee retention:

1) Provide a compensation plan that provides for physiological needs.

Employees need to feel that their basic needs are being taken care of while working for your company. As an employer, you can improve employee retention by ensuring your entry-level roles provide compensation packages that allow your employees to take care of their basic needs.

Turnover at entry-level roles tends to be high, as employees jump from employer to employer in search of making enough money to pay off debt, cover rent or mortgage expenses, food, clothing, and other basic living expenses. If basic needs are not met, employees will not be motivated or loyal, creating more retention risk.

Therefore, managers need to monitor the compensation packages of their competitors, along with the typical living expenses within their region, and ensure they are providing fair compensation. They should offer benefits such as health insurance, retirement plans, education reimbursement, and paid leave when financially possible. The money spent supporting the financial health of your workforce will ensure their physiological needs are met, which will reduce the risk of employee turnover.

2) Create a safe work environment.

Employees need to feel safe and secure in their work environment, both physically and psychologically. This means that managers should ensure that the workplace is free from hazards, accidents, violence, harassment, discrimination, and other threats.

Unsafe work conditions and toxic workplaces lead to low morale, higher levels of absenteeism, and elevated turnover rates. Failure to create a safe work environment can drive up labor expenses because employees will require greater compensation in exchange for the physical and psychological risks they take by working for your company.

Managers should establish clear policies and procedures for dealing with any issues or conflicts that may arise and communicate them effectively to the employees. Furthermore, managers should foster a culture of trust and transparency, where employees feel comfortable expressing their opinions, concerns, and feedback without fear of retaliation or punishment.

3) Establish a sense of belonging.

Employees need to feel that they are part of a team or a community where they can interact with others who share their values and goals. Organizations must be clear on their mission and values and establish best practices, rituals, and routines that attract, develop, and retain employees that align with the organization's purpose.

Managers play an important role in building a sense of community. They must be

• Selective when bringing on new talent

• Quick to address culture-damaging behaviors

• Skillful in resolving disputes

• Willing to remove individuals who do not align with the culture

Through their leadership, managers can stimulate the collaborations and teamwork necessary to build a strong sense of community within the organization.

4) Give work that builds employees' self-esteem.

Employees need to feel that they are valued and respected for their work and that they can grow and develop their skills and abilities. This means managers should assign challenging and meaningful work to their employees and provide them with clear expectations and feedback.

Managers should also offer training and development programs for their employees and support them in pursuing their career goals.

As employees move up the hierarchy of needs, opportunities to gain status, recognition, power, and influence become more important. Leaders must be intentional in providing employees with opportunities to expand their responsibilities and acknowledge their contributions.

5) Assist employees in pursuing their dream.

Employees need to feel that they are fulfilling their potential and achieving their personal aspirations. This means that managers should understand the interests and passions of their employees and help align them with the organization's vision and values.

Managers should also encourage creativity and innovation among their employees and allow them to experiment with new ideas and approaches.

Novelty, engagement, and retention go hand in hand. To retain employees at the top of the hierarchy, it is vital to provide them with the latitude to keep work fresh, exciting, and engaging while staying within the overall mission and vision of the organization.

Summary

By applying Maslow's hierarchy of needs to employee retention, managers can create a work environment that satisfies the diverse needs of their employees at different levels. This will increase employee satisfaction and loyalty and enhance employee performance and productivity. Ultimately, this will benefit both the organization and the employee. By identifying which stage your employees is on the hierarchy and identifying ways to satisfy their current need, you will increase their loyalty and decrease the risk of turnover.

---

Thank you for reading this blog

I am a father, husband, executive coach, and former retail executive. My coaching expertise comes from 21 years of leading operation, sales, and marketing teams. I understand what it is like to feel stuck, undervalued, and underappreciated.

I also know what it takes to invest in professional development, climb the corporate ladder, and find fulfillment at work.

Your career path is a scavenger hunt. Each opportunity prepares you for the next. Allow me the opportunity to help you clarify your path and accelerate your professional development.

Talk with Dorian

Have Feedback Send me a note at

Email: dcunion@yourpathexecutivesolutions.com

For daily tips on leadership and professional development, follow me:

LinkedIn

Facebook

What Your Boss Wants You to Know to Accelerate Career.

I recently sat down with Lee Wilburn, Regional Director for Casey’s. I have known Lee for five years and am a big fan of his leadership approach. When I first met Lee, he was a District Manager with 16 years of experience with two different retail companies. During our conversation, I asked Lee what he felt allowed him to go from being a District Manager, to Category Manager, to Regional Director in the last 5 years.

5 Tips to Accelerate Career

Find good leaders.

Lee's career took off when he started working with leaders who invested in his potential. They helped him develop new skills, see things from new perspectives, and explore new opportunities. Your growth as a leader will accelerate when you work for individuals that invest in your professional development. This can include the leaders you work for, sponsors, mentors, or coaches who push you to be the best version of yourself.

Be clear in your goals.

Lee set a clear goal for wanting to be a regional manager. He habitually communicated this goal to others and asked them what it would take to get there. Using this guidance, he devised a plan to build the skills and gain the experience he would need to qualify for regional manager positions. To accelerate your career growth, define the type of job that you want, and solicit the help of others in working toward your goal.

Build Emotional Intelligence.

Lee feels that improving his emotional intelligence has helped him to be a better leader. Early in his career, Lee says that he was not as versatile as a leader. His approach worked well with some employees but not all. As he has worked on listening better and being more empathic, he has found that he is able to connect with more employees, meet them where they are, and better inspire them to be the best version of themselves. Higher levels of leadership require you to influence a diverse group of stakeholders. Mastering emotional intelligence will level up your leadership ability allowing you to be effective with a broader range of people.

Take a calculated risk.

Relocating two times in the last 5 years has contributed to Lee’s quick advancement in his career. In hindsight, he thinks he might have been able to progress quicker in his career if he had been more willing to take risks earlier in his career. He did not express regret in his decisions because, as a father, he knows that progressing in his career is not his only goal. He also wants to provide the best environment for his family to thrive and grow. In advancing your career, you must balance new opportunities' rewards with the risk of failure and unintended consequences. Only by weighing the risk and rewards can you confidently take actions that align with your values.

Know when to exit.

Lee has worked for 3 different companies over the last 18 years. He feels he learned important lessons from each company. His final advice to emerging leaders is to follow their gut and seek new opportunities when they feel their learning is slowing down. To be the best version of yourself, you need challenging assignments, so continue to seek out career moves that will allow you to stretch yourself and grow.

Summary

Building a successful career requires you to be confident in your abilities, humble enough to learn from others, and open enough to build relationships with people that can make you better. The five tips Lee provided are great suggestions for any leader aspiring to grow their career. By defining career objectives, developing goals, and creating action plans, you can better position yourself to establish the skills, relationships, and experiences you need to achieve your professional goals.

---

Thank you for reading this blog

Dorian Cunion is an Executive Coach and Business Consultant with Your Path Coaching and Consulting. He is a former retail executive with over 20 years of experience in the retail industry. He is a Co-Active coach who focuses on helping professionals and small business owners overcome insecurities, knowledge gaps, and lack of direction. He does this by assisting clients to tap into their values, recognize their strengths, and develop actionable strategies for growth.

Have you been trying to improve your career or business on your own but are not seeing success as fast as you desire?

Book a free discovery call to discuss your goals and how I can help you accelerate.

Talk with Dorian

Have Feedback Send me a note at

Email: dcunion@yourpathexecutivesolutions.com

For daily tips on leadership and professional development, follow me:

LinkedIn

Facebook

3 Skills You Need for Managing Organizational Change.

Are you facing changes in your workplace that make you feel uncertain about how to navigate your career? You are not alone. Organizational restructuring and management turnover are happening at rates not seen since the last recession, creating heightened uncertainty in the workplace. As companies seek to keep up with AI advancements, rising costs, and tightening capital markets, more pressure is being put on employees to deliver higher results without incurring incremental costs.

Three skills you need to master

If you are in a situation where your role is changing significantly, there are three skills you need to master to position yourself for success.

Clarifying Expectations

Leveraging Your Network

Securing Resources

Clarifying Expectations

Everyone must be on the same page regarding expectations when roles and responsibilities change at work. Sit down with your leader, and ensure you understand what they want you to accomplish. Getting clarity on desired outcomes and operating parameters can help you to understand what is important and the actions you are empowered to take to deliver against expectations.

If you are taking on an expanded role, understand if any tasks will be deprioritized or completely divested. As a rule, if you are currently working at capacity, you can only take on additional work if some of your previous work is removed.

When collaborating with clients, I frequently use a full teacup as a metaphor for capacity. If a teacup is full to the brim, and you add a tea bag, the cup will overflow and make a mess.

To make tea without creating a mess, leave some room for the teabag. By sitting down with your leader, discussing your current duties, and aligning with them on what tasks will be removed, you create the capacity to accomplish your goals without making a mess.

Leverage Your Network

The second skill you want to leverage is accessing your support network. Take a 360-degree look at those around you. Who might have skills, knowledge, or insights to help you navigate your new environment successfully?

Employees frequently struggle with change because they are unwilling to communicate to those around them that they need help. Part of the benefit of working within an organization is collaborating with people with a shared mission. Connect with others within your organization, share your challenges, and request assistance.

By casting a wide net and taking in feedback from multiple sources, you can gain clarity on the actions you need to take to thrive within your organization. You can also establish strategic partnerships that will allow you to exchange value with your co-workers for mutual benefit.

Secure Resources

The third skill you want to use is securing resources. You can do this by starting with the end in mind. Define the ideal end state, and craft a plan to take you from where you are today to where you want to be. Then devise a strategy for gaining what you need to accomplish your goals.

When change occurs, it is vital to determine resource needs. For example, if you were planning a road trip to the beach, you would take the time to decide how you would get there, along with what items you

would need to bring to have a safe trip. You would take time to plan the trip to ensure you have enough gas, drink, food, sunblock, and other niceties necessary to make it to your destination and enjoy yourself once you get there.

Similarly, pausing to determine what resources you will need to navigate organizational change will help you reduce stress and find success. A few resources you may need are

• more frequent meetings with your leader to align on priorities

• additional training so you can effectively take on new tasks

• extra budget so that you can deliver against raised expectations

• more autonomy to make decisions without having to talk with leadership

The better you can articulate what you need to succeed and advocate for those resources, the better positioned you will be for success.

Summary

One constant thing in business is change—your ability to flow like water when your organization changes will position you for success. One of the things that makes water so unique is its ability to take on the shape of whatever it is in. Employees who can metaphorize themselves to fit into whatever environment their organization puts them in position themselves for long and successful careers.

Peter Drunker once said, "One can not manage change. One can only be ahead of it." The best way to stay ahead of the changes in your organization is to clarify what your leadership expects from you, leverage your network, and get the resources you need to succeed. This will allow you to stay ahead of the curve and be prepared for what is coming next.

---

Thank you for reading this blog

Dorian Cunion is an Executive Coach and Business Consultant with Your Path Coaching and Consulting. He is a former retail executive with over 20 years of experience in the retail industry. He is a Co-Active coach who focuses on helping professionals and small business owners overcome insecurities, knowledge gaps, and lack of direction. He does this by assisting clients to tap into their values, recognize their strengths, and develop actionable strategies for growth.

Have you been trying to improve your career or business on your own but are not seeing success as fast as you desire?

Book a free discovery call to discuss your goals and how I can help you accelerate.

Talk with Dorian

Have Feedback Send me a note at

Email: dcunion@yourpathexecutivesolutions.com

For daily tips on leadership and professional development, follow me:

LinkedIn

Facebook