In the IT services industry, one of the key metric is “attrition” and most of the firms have their own formula for calculating it. In simple terms, it’s the number of people who have left the firm in a particular period by total number of people that that firm has in that particular period. It is usually expressed in percentages and it gets featured in quarterly earnings for public listed firms and for private firms, it is given as a MBO to the senior management to curb it if the number goes high. Customers track this and highlight it as a concern if it goes beyond an acceptable level.
There is always a conflict between professional managers and HR on who should own this metric. In some firms, it’s a shared responsibility, in some; it comes under the ambit of managers KRA. Again, I don’t want to get in to this dynamics -That’s a separate blog by itself. I strongly believe that people management falls under of ambit of professional managers and they must do whatever it takes to retain people or “talent”.
After having retained a lot of people and have lost a lot of people, I wanted to blog about this for a long time!
Why do people leave firms? What can be the reasons? Is it for?
- Better pay
- Better Lifestyle
- Better job profile or a challenging role
- Better boss who has basic human values
- Higher Education
- Marriage
- Start on their own!
Most of the times, I believe that, “people always people” and they do not cite this as a single most reason during exit interviews but it is more implicit. When I mean people, it refers to their immediate boss most of the times and some times, the leadership team in general.
Given this view, how do we tackle this? There are again multiple ways to achieve “nirvana” here but we will attempt on couple of pointers or hints as this is an evolving area [feel free to add your comments after reading especially in this area]:
- Behave like a “manager”- I am smiling while I am typing this but this is something I think is missing most of the times. Most of the promoted managers don’t even know what they should do as “managers”. The field of management is so extensive that they don’t even want to read about it. They believe that they have got the title and hence they are capable! They have got the title because they did well in an individual/team capacity most of the times and due to that, they got elevated to handle a team. GE had clearly defined this in 4 E’s long back [Energy, Ability to Energize, Edge, and Ability to Execute]
- Your role is different from your personality- You as a manager are in a “role” and it is not a role given by a firm to “please” everyone. It’s a role that has clear result areas and objectives- So you have to ensure that your “core” personality does not conflict with this role. For example: Your core personality does not like arguments or conflicts whereas in your role, you need to do that day in and day out. The ability to differentiate this is very critical as it benefits your team. Your team will get suffocated if your core soft personality comes in the way of the role or vice-versa.
- Solve Problems for your team; don’t delegate and expect to get solved- If a problem does not get solved, chances are that your team is looking up to you to get your hands dirty. If you think you also cannot solve it, then don’t route the blame to the team. Essentially eliminate the “blame game”- You are being a manager to take the blame and not to route it! Very obvious point but do you do it?
- You are under constant observation by your team- This is the hard truth of being a manager! If you are uncomfortable on this aspect, you should tend to remain as an individual contributor. You need to bring dignity to the role- Any degree of prejudice or nepotism or any default practice done by you is observed, recorded, archived and will be retrieved by your team for future use!
- Respect from your team comes because of your actions and not because of your title- Again everyone understands this but few track this consciously!
- Respect your word- Some times manager’s commit something to an individual team member or a group of team members and it’s important to respect that word! I have seen managers committing something to solve something in the short term or for the immediate term and forget about it. This jeopardizes the role once again.
- Focus on being a good human being yourself- This encompasses your personal “value compass” and the shared values like Empathy, Compassion, and Integrity etc.
- Courage and Passion- This is important as these two are inter-related and very contagious. You need to have courage to encourage “dissent” in your meetings rather than surrounding with yes-men. The passion that I am referring to is not your personal passion- You might be heavily interested in photography or painting but you have a day job; so it might be worthwhile to inject some passion in your day job so that you can make it joyful for you and others!
- Teach a new thing for yourself and for your team- They will remember you for this for eternity!
- Read, Read and Read- Again the common excuse that I hear on this are:Lack of time
-No interest to read
-What do I gain by reading?
-I have around 10 years of experience- So why read? I know? [this is the know-it-all syndrome]
-What to read? When to start? Which book? Management or Non-Management?
I think reading anything helps you to kick-start the habit and also get in to the “connecting the dots” and “association” trait which is very important for aspiring leaders.
I can go on and on for managers but if we understand some of these practical aspects, we can and will retain people and talent. Even if they leave, they will come back for you! Again, we are not attempting a recipe here but the above factors can be taken in to consideration while you are in the “retention” business.
Given the advent of millenial’s entering the workforce and globalization creating more options for everyone, it has become a necessity to retain good people/talent. Fortunately, there is no shortcut for this and meticulous understanding and diligence is required on people management!
Would love to hear your views and perspectives on this!