Unarguably, talent is the trump card for businesses in today’s economy. According to a study by ManpowerGroup, an international research and advisory firm, 38 percent of global companies say they are having difficulty filling their open positions, the highest such figure since 2007 (Talent Economy: February 12, 2016).
This void can create a reduced ability to serve clients while impacting competitiveness, productivity and ultimately revenue. Replacing an employee who quits costs, on average, 21 percent of their pay (HBR.org: March 2017). The war for talent is real and more pervasive than ever.
What can companies do to retain their top performers?
One simple and free act can be a difference-maker in whether someone chooses to stay or leave – and, it’s not the pay, promotions or the perks necessarily. We can stop worrying about the color of the sweatshirt, the amount of the gift card and the style of the coffee mugs. In Fortune’s annual study of the 100 Best Places to Work, some of the comments from employees who were surveyed communicate clearly that staying is about knowing, “my work has special meaning”, “I make a difference here,” and confidently stating, “When I look at what we accomplish, I feel a sense of pride.” (Fortune: March 14, 2016)
There’s only one thing standing in the way of employees knowing the impact of their work – your consistent feedback as a manager and leader.
As I work with current and emerging leaders in pre-rapid growth organizations, this is a recurring theme in many of my meetings. Leaders aren’t giving regular, ongoing feedback to their team members. Or, the leaders themselves are craving kudos or thanks for extra effort or even keeping the wheels on the bus during fast-paced growth periods. Team members simply want feedback – good or bad – to get a sense of where they are and how they need to improve to get to the next level of improved performance.
Why isn’t it happening more frequently?
1- There’s a misconception that the annual review is for feedback, and the generosity of a mid-year review provides plenty of additional opportunity for this exchange. Why provide more? Unless of course there’s a big problem or mistake, then the team member can take a trip to the proverbial woodshed. Here they finally get attention and learn about the error or behavior which may have been prevented if there had been regular communication.
2- Many leaders use the excuse of “busyness” as a reason for lack of immediate feedback, weekly or bi-weekly meetings. It’s a daily sprint during the rapid growth phase. So, just getting the work done is often the order of the day. Attending to the essence of leadership, which happens to be leading and developing others, takes a backseat.
3- The leader feels it’s HR’s job or the coach’s role to fix an issue or recognize excellence. Change happens most frequently when there are multiple and reinforcing feedback points. HR and the coach only know about what is reported, while the leader knows about the behavior sooner and typically firsthand, allowing for more immediate feedback to correct or compliment.
The most effective leaders make their people a priority.
Servant leadership involves the sacrifice of time and energy to make others successful. If you’re not investing time in your people, this may be a good opportunity to revisit what’s most important in the role of leadership. What are you omitting that you should start committing to?
Do you want to start committing time to feedback but don’t know how?
1- First, recognize and commit to what the role of leadership embodies. People can’t perform to the highest level of expectations if those aren’t communicated and feedback on them isn’t delivered on a regular basis.
2- Set up regular meetings and respect the other person enough to HONOR them and the time – weekly, bi-weekly or monthly depending on the tenure and need for communication for each team member. Nothing says, “You’re not important to me,” like forfeiting time or constantly cancelling meetings with them.
3- Balance the feedback by using a positive-negative-positive approach. The goal is to build up, not tear down.
4- Make sure it’s a dialog. By asking the person their thoughts on a specific situation or performance first, you can set the stage for a conversation, not an oration.
5- Put yourself in the other person’s shoes. Reflect on when you were at the same stage in your career. What was most needed? Most likely you’ll arrive at the answer of communication and feedback.
Simply put, “We all need people who will give us feedback. That’s how we improve.” – Bill Gates
Thirty minutes into a 10 minute agenda item, boredom and frustration kicked in mightily among the group. The presenter had been told she had a maximum of 10 minutes for a “brief summary overview” of a project. This person was seasoned, and smart, so she had to know the word brief meant “of short duration.” The words summary and overview were also strong clues. Yet at 3 times the allotted limit, she was still going.
How can we all become better at being brief?
We don’t have to be Einstein to know the importance of asking the right questions. The late 
· ACTIVE LISTENING is one of the four key identifiers of high emotional intelligence (Inc., May 2017).
This concept can also translate to professional and working relationships. Is anyone else noticing that follow through and follow up are increasingly becoming amiss? What’s causing this? Are certain individuals prone to the pattern based on their situation or style?
Aggressively use and honor your calendar. Have you promised someone you would follow up next month? Put it on your calendar right then. We’re all wired continuously, so there are no excuses.
However, healthy creativity, can unfold in many ways in any functional area. Most everyone can unleash this skill when they allow themselves the opportunity.
At the beginning of each year, many feel internal and/or external pressure to make the traditional New Year’s resolutions. Those arguing resolutions are too esoteric may pen more measurable and realistic aspirations, or goals. Some opt out of the ritual altogether. Whatever camp you’re in, let me suggest changing up or even expanding upon your approach for this year.
This year my word is MEaningful. As I turn 55, I don’t want to waste any more time on situations or issues that don’t bear significance and true meaning for what’s important to ME. The freedom to decide where I do and don’t invest my time feels liberating as a new chapter will be written this year. Since time is an “appreciable asset,” it is increasingly becoming one of my most important.
As we read most any business publication, watch 
To honor the integrity of culture, we must all walk the talk, as the old saying goes. It’s not only what we claim about culture, it’s about what we do at the inner-most tactical levels of the organization – whether it’s driving financials or any other metrics by which we define and measure success.
In one firm, this act is believed in and passionately embraced and lived out by the top leader. He epitomizes grace and embraces the concept with most every action. How does it show up? By giving everyone the benefit of the doubt, by believing at his core his team wants to do their best, and that their mistakes are a blessing and necessity in improving their climb toward more personal and organizational growth. He is vulnerable and transparent, humbly admitting his own mistakes first, and confessing when he doesn’t have the answer. He seems to be forever grateful, positive and kind. Everyone who knows him professes his essence as true, unadulterated leadership at the core.
What have I concluded? Grace is not reserved for spiritual contextualization only. It is meant to be in the trenches with us every day – in life and at work. To truly honor ourselves and others we have to live from grace. It’s an ongoing act that needs to show up over and over again. Show me a top leader that practices grace, and I’ll show you the healthiest of organizational cultures with thriving leaders and team members, loyalty of all stakeholders as well as long term and sustainable financial results.
My husband tried to prepare me more than once, “You’ll leave something there, but you’ll take something far better out with you.” As we started the trek from the North Rim of the Grand Canyon at 5:30 a.m. with two of our five kids, his advice kept repeating in my head. Yes, I anticipated nature’s splendor, expected physical discomfort and was counting on reaching the opposite rim before dark. What else could possibly happen in THE canyon that would be so impactful?
There was a complete surrender to the conditions that were out of our control – the heat, the terrain and the altitude. We could only control the training undertaken in our preparation and making sure we consumed sufficient water and nutrition the day of the hike. Having never trained in these exact conditions, we weren’t sure how our bodies would react. We found out quickly. The temperature variance was 50 degrees in about 4 hours and the elevation difference was about 6,000 feet for both rims. We absolutely knew we weren’t in Kansas anymore.
In the canyon I became intimately present with myself and my Creator. It was transforming to experience the diverse and breathtaking beauty, the connection with nature and to hear only the internal beat of the drummer. The many proven benefits of connecting with nature were illuminated.