If you follow tech news at all, you’ve probably noticed that a lot of the most successful, innovative startups of the last ten years have been started by ex-Googlers. Google clearly has a plethora of extremely talented people working for them, but can you even imagine how much bigger and more innovative Google could be if it did a better job of holding onto its top talent?
There isn’t a company out there that hasn’t struggled with retaining top talent. Whenever a long-time employee leaves, they take a lot more than their talents with them – they also take the years of time, energy, and money that you’ve put into developing their talent. The problem of retaining top employees is no small matter:
- According to Towers Watson, 56% of companies report difficulty retaining high-potential employees and top performers.
- The Bureau of Labor Statistics found that only 29% of employees feel valued in their jobs.
- A 2013 Career Building survey reported that almost 25% of employees said they will change employers between 2013-2014.
So what can be done? How can you create a work environment in which your best employees feel valued, satisfied, and secure enough to remain under your employ? How can you start the process of workplace conflict resolution in order to keep your employees happy? Do you even know what the conflicts in your office might be?
One tool that we have found particularly helpful in fostering higher employee retention is employee assessments. When properly utilized, employee assessments provide business leaders with detailed breakdowns of their workers’ personal values, their greatest workplace strengths and vunerabilities, as well as a strong understanding of how a person functions best in their job.
At Level Up Leadership, we use a suite of three different assessments that provide insights into an employee’s wants and needs. We go over the results with employers and employees, giving both sides the information they need to understand what might be amiss in their workplace relationship.
For example, an assessment may reveal that one top employee would be happier with a more flexible work schedule, and that another would find greater job satisfaction if they were given the opportunity to manage their own team. Of course, in a perfect world employees would be able to state such preferences clearly, and bosses would respond appropriately, but often employees themselves don’t have a strong understanding of how they work best, or their may be communication gaps between employer and employee that hinder positive changes.
Assessments aren’t a magic cure-all, but they can be extremely effective at helping employers and their employees understand each other better, creating the starting ground from which to learn and grow together.