07 Jun Is Your Firm Experiencing Too Much Turnover?
Has your firm taken a few 🥊punches to the gut🥊 when it comes to the #greatresignation ?
If indeed this is the case, and you want to bring down your rate of attrition, you should do a deep dive by asking some of the following questions:
📌Is one department experiencing more churn than the others?
🤔If so, you should look at things like the quality of leadership within the group or the quantity and quality of backlog compared to your competitors.
📌Is there a high percentage of women saying ✌🏽?
🤔If so, you should consider things like flexibility when it comes to child care or a deep rooted “good ol’ boy network” that may be hindering the advancement of women in your organization.
📌Are you losing young engineers who are finding a fast track to management and leadership?
🤔We are seeing many young engineers in the 5-8 year experience range being hired as Project Managers, where in years past 10+ years of experience were needed to become a Project Manager. So are you training young engineers at an earlier age to become PM’s or are you resisting this change in the marketplace?
So how can this problem be minimized?
👉 Leaders must be good listeners and good observers of staff to catch any issues or concerns ahead of time, before it’s too late.
👉 Exit interviews that are honest and confidential can be extremely important in providing feedback as to what prompted an employee to leave. If you witness a trend, those concerns must be addressed before the bleeding gets worse.
👉Annual reviews are often too late – leaders should be evaluating and meeting with employees on a quarterly basis to make sure that their desired career path remains fully visible. Should your employee begin to veer off the path, for whatever reason, meeting quarterly provides enough time to get back in the lane without driving over the edge!
👉Be aware of what trends you are seeing in the #civilengineering market place, and BE FLEXIBLE. No need to jeopardize your core values, but you need to be nimble and adjust in an ever-changing workplace environment.
What steps is YOUR firm taking to make sure churn rates remain low/stable?