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Strategies for Effective Team Retention in Your Business

As this crazy year rounds itself up, it’s time to start looking at strategies for effective team retention in your business. Well, there are plenty of things I’m sure you’re looking forward to doing to finish off 2020. But why should Intentional Retention be at the top of your list?

It’s become pretty clear that team retention is a hot topic after speaking to many allied health business owners over the past several months.

I’ve been hearing a lot about unsettled teams and things becoming a little unglued. 

“What can I do to keep them onboard?” “What am I doing wrong?”

If you’ve found yourself struggling with finding powerful strategies for effective team retention, then this week’s episode of the PPMP Podcast is here to help.

I dive into all-things team retention, including the common trends and problems I’ve noticed when speaking to many other team leaders.

Team retention is about looking at things in a strategic and intentional manner as well, rather than just in a hopeful kind of way.

And that’s exactly where the term “Intentional Retention” comes into play in this week’s episode.

Intentional Retention means that you are striving towards retention in a purposeful and strategic way. Get rid of the “I hope they like me” talk and the “fingers-crossed” attitude.

Instead, think about what it’s going to take for your retention strategy to shift from hopeful to know-ful (there’s a brand-new word you can add to your business dictionary).

To get you pumped before listening to the whole episode, here’s a quick summary of all the key points that make up Intentional Retention.

 

Recruitment & Retention – Two Sides of the Same Coin

We all know that recruitment is the flip side to retention. Yet why is it that so many business owners don’t have a strategy in place for retention?

You don’t want to be losing more teammates than you can effectively recruit, which is why you need to be doing both.

So many of the business owners that I work with are experiencing increased success with recruitment. Nothing excites me more than when I hear “We’ve got three coming on in a few weeks” or “We’ve got four signed up for February” from a client.

While there’s no doubt that we must celebrate these recruitment victories (especially considering the onset of the pandemic), you can’t let team retention slide off your radar.

It’s so easy to brush it off and rely on pure luck and hope when it comes to keeping team members onboard. 

That’s why it’s time to shift your activities and beliefs from hopeful to know-ful.

When identifying strategies for effective team retention, you need to bring in strong management, solid leadership, and purposeful actions.

 

Trends & Problems 

This episode gives me the chance to share my observations of patterns I’ve seen with team retention. Many business owners behave in a way that gives them hope that their team will like them.

Take a moment to stop and really think about your attitude towards your team. 

Are you constantly thinking about whether you’re liked? Do you find yourself wondering “Will they like me?” after recruiting someone new? Ever thought, “We’re good enough for them to be staying”, and left it at that?

Sometimes things can get a little inconsistent and boundaries become fuzzy with that type of behaviour. There can emerge a sort of vagueness in the business in terms of behavioural expectations.

Are you fully tapping into the deeper motivations of your team members? What is it that really flies their kite?

Remember: A good business might not be quite enough to keep them absolutely and fully engaged.

Another problem I’ve noticed is with vanilla leadership. 

There certainly aren’t many of you out there that fall into this category, but it can happen in the busy-ness of business.

The idea of team retention strategy can end up falling into the forgotten bin, thus becoming a lost thought and a hopeful prayer.

In the episode I delve even further into all the problems and trends I’ve noticed, so give it a listen to identify where you might land. Once you can pinpoint exactly what the problem is, you can manage it head-on. 

 

Creating the Perfect Strategy

There are three elements that make up an effective strategy for recruitment and team retention:

  • Expert Management
  • Expert Leadership
  • Executed Actions

So, what do they all mean? 

Expert Management is all about the intelligence you have for being able to manage your business effectively and efficiently. Rather than a hopeful attitude, you have a focus strategy for retention. 

Expert Leadership is about bringing the best version of yourself to your leadership role in the business. Perhaps the quote, “People leave their managers rather than the organisation”, comes to mind?

Executed Actions are the required actions that will bring your team to a point where they truly understand their role in your business’s future.

Now, of course I’m scratching the surface here and you’ll need to listen to the episode for the full insights.

But at the crux of it all, I want to get you thinking about what you can be doing sooner rather than later to retain the people in your team.

 

Free November Webinar – You’re Invited!

Even though this episode is an eye-opener in itself, I want to take things further.

That’s why I’m running a free webinar in November.

I want to give you all a proper 90 minutes to take a thorough look at the management, leadership, and actions you should be taking in your business.

With this webinar you can position yourself as strongly as possible with a strategy for effective team retention and for recruitment.

Share the great news with your friends – the more the merrier! Can’t wait to see you there.

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