Gentelligent Practices: Retention Causes Flat Tires
Winter in Michigan means the season of flat tires is upon us. That's because we probably have more potholes in our roads than any state in the nation—thanks to the big temperature fluctuations. We need roads that contract and expand with those temp swings without cracking. It’s doable. German roads model the elasticity needed in paving materials to last decades without repairs. So why can’t we, too, “fix the damn roads” as our governor’s famous campaign promised? Well, if you ask me, stakeholders lack the will to make a big financial investment upfront to save money in the long run, opting instead for Sisyphean road repairs and flat tires. But, like our roads…I digress.
Okay, so what does this have to do with “Generational Diversity?”
This week I was asked what “flat tires” my clients experience that make them ask for my help. What really interferes with their ability to provide services for their clients?
The answer was:
Retention. Turnover is expensive. The Society for Human Resource Management (SHRM) reported that, on average, it costs a company six to nine months of an employee's salary to replace him or her. For an employee making $60,000 per year, that comes out to $30,000 - $45,000 in recruiting and training costs.
Time to do some math. Grab a piece of paper and calculate how much of your budget went to recruiting and onboarding due to unplanned attritions in the last year. Use the SHRM estimates. This will give you an actual number.
Now think about what you could do with those funds. What have you always wanted to do if you just had a few extra bucks? What project that really energizes you could you tackle if you weren’t bogged down by recruiting and onboarding?
And, let’s be honest—bragging rights are huge. Imagine leading a department with higher morale and productivity because committed multigenerational teams thrive and you have budget numbers to prove it. What if people came to you asking how you do it?
So—how do you fix the flat tire of high workplace attrition?
Begin by recognizing that generational differences contribute to your retention flat tire. We have up to five generations in the workplace today, and all of them share these common values:
Need for respect.
Being recognized as a competent individual.
Feeling connected to others.
Autonomy to work without being micromanaged.
All the generations—Traditionalists, Boomers, Xers, Millennials, and Zoomers—have different ways of manifesting their values. We all want the same thing, and we simply have different ways of going about it.
How can a young person seek purpose, career growth opportunities, a positive work culture, healthy work-life balance, and recognition for their contributions when they are surrounded by misunderstanding, miscommunication, mistrust, and isolation by older generations?
How can an older coworker or manager provide young generations with support if all team members are not equipped with the knowledge and skills to understand why generational differences exist, why they matter and how they can be harnessed for company wins?
An organization, just like a tire, gets the air/top talent sucked out of it without a proper support system.
What to do? Call Generation IQ - the AAA of Retention flat tires!
With a quick assessment, we can pinpoint the source of the generational friction.
We can devise a quick intervention to get you back on the road.
Better yet, we can work together to “fix the damn roads” that cause the flat tires. We can create team systems with enough elasticity to accommodate the fluctuating needs of 60 years of varied experience, just like our roads need to accommodate 60-degree temperature fluctuations in a week.
Next time I’ll talk about what generational retention road repairs look like.
Do you have the willingness to do whatever it takes to avoid a spring/summer season of fixing potholes?