Losing top talent is a leader's nightmare. It's not just about the financial cost of replacing good employees; it's also about the loss of industry knowledge, the impact on team morale, and the potential damage to company culture and reputation. Learn more about why top performers leave and, more importantly, how you can prevent it and retain your best employees.
The Pressure of High Performance: 5 Red Flag Behaviors
Top-tier talent consistently delivers exceptional results, drives innovation, and sets the bar for the rest of the team. However, the mounting pressures on even the most eager overachievers can take a toll, leading to more stress, burnout, and mental health challenges. Eventually, the workload overwhelms, leading to a loss of interest or departure for a better offer.
This is especially the case in behavioral health and human services where burnout and compassion fatigue are prevalent. For instance, a 2022 study of a community-based mental health services organization in New York found that over 70% of clinicians surveyed were experiencing high levels of burnout.
So, what exactly are the signs a top performer is leaving?
- Disengagement: Has the employee lost their usual spark? Are they less enthusiastic about work, withdrawn from team interactions, or not participating in meetings? Lack of employee engagement could indicate a waning interest in their role.
- Absenteeism and tardiness: Taking more sick days, arriving late, or leaving early can signal a lack of commitment. This red flag may indicate that the employee is interviewing, using up accrued time off, “quiet quitting,” or simply checking out mentally.
- Decreased productivity: If your high-performing employee's output has taken a noticeable dip, it's worth investigating. Are they overwhelmed, disengaged, or facing personal challenges?
- Avoiding long-term commitments: Is your top talent hesitant to take on new projects or commit to future goals? This could indicate they don't see themselves with the company long-term.
- LinkedIn and social media activity: You may notice a change in the types of social media activity your employee is posting. For example, a decrease in posting about their current job might indicate they are becoming disengaged. A profile makeover and the use of a LinkedIn “open for opportunities” badge are possible signs a top performer is leaving.
What Drives High Performers and What Do They Need to Stay Happy?
Figuring out the motivation behind high performance is an age-old quest. While we may never know for sure, we can look at some common tendencies. For example, top-performing employees are often driven by a growth mindset and eagerly embrace opportunities to learn. They are also known for being excellent goal setters, self-directed, and focused on improving their own habits and workplace behaviors.
Research suggests that star performers are more prone to burnout when they feel unappreciated, unrewarded, or expected to do more than others. They may also feel discouraged and more likely to look for a new job opportunity if they don't receive opportunities for growth and development.
Retaining top talent is a must for success, as it helps BHHS organizations maintain institutional knowledge, high morale, and satisfied customers. However, for a retention strategy to be effective, you must strike a delicate balance between harnessing a team member's drive and ambition and ensuring their well-being and engagement remain intact. While recognizing the signs a top performer is leaving is helpful, having proactive measures in place is optimal.
This is where your organization's employee value proposition (EVP) becomes crucial. Your EVP is different from your mission statement, and it's more than a compensation package. Think of it as a strategic human resources tool to attract and retain high performers by recognizing and rewarding their contributions while also prioritizing their well-being.
What Are 3 Employee Value Proposition Must-Haves?
According to research and consulting firm Gartner, organizations that effectively deliver on their EVP can reduce annual employee turnover by nearly 70% and increase new hire commitment by nearly 30%. However, to attract and retain top talent, you need to go beyond simply stating your EVP – you need to live it. Here are three ways to effectively deliver on your employee value proposition.
1. Align It With Your Culture
Ensure your company's values and behaviors reflect what you promise in your EVP. If you tout work-life balance, leaders should model it. If you emphasize professional development, invest in training programs. Remember, authenticity matters. Employees can spot empty promises a mile away. Make sure your EVP is a genuine reflection of your organization's culture and priorities.
2. Make It Tangible
Go beyond the basics of healthcare benefits and retirement plans. Consider adding perks like tuition reimbursement, student loan assistance, employee wellness programs, or even pet insurance. Recognize that one size doesn't fit all. If possible, offer flexible scheduling, remote work options, or generous parental leave policies. These could be key differentiators for retaining top talent in BHHS where an organization's funding and salaries tend to be lower.
Moreover, by clearly outlining career opportunities within each position, you can empower employees to take ownership of their development and explore different paths within your organization. Regularly recognize their proficiency, offer challenging assignments, and provide opportunities to gather feedback as well as give it.
3. Communicate and Celebrate It
Don't just tell new employees about your EVP during the hiring process. Reinforce it through internal communications, company-wide meetings, and performance reviews. Publicly acknowledge employees who exemplify the values outlined in your EVP. Celebrate their wins and create a culture of appreciation.
For instance, ContinuumCloud's HCM platform empowers teams with Shout Outs, a powerful employee engagement tool. This peer-to-peer recognition program lets employees publicly celebrate colleagues who go the extra mile, promoting a culture of appreciation and teamwork.
Support High-Performance With Flexibility and Fairness
A workplace that adapts to change and promotes a sense of belonging and equity directly translates to better employee retention. Employees are more likely to stay with organizations that value their well-being, provide opportunities for growth, and treat them fairly. Indeed, studies looking into the Great Resignation have found that “toxic work culture” contributed to the mass exodus.
Human capital management (HCM) solutions empower organizations to build resilience, flexibility, and fairness into the very fabric of their workforce management. Through robust features like Position Control, organizations can clearly define roles, responsibilities, and career paths, ensuring transparency and setting the stage for equitable opportunities.
Flexibility is another key aspect of HCM. With features that support remote work management, flexible scheduling, and skill-based assignments, organizations can create work environments that address diverse employee needs and preferences. This not only improves work-life balance but also taps into a wider pool of talent, as individuals are attracted to companies that offer flexibility.
Furthermore, performance development and talent management tools help identify skill gaps and provide targeted training while fostering a culture of learning. Organizations can assist employees in adapting to new challenges and contributing to the overall resilience of the workforce.
Invest in Workforce Resilience and Boost Employee Retention
It can be a bit of a guessing game when trying to recognize the signs a top performer is leaving. As such, cultivating a plan to nurture high performance in all team members can be a more definitive option.
When high-performing employees feel valued, supported, and empowered to grow, they’re better equipped to handle challenges. When they understand their contributions have an impact, they’re more likely to engage in their work, commit to your organization's goals, and remain steadfast in the face of adversity. By building individual flexibility for your best employees, you, in turn, contribute to the organization's overall resilience.
HCM software can help with employee retention by streamlining onboarding and training, automating HR tasks, and providing performance monitoring tools. These tools can help employees feel supported and empowered, which can lead to higher job satisfaction and retention.
ContinuumCloud’s HCM platform isn’t just an HR tool for first-time applicants. It’s a comprehensive suite of solutions that streamlines talent acquisition and enhances the employee experience, contributing to higher engagement and retention. Best of all, these solutions can be tailored to meet your organization’s specific needs to help you fulfill your mission effectively.
To learn more about how these tools can assist you, connect with us today.
