I noticed this image in an article on leadership.
And it struck me that articles and publications on leadership continue on a regular basis. I did a bit of research on the status of leadership in business and industry. I found this to be my preferred image representing the topic.
It does a good job of representing the differences between management and leadership. It also certainly depicts the complexity of great leadership. That is, the many and varied actions, traits and behaviors necessary to lead and manage effectively.
So aside from terminations for cause and business downsizing/involuntary turnover driven by economic fluctuations, the leading causes of voluntary employee turnover is, by many sources, laid at the feet of leadership (failures).
Fifty-two percent of exiting employees say that their manager or organization could have done something to prevent them from leaving their job. (Gallup Poll). And according to indeed.com, here are some of the major causes for employee turnover:
The Bureau of Labor Statistics reports the overall turnover rate is 57.3 %, but that number drops to 25% when considering only voluntary turnover, 29% when considering involuntary turnover, and just 3% when looking at only high-performers.
Almost 25%, that is huge and expensive. And considering high performers make up a very small percentage of the workforce, that turnover is insignificant as the heart of the workforce is experiencing the greatest percentage of voluntary turnover.
It Is All About Leadership!
Look at the causes of voluntary turnover, the reciprocals of those causes are the solutions!
“Join a company, quit a boss”.
***** S&E *****