Sudheer sat in his office staring at the resignation email from one of his talented team members. It is the third resignation this year, and he knew that his boss and HR team would certainly question this resignation. The previous quarterly employee survey was not encouraging for Sudheer, and this resignation is worrying him.
What do you think Sudheer need to do instead of worrying, getting upset or surprised by the resignation of a high performing team member?
As per SAP and Oxford Economics survey, less than half of high performers are satisfied with their jobs, and more than one in five is likely to leave within six months.
A study by Personal Psychology, a high performer can deliver 400% more productivity than the average performer. Despite this, leaders do not chart out a plan to engage, motivate and nurture high potential employees.
To avoid losing high performer employee, Sudheer needs a different strategy as follows.
High performers significantly care about their pay and rewards they receive vis-à-vis their performance. Hence, compensation strategies must include differentiation, keeping in mind market demand.
Even the high performer needs performance feedback and engagement to avoid dull moments, to break the routine and a feeling of being stuck or stagnant. If ignored, they may look around for better options.
Top performers may have an exciting career roadmap and forever seeking opportunities, and if they feel that they are not with the right leader or organization, it will frustrate them. If, they get passed over for promotions due to redundant processes, it can trigger their search outside to keep career momentum.
As per HBR, one in five employees believe their aspirations are quite different from what the organization has planned for them. Hence, engaging high performers regularly in career development discussion and achieving in the organization is crucial.
High performers are more productive than the average employee, overworked and likely to be burnt out. Due to their high productivity, leaders sometimes take advantage of them. If this increased productivity is not dovetailed with great rewards, it will surely be one of the derailers for them. Thus, creating systems to reward, recharge and relax high performers are essential.