The “great resignation” is the currently popular bus word. And it is certainly a serious challenge for employers big and small. The important question is how to deal with the situation in an effective and productive manner.
We must address the matter of the great resignation with a Win-Win mindset if we want to find sustainable solutions.
Speaking with business owners and corporate leaders one gets a multitude of reasons related to the phenomenon of people leaving their jobs by the troves. These reasons range from “people don’t want to work anymore” to “social welfare checks being too high” to “ridiculous salary expectation” and many more. There is significant research being done to better identify the actual underlying reasons. The findings of a recently published LinkedIn survey (The Great Resignation: How Did We Get Here?) indicated three main reasons:
- Bad Management
- Poor Work-Life Balance
- Lack of Benefits
These reasons can be tracked back to insufficient leadership effectiveness. Consequently, I like to offer a set of 9 leadership practices to reflect on which will help to alleviate the key causes for the great resignation.
-1- Mastery of authentic executive presence.
Master how to project mature self-confidence, poise under pressure, authenticity, empathy, compassion, and strength. Hone a blend of persuasive leadership competencies that inspire trust, enthusiasm, and buy-in.
-2- Mastery of communication & interaction skills.
Whether it’s a high-stakes meeting, a hallway chat with a colleague or a town hall meeting with the entire organization, failure to get the right message across in the right way can be costly in many ways. Effective leaders must communicate clearly and confidently at every level of the organization, from the boardroom to the water cooler.
-3- Mastery of conflict management skills.
Recognize and manage any conflict constructively, resolve disputes quickly. Effective leaders develop the skills that build collaboration and common purpose, maximize employee engagement, productivity, and retention.
-4- Mastery of influencing & sales skills.
An effective leader must be proficient in influencing others and the ability to sell ideas, strategies, products, services, and change to all stakeholders involved. Being a “smooth talker” does not make an effective influencer or (sales) professional. Honing active listening skills, deliberate open mindedness, and producing the best questions to make people think builds the foundation of an executive influencer.
-5- Enhanced emotional & social intelligence.
Considering the accomplishment of shared objectives, EQ matters as much as IQ. Acquiring and implementing the skill sets that drive success like team leadership and collaboration, how to build authentic trust, enhanced influencing skills, managing emotions, resilience, and conflict management are essential in achieving organizational results.
-6- Mastery of utilizing generational differences for competitive advantage.
It is the first time in human history to have 5 distinct generations actively participating in the workplace. Leaders who are prepared for this new reality can take advantage of the potential organizational energy, the inherent experience and expertise, and the organizational knowledge in an impactful way and generate significant progress.
-7- Mastery of creating a result focused culture of accountability.
Developing the skills to consistently challenge the status quo, establish meaningful objectives, define clear key results in a transparent format (i.e. OKR, goals) and follow through with the right conversations, feedback, and recognition (CFR).
-8- Mastery of leading diversity, inclusion, and belonging effectively
Diversity helps create a dynamic culture in an organization. The organizational culture is what leaders make it to be or allow it to become. Effective leaders are culture innovators and pay attention to a changing environment. D&I is one of the critical components of a healthy corporate culture requiring deliberate attention. Done well will create an enthusiastic sense of belonging throughout the organization.
-9- Mastery of strategic thinking & business planning
Effective leaders learn to become strategic thinkers, a skill that needs to be honed and regularly updated. Strategic thinking is the foundation for appropriate business planning towards sustainable profitability and desirable results.
Companies and organizations not struggling with the great resignation issue tend to have leadership following the above indicated leadership practices throughout their hierarchy starting at the top. What will you do?
Lead2succeed, stay safe, and help your team to succeed! If you would like to explore additional ideas about effective leadership or business strategy let’s talk!