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The Double Win

How to Solve Your Turnover Problem

The Double Win

Michael Hyatt

Management, Intentionality, Selfdevelopment, Education, Teamleadership, Personaldevelopment, Productivity, Self-improvement, Business, Achievement, Influence, Selfleadership, Leadership

4.81.5K Ratings

🗓️ 21 January 2020

⏱️ 29 minutes

🧾️ Download transcript

Summary

To lead a growing business, you need a strong team. But finding and keeping talent is a challenge. Sometimes it seems that good people leave faster than you can hire them. You’ve added all the perks you can think of, but nothing will stop the revolving door.  Why does staffing have to be so hard?  Our decades of experience have taught us that staffing, like everything else in business, boils down to one thing: vision.  You need to stop looking at the secondary causes of turnover, and address the underlying problem. Either you don’t have a vision, or your team does not understand it.  Don’t worry, we’ve identified three clear steps to getting your team rallied around your vision. Take these actions, and you’ll see turnover decrease and engagement skyrocket. You feel new energy in your business. And you find good people begging to join your team.  In this episode, you will—  Learn the real root cause of turnover.  Find out why this problem is particularly acute for managing millennials.  Identify the three steps you can take to improve retention.  Discover the difference between a vision statement and a vision script.  See the four key aspects of your company that you must clarify for your team.  Understand why the stakes are so high for employee retention.  Gain valuable tips for connecting team members to your vision for the company.  After you’ve listened to this episode, here’s your next step. Ask three of your team members this simple question: “What is the vision of our company?” Their answer will tell you exactly where to begin in solving your turnover problem. You can do this!  Have you shared Lead to Win? If you haven’t shared this podcast with a friend or coworker, would you do that right now? You are our very best source for discovering new listeners! Drop a link to this episode into a text message or your favorite social channel. Your friends will thank you. Don’t forget the hashtag #leadtowin.  And if you haven’t had a chance to review the podcast yet, we’d love to hear your thoughts. You can do that on iTunes or wherever you listen to podcasts. We’re eager to hear from you guys, and we do read every single review!  Resources from This Episode   The Vision-Driven Leader by Michael Hyatt     See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

This episode of Lead to Win is brought to you by Leader Books, Michael Hyatt's monthly book club for leaders.

0:07.0

You can learn more at lead to.win slash Leader Books.

0:12.0

Hi, I'm Michael Hyatt.

0:15.0

And I'm Megan Hyatt Miller.

0:17.0

And this is Lead to Win, our weekly podcast to help you win at work and succeed at life.

0:22.0

Today we're going to show you how to solve a

0:24.0

problem that plagues many businesses turnover.

0:29.4

Yeah, this is a really big problem because when you have a turnover in your business, whether it's really high or if you're running a small business, even just a few people every year. I mean it's expensive it's expensive

0:44.7

to recruit people the first time and train them and get up up to speed but when they

0:48.8

leave you lose momentum on projects you disrupt the goals that you're pursuing, and honestly it's

0:55.0

demoralizing for your culture and there's a real kind of ripple effect that you have to

0:58.7

do cleanup, not to mention the hiring of the replacement. This is the kind of thing that makes entrepreneurs

1:04.1

rethink their vocation. It's like does it really have to be this hard? Maybe I

1:08.1

should just go back to work for the man. Yeah this is when you say where do I go to resign?

1:11.6

Exactly. You know and it can feel like

1:14.0

honestly you're the only person committed to your vision you know that you're

1:17.8

you're struggling to keep people and you're also struggling to keep the

1:20.7

vision of your company alive and it just doesn't seem to catch on and

1:23.7

you're like what's going on? Well today we're going to give you three steps to

1:27.5

retaining your top talent but before we do that let's bring Larry on.

1:31.1

Hey Larry. Hey Larry. Hey Larry, hey guys to be here. I just wanted to let you know this would be my last day.

1:36.1

I thought you were sorry for a second. I like like just for a half a second.

...

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