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I recently met with the leadership team of a company that has approximately 140 employees to discuss their difficulty in retaining employees.
They talked about the frustration that accompanies making a hire, then losing another, only to fall further behind – in turn losing revenue, time, momentum and morale.
Hearing about their difficulties, we discussed that a potentially effective way to retain employees is for leaders to consistently hold 1:1 meetings to connect with, invest in and care for each of their direct reports.
These meetings enable leaders to understand where each team member is at and proactively address any developing issues before they become the reason the employee leaves.
Varied teams
One of the company leaders said, “1:1 meetings can work great for the office team, but how do we retain employees on the plant floor or in the field?”
I asked him why he would only have 1:1 meetings and development plans for the office team and not everyone in the organization.
In fact, someone could make the argument that investing in and retaining production or field team members is even more important, because of the people shortages in these areas.
The leader was quick to agree, as open positions in production and the field have limited the company’s ability to increase sales the last couple of years.
A great example of the success implementing 1:1 meetings can have on a business is that of a distribution company I work with.
Every day they have more than 50 technicians in the field servicing equipment in their customers’ facility.
Like many other service organizations, over the last five years they struggled to retain their technicians.
Recognizing the need to build a deeper connection with their technicians, the company began holding monthly 1:1 meetings with their technician team.
As a result, their technician retention rate is at an all-time high and even some of the technicians that had left have since returned.
Game changer
Though acknowledging the potential benefits of the meetings, one of the leaders wondered how he could possibly track, monitor and manage 1:1 meetings and professional development plans for 140 team members.
Manually tracking 1:1 meetings can be time-consuming and frustrating – so much so, that many development processes prematurely end.
Fortunately, technology can help change the game and make 1:1 meetings easier and more effective.
Using software to manage 1:1 meetings has several benefits, including improving employee retention.
Access to regular feedback and support from leaders can also increase job satisfaction, engagement and make employees feel more valued.
Candidly, retention often increases when the employee knows the company genuinely cares for them and their future.
Consistent 1:1 meetings can help illustrate to all team members that the company cares for and wants to invest in them.
Another advantage of using software for 1:1 meetings is the role it can play in succession planning – by being able to identify employees who have the potential to move into leadership roles.
By using technology to monitor the progress of these high-potential employees, leaders can ensure that they are receiving the necessary training and development to prepare them for future leadership roles.
Technology can also provide leaders access to what other leaders in their organization are investing in and how they are developing their teams.
In today’s talent economy, retention is typically the first objective of most organizations. Mastering the discipline of 1:1 meetings can be a best practice for growing organizations, regardless if they have 14 employees or 140.
And the streamlining process that software can offer businesses can be a game-changer when it comes to effectively implementing and excelling at 1:1 meetings for employee retention.
Steve Van Remortel is Founder/CEO of MyTalentPlanner, Chief Strategist & Talent Advisor at Stop the Vanilla, LLC and is a speaker, trainer, advisor and 3x author.
