The days of employees staying with the same company for decades are declining. Even five-year stints are becoming harder to find on a resume, and millennials are the generation most likely to job-hop if they aren’t satisfied. Because of this, as a CEO, it's critical to ask yourself: How can you inspire loyalty in your executive team and those they lead? What more can you do to ensure you are keeping your best employees for as long as possible?
I’ve worked with CEOs in a consultative role for more than 20 years, and in my experience, those who are excellent at retaining their teams (and are all around successful CEOs) often have the following five things in common. Here's how you can join them:
1. Stop, and make time to care.
Many CEOs are harried. You've likely heard them express that there isn’t enough time in the day for various reasons. For example, CEO’s schedules are often full of back-to-back meetings (many of which might not even be set up by them). I've found they are programmed to get up and go, work non-stop and optimize the day. While many colleagues at the top could see this as a required lifestyle for those in the CEO seat, a packed schedule doesn’t always lend itself to building relationships and trust.
I believe it's important for you to stop moving at this pace when you need to make a purposeful connection. To gain a sense of what is needed in certain moments, step into a conference room for a quick touch-base. Plan to have lunch with your team to build camaraderie. Seize an opportunity where you have some spare time, and ask a colleague if they can grab a coffee and catch up. No matter how you do it, remember that paying attention to your team and caring is part of your responsibility.