Digital Dealer - March 2020 - 8

DEALER OPS & LEADERSHIP

Culture

By
Dave Anderson
President,
LearnToLead

Three Tips to
Improve Retention

Common
Causes of
Employee
Turnover
Following are three of
the most cited causes of
employee turnover, in no
particular order.

B
No advancement opportunities or room to grow.

>

In over 20 years of speaking

with organizations worldwide, one
of the most common concerns
I see among leaders wishing to
measurably grow their organization is employee turnover. Without
question, people are the most important
component of an organization's culture,
and while some turnover is good (for
example, the removal of cultural misfits
like non-performers and toxic achievers), the costs incurred when your top
talent voluntarily walks out the door
are staggering. Many leaders are quick

8

[ d i g i t a l d e a l e r. c o m ]

to look out the window and blame the
competition's better benefits, increased
pay, and more.
The hard truth is, you can't control the
competition or afford to get involved in
wage wars with them - frankly I've never
known a person that became more loyal
through an increase in pay.
When looking at the countless business studies and reports on retention,
it's clear that the place we should really
be looking as leaders when it comes to
retaining our human capital is within the
mirror and on the things we can control.

Let's face it, high performers
want to grow, to be empowered, and to gain new
responsibilities. In some
organizations, this becomes a
challenge because there are
limited slots to advance into.
Let me stop you before you
even start using this as an excuse. If this describes your organization, you can still show
an employee how to grow
in their current position and
make an outstanding income
by doing the following:
Setting stretch goals. If
they don't make the individual do something other than
"business as usual" it won't
stretch or inspire them. This
is all about helping them
discover their potential, and
they'll never find out how far
they can go when you enable
them to play it safe.
Forming special rewards for top performers.
Great rewards should be
reserved for those that bring
immense value to the team.

March 2020

http://www.digitaldealer.com

Digital Dealer - March 2020

Table of Contents for the Digital Edition of Digital Dealer - March 2020

Digital Dealer - March 2020
Up to Speed|Tech, Dealer News, & People on the Move
Culture Three Tips to Improve Retention
Strategic Planning Strategic Planning for Sustainable Future
Leadership Five Lessons From Fearless Female Leaders
Spend Management Best Practices to Reduce Costs & Drive Profit
Fixed Operations What to Charge? How About a Little More Big Boss
Buy/sell a Generational Shift Is Boosting Buy/sell Activity
Meet the Speaker|q&a With Marketing Mastermind Phillip Stutts
Exclusive Interview With Jay Feldman of Feldman Automotive Group
Social Media q&a With Facebook
Speaker/session Spotlight|a Quick Look
Social Media Social Media Spring Cleaning
Ad Spend Marketing for Profit!
Cpo Toyota Led Record Cpo Growth
Fixed Ops Every Service Department Should Have a Salesperson Running It!
Fixed Operations
Digital Dealer - March 2020 - Digital Dealer - March 2020
Digital Dealer - March 2020 - Cover2
Digital Dealer - March 2020 - 1
Digital Dealer - March 2020 - 2
Digital Dealer - March 2020 - 3
Digital Dealer - March 2020 - 4
Digital Dealer - March 2020 - 5
Digital Dealer - March 2020 - Up to Speed|Tech, Dealer News, & People on the Move
Digital Dealer - March 2020 - 7
Digital Dealer - March 2020 - Culture Three Tips to Improve Retention
Digital Dealer - March 2020 - 9
Digital Dealer - March 2020 - Fixed Operations
Digital Dealer - March 2020 - 11
Digital Dealer - March 2020 - Leadership Five Lessons From Fearless Female Leaders
Digital Dealer - March 2020 - 13
Digital Dealer - March 2020 - Spend Management Best Practices to Reduce Costs & Drive Profit
Digital Dealer - March 2020 - 15
Digital Dealer - March 2020 - Fixed Operations What to Charge? How About a Little More Big Boss
Digital Dealer - March 2020 - 17
Digital Dealer - March 2020 - Buy/sell a Generational Shift Is Boosting Buy/sell Activity
Digital Dealer - March 2020 - Meet the Speaker|q&a With Marketing Mastermind Phillip Stutts
Digital Dealer - March 2020 - 20
Digital Dealer - March 2020 - 21
Digital Dealer - March 2020 - Exclusive Interview With Jay Feldman of Feldman Automotive Group
Digital Dealer - March 2020 - 23
Digital Dealer - March 2020 - 24
Digital Dealer - March 2020 - 25
Digital Dealer - March 2020 - 26
Digital Dealer - March 2020 - 27
Digital Dealer - March 2020 - Social Media q&a With Facebook
Digital Dealer - March 2020 - 29
Digital Dealer - March 2020 - Speaker/session Spotlight|a Quick Look
Digital Dealer - March 2020 - 31
Digital Dealer - March 2020 - 32
Digital Dealer - March 2020 - 33
Digital Dealer - March 2020 - Social Media Social Media Spring Cleaning
Digital Dealer - March 2020 - 35
Digital Dealer - March 2020 - Ad Spend Marketing for Profit!
Digital Dealer - March 2020 - 37
Digital Dealer - March 2020 - Cpo Toyota Led Record Cpo Growth
Digital Dealer - March 2020 - Fixed Ops Every Service Department Should Have a Salesperson Running It!
Digital Dealer - March 2020 - 40
Digital Dealer - March 2020 - Cover3
Digital Dealer - March 2020 - Cover4
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