As a CEO, one of the most important aspects of my job is ensuring that our company retains its top talent. In today’s competitive job market, it’s more important than ever to create a work environment that not only attracts the best employees but also keeps them engaged and motivated. In this blog post, I’ll share some of the lessons I’ve learned about employee retention and how to create a culture that fosters loyalty and growth.
I would recommend two types of approaches to evaluate people in your company.
Ship Management Approach
The first approach is the ship management approach. Here you divide your people into three categories.
- Anchors — Stoppers
- Riders — Sitting on the boat and ready for conversion to productive or destructive way.
- Rowers — People who run the company’s backbone operations.
Further, at the granular level, you can refine your sorting based on the “Stainer Grading Approach”. This approach divides the best people into three types of embedding units for your operating body.
- Vision Embedding — People who fit in your company vision, in long-term planning.
- Mission Embedding — People who fit your company’s mission for a 1–2-year time span. Like you are working on a small but important mission. You have people who are specialized in that mission. You can retain that person for your short-term plan.
- Execution Embedding — Those types of people are important people for your organization. But they want their sales and against this, they are willing to execute casual tasks with perfection. They don’t want to participate long term goals, or they don’t care about the future of the company.
In conclusion, retaining top talent is crucial for the success of any company. By implementing the ship management approach and the team sorting management approach, CEOs can effectively evaluate their employees and create a work environment that fosters loyalty and growth. It’s important to recognize the value of each employee, whether they are anchors, riders, or rowers, or whether they are embedded in the company’s vision, mission, or execution. By understanding the strengths and motivations of each team member, CEOs can create a culture that not only attracts the best talent but also keeps them engaged and motivated to contribute to the company’s success.
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Signing Off,