BID® Daily Newsletter
Oct 25, 2021

BID® Daily Newsletter

Oct 25, 2021

Three Ways To Become A Better Manager And Retain Employees

Summary: With the employment market stretched, retaining employees is more important than ever. Since the biggest reason employees leave is bad managers, it is a good time to make sure that your managers have the necessary skills to keep employees from straying. Here are three important ways that they can do that. identifies a poor leader as someone who disrespects employees, lacks integrity, and communicates poorly. There have definitely been a plethora of movies covering bad bosses. From 9-to-5 in 1980, Working Girl in 1988, Office Space in 1999, to Horrible Bosses in 2011, most of us have experienced a bad manager on the big screen. Yet, many experience bad managers in real life too.
Now is the opportune time to have meaningful discussions with your managers to ensure they support their employees and the company culture. The biggest reason that people leave employers is bad managers. With the pandemic disrupting labor and creating shortages, it is an important time to confirm that managers have the skills to not only effectively lead their teams, but also inspire the team members to stay. Helping managers become better bosses ultimately enhances employee job satisfaction and overall productivity. We share three important ways that managers can support and inspire their employees.
1. Remember to coach not micromanage

We all know it can be easier just to do the work, instead of coaching and encouraging your employees. It is also hard for some managers to stop micromanaging as their employees work on projects or solve issues on their own. Not only do employees not appreciate the micromanager, but this can lead to dissatisfaction and disengagement. According to one survey, 85% said that their morale was down because of micromanagement and 69% of respondents were thinking of changing jobs.
Asking for regular updates can help allay some of the micromanager’s tendencies and provide a channel for ongoing communication, especially with remote employees. Managers can use these updates to coach employees on areas of development, without discouraging them with constant input. Goals should be established upfront, which allows employees to prioritize their work. Managers can guide and support as needed.
2. Encourage positive feedback

Just as it is important for managers to coach employees, it is also crucial to provide feedback for a job well done. Assuming that people know they are doing a good job is a big mistake that can lead to employees feeling undervalued. Positive feedback is so important that 83% of people actually value praise from a manager over receiving a gift. While feedback on improvements to be made shouldn’t necessarily be avoided, managers should look to balance it with positive observations.
Providing positive feedback can be as simple as sending a text message acknowledging a successful interaction with a customer or a project finished on time. Specificity helps to show employees exactly where they are effective. Supporting your employees with positive feedback not only makes them feel a sense of gratification, but it can build loyalty and give them a deeper sense of belonging too.
3. Help people develop in their careers

Helping employees position themselves for more responsibility and better opportunities down the road is beneficial for both the employees and the organization. Some worry that this would mean that the employee will eventually vacate that role. But failing to support an employee’s career growth is a mistake. It often creates resentment and a lack of motivation, which can drive them to seek better opportunities outside of your institution faster. Giving people added responsibilities and training them in new skills can broaden their opportunities internally and increase employee retention. For instance, those interested in learning more about data analytics and technology could fill an important void as employees with these skills are hard to find.
These days, managers have a lot on their plates with a tight labor market, making it more critical than ever to make employees feel valued. Remembering these three tips puts you on track to boost employee morale and retention, so you can focus on ending the year strong.
Subscribe to the BID Daily Newsletter to have it delivered by email daily.

Recent Articles:

Harnessing Digital For Hyper-Personalized Service
Nearly 40% of American adults are now using mobile banking apps. With the pandemic accelerating existing digital trends, many community financial institutions may be wondering if expanding technology threatens their highly personal customer relationship model. But digital technology can be a powerful way to enhance the personal touch. Here are some ideas to get you started.
Do You Have Secure Endpoint Security?
By 2025, experts say that 75.4B IoT devices will be connected globally, which is more than double from 2021. This surge in connected devices increases the opportunities for cyber thieves to find vulnerabilities and cause havoc for entire business systems, including community financial institutions. Do you have updated endpoint security to stop them?