Category: Business Tips

Key Retention Strategies for Navigating the Great Resignation

It goes by many names. The great resignation. The big quit. Catalyzed by pandemic-related changes in both job structures and employee priorities, workplace turnover has been at an all-time high, and some businesses are more impacted than others.

In fact, a recent study from SHRM Hill found that about 4 million workers left their jobs every month in 2021.

This trend has prompted an increased focus on both recruiting and retention for many companies.

At Giant Voices, helping companies improve their recruiting and retention strategies is one of our core business consulting services. This month, we’re delivering a few key retention tips to help ensure you meet your business goals.

Key Retention Strategies for Navigating the Great Resignation | Giant Voices

Understanding Workplace Turnover

Some level of turnover is natural in a company. Especially for small business owners, it’s important to remember that an employee leaving doesn’t necessarily mean that you are doing something wrong.

Moving, changing priorities or interest in a new line of work are reasons employees leave happy, healthy workplaces.

Instead of focusing on individual transitions, keep an eye on your employee turnover rate to assess your retention strategy. In general, a 10% annual turnover rate (or a 90% retention rate) is considered strong.

Problems tend to arise when turnover rates are significantly higher than this baseline. High rates of turnover require you to devote time and money to replacing talent, and they can mean that your training and development dollars are benefiting your competitors (instead of your company).

A particularly high turnover rate can also suggest there is dissatisfaction within your workforce or, the incentives you offer are not competitive in the market. In this case, a trusted business consulting partner can help you identify issues and make a strategic plan to improve your retention rates.

Connect Work to Purpose

Burnout can be (and often is) caused by overwork. Recent research, however, suggests burnout is less correlated with the amount of work than it is with connection to a sense of purpose.

An employee working 45 hours a week is not a high burnout risk if she feels that her work is moving her towards her personal goals, whether those are related to finances, skill development, career advancement, or helping her company grow.

This same employee, however, might burn out working 20 hours a week if she feels that her efforts aren’t serving a purpose.

To help your employees connect their efforts to outcomes, make sure to recognize and reward strong performance and to provide clear pathways for skill development and advancement within your organization.

Foster a Culture of Feedback

Feedback is key for any healthy community. It can also be difficult to give and receive. To combat this, establish a structure (such as quarterly or annual reviews) to provide employees with consistent feedback, both reinforcing (or positive) and change-oriented (or constructive).

It’s also important to empower your employees to give feedback. Although employees can be reticent to provide feedback up the chain of command, feedback is a key source of information for leadership.

An environment in which an employee feels comfortable telling her boss if she is dissatisfied with an element of her job is one in which her boss can decide whether or not to make a change.

It’s also an inherently healthier environment than one in which the employee kept silent. In giving feedback, she is demonstrating both trust that her supervisors will accept the feedback in good faith and a continued investment in her workplace community.

To encourage a two-way flow of communication, make it a habit to ask your employees for feedback and demonstrate your appreciation of their input.

Although you might not be able to grant all requests, you can build goodwill by thanking an employee for giving feedback, giving true internal consideration to their comments, and following up accordingly.

This demonstrates professional respect and encourages open communication in the future, even if the ultimate answer is that you are not currently in the position to make a requested change.

Learn From Exit Interviews

Conducting exit interviews is one way employers gather feedback from their departing employees. Your exit interview should aim to find out why an employee is leaving, what aspects of their experience were optimal, and what could have been improved upon.

As with internal feedback, the objective of these interviews is not necessarily to learn what you should have done differently—it’s more so taking advantage of a moment in an employee’s tenure when they may be feeling both particularly reflective and comfortable speaking about their experience working at your company.

Keeping exit interview data on hand and watching for common themes can help you determine whether or not changes in your workplace policies or compensation structure are necessary to improve your retention rate.

Final Thoughts

Business owners and entrepreneurs are responsible to many parties. You need to keep your customers happy, forge strong relationships with partners, maintain workplace satisfaction, and monitor your bottom line, which is much to consider! There’s a reason that C-suite superheroes learn to prioritize self-care early on.

If you’re struggling with high turnover or retention and recruitment, a third-party consulting firm like Giant Voices can help. We will identify the root causes, and develop and implement—in tandem with your team—strategies that align with your business goals. To get started, just reach out.

From the CEO’s Desk: Pascha’s Summer Reading List for the Ambitious

Need to add some books to your summer reading list? Giant Voices founder and CEO, Pascha Apter, recommends 3 compelling, growth-focused reads that’ll transform your thoughts, empower your next steps and ignite your ambition. 

I’m not one to lounge around and watch TV. That’s just not my style. I’m at my best when I’m busy and productive. Whether I’m leading Giant Voices, coaching my team, guiding clients or keeping up with my young adult kids, I’m always moving.

When I “slow down,” I’m filling my brain with knowledge I can apply to all of the above. So, what have I been reading this summer? So glad you asked.

The Art of Profitability

By Adrian J. Slywotzky

There is no single way to achieve profitability, and a business model that works in one industry may not be as successful in another.

In The Art of Profitability, Adrian Slywotzky explores 23 different ways to structure profitable enterprises with a master-to-student narrative that instantly grabs (and keeps) your attention.

The book contains 23 short chapters, each with a compelling story to support a business model. It’s easy to consume in bursts, and you’ll close the book feeling empowered to drive profitability in your business in a way that makes sense for you. 

This book has helped me approach client work from many different angles. By learning more about what inspires and motivates my clients, I can better recommend a business model that will drive their success and profitability.

It’s also been key in helping grow the Giant Voices account executive team. We’re more focused on removing communication roadblocks and meeting our clients where they’re at than ever before, and it’s showing in all our up-trending KPIs. Give this book a read and discover strategies for transforming your business from flat to growing.

Traction

By Gino Wickman

Gino Wickman’s Traction is required reading at Giant Voices. Truly! We’ve operated under the Entrepreneurial Operating System for many years, and this year we’ve taken a Giant leap to bring more of our team in on the process.

All the Giants have read the book, and we’re rotating teams through the EOS® process. The insights gained have been invaluable, and our team feels more connected to the company and empowered in their roles than ever before.

Read Traction. Connect with an EOS® implementer. Then watch your company grow beyond what you ever dreamed possible.

This book is transformational. It will change the way you run your business, engage your team and drive growth. Wickman has developed simple, practical tools that allow leaders to focus on the big picture without losing sight of the day-to-day activities that must be completed to achieve the company’s growth goals. I’ve read this book several times, and I pick up new nuggets with each re-read. It’s that powerful.

Radical Candor: Be a Kickass Boss Without Losing Your Humanity

By Kim Malone Scott

With a title like this, I’m pretty sure Kim Malone Scott wrote Radical Candor for me specifically—or at least for entrepreneurs just like me.

Those who care deeply about developing their employees and want to balance being “obnoxiously aggressive… and ruinously empathetic,” as the description on GoodReads so aptly put it. There’s a balance; it takes serious introspection and internal reflection to bring it to light.

Being a good manager isn’t a skill that happens overnight. It takes practice to hone the skills and your personal style into a coaching and management method that uplifts employees to unleash their greatest strengths, capabilities and potential.

It is always my, and my business partners’ goal to bring out the Giant in every team member—and that looks different for everyone. Managers will read Radical Candor and see a bit of themselves in between the lines. They’ll also learn strategies for becoming Kickass Bosses that become driving forces for both company and employee growth.

What are you reading this summer?

If you’re reading anything enlightening that can help fellow entrepreneurs achieve their ambitions, share it in the comments below! Be Fearless! Be Ambitious! Be Giant!

– Pascha Apter, Giant Voices CEO

President’s Perspective: Work-Life Balance and Long-Term Success

Do you often find yourself struggling to prioritize between your personal and professional activities? Take a look at this blog written by our Giant President, Lisa Bodine, on how fostering a sustainable work life is key to reaching your highest potential.

I’ll be frank: my calendar is pretty full. I like it that way!

I love being deeply involved with my clients, our team and my business. Being a central part of the work we do at Giant Voices every day brings me satisfaction and joy. In fact, it’s precisely because of how much I love my work that I find I need to remind myself to take a step back from time to time.

Sometimes this means asking hard questions.

Am I still effectively coaching and mentoring our team when I am booked in back-to-back meetings? Am I exercising, eating, and sleeping? And what about my family; are they receiving enough of my time and attention?

When I’m deep in the grind, I’m not always thinking about the long-term impacts. But I should be. After all, having a rich, healthy, balanced life is what allows us to bring our best selves to the work we love so much—not only in the short term, but for years to come.

On Superhero Self-Care

We all know the image of the entrepreneurial superhero. Up at the crack of dawn for a ten-mile run, in the office by daybreak and still there at midnight. We love the grind! 

So is it really “overwork” if you feel happy with what you’re doing in the moment? Unfortunately, yes. 

Chronic overwork—working more than 55 hours per week—is common for entrepreneurs and business owners. It can also have serious health consequences.

What I’ve learned over time is that the most successful business owners habitually prioritize self-care, even while pouring their passion, energy, and love into their work. That’s what gives them that superhero glow—and what positions them for long-term success.

Thankfully, it really is possible to do it all. You can master your jam-packed schedule and still remain the awesome, passionate, driven leader you were born to be. It just takes a little help and a lot of determination. 

Work-Life Balance, Pandemic-Style

We are all aware the pandemic has drastically changed the way the world works. At Giant Voices, we went almost fully remote during the initial lockdowns, and we learned a lot:

  • We learned that we can be Giant from anywhere. When you love the work, it doesn’t matter where you are. Flexibility has been key to surviving the pandemic from a business perspective. 
  • We learned we can maintain relationships without seeing our coworkers and clients in person. 
  • We learned we’re extremely productive, but our new hybrid environment comes with drawbacks. We can take more meetings, but that leaves us with less time to decompress and shift gears between clients.
  • We also learned employees will follow leadership’s tendency to overwork unless we are clear with our expectations—and practice what we preach.

All this learning has led to small but powerful shifts in our company. By embracing a flexible work environment, we’ve been able to help our employees take care of themselves and their families, without sacrificing their work.

We’ve also empowered our employees to raise their hands when they feel overwork creeping in—especially when we don’t physically see each other as often. This increased transparency surrounding workloads, workplace burnout and mental health has been a positive shift for our team.

Rest and Recharge

Over the last few years, I’ve made progress in achieving a sustainable work-life balance. Here are some of the things that have worked for me.

1. Relying on our team

There are things only I can do, but there are also tasks in my client roster that our team is beyond capable of handling. Whenever possible, I delegate. This lightens my workload, and it brings me joy to see our team advance in their skills. It also effectively increases our organizational capacity by eliminating the bottlenecks that can occur with us all.

2. Taking time away—truly away

I prioritize exercise that forces me to focus on the task at hand. If I’m running a trail or mountain biking, I’m present in that moment—and that moment only. It’s meditative. I also take time with my family. Coaching soccer and family vacations allow me to truly unplug.

3. Prioritizing relationships

I wouldn’t be able to do what I do without the support of my partners, our team, my husband, kids, mom and extended family. The village around me also includes close friends, my work network, and my spunky pup, Poppy—Giant Voices’ newest office dog. Sustaining these relationships makes me a stronger business owner and leader.

It’s not bad to be tempted to work around the clock. In fact, it’s probably a sign that you love what you do!

As a leader, however, I can’t afford the consequences of overwork. Our team needs me to show up fresh and ready, every day. They also look to me to model an approach to work-life balance that aligns with our values. These are both responsibilities that I take seriously.

Over the last few months, more of our clients have come to us with questions about promoting healthy work-life balance in their companies, and we’ve evolved our services to help our clients grapple with company culture developmentvalues creation and recruitment/retention strategies in the post-pandemic world. 

Questions? Just drop us a line. We’re here to help.

Celebrating Giant Culture (And How to Build Your Own)

Earlier this month, we wrote about how your new employees hold the key to understanding your company culture.

In a nutshell, because your recent hires lack institutional context, they’ll notice things that your more senior employees take for granted.

They also have ready access to comparison (in the form of their previous positions), and they may be able to provide valuable insights into both your organization’s strengths and areas for improvement.

Giant Reflections

As a relatively new Giant, I find that I am uniquely positioned to observe our company culture now.

Here are a few of the things I’ve noticed about Giant culture, as well as some culture-building lessons that you can apply in your workplace.

The Observation: Culture comes up a LOT.

In my very first meeting at Giant Voices, our leadership team brought up the importance of building and maintaining a strong company culture. The subject has continued to come up regularly since.

The Lesson: Facilitate discussion around the things that matter.

Giant leadership understands that culture is important. Rather than taking a “set-and-forget” approach, they know that companies with strong cultures monitor and develop them on a consistent basis. 


The Observation: Employees are held to high expectations—and trusted to meet them.

One of my very favorite management insights comes from Creativity Inc., a book about leading creative teams written by the Creative Director of Pixar, Ed Catmull.

Catmull writes that he presumes that his employees are talented and want to contribute meaningfully in the workplace, and that the job of management is to identify and eliminate any obstacles to their success.

At Giant Voices, team members enjoy a high degree of autonomy. Some people work in-office, some from home, and some mix it up from day to day. The shared assumption making all of this possible is that our team members are ambitious, creative, and committed to doing their best.

The Lesson: Trust motivates and empowers.

What I love about this approach is how much trust it demonstrates.

I believe that over time, people will adjust their behaviors to match the style in which they are managed. We all remember those early pandemic horror stories, for example, about employees who were forced to work camera-on so that their supervisors could keep an eye on them. No thanks!

Regardless of intent, this type of management sends a clear message that employees are not trusted. People who don’t feel trusted feel disempowered, and disempowered employees disengage—making them the exact type of employee you shouldn’t trust. It’s a vicious cycle.

Thankfully, the opposite is also true: showing your employees that you trust them is a great way to make them feel engaged, empowered, and motivated—especially when it’s coupled with a company-wide commitment to doing excellent work.


The Observation: We celebrate together.

Next week, I’ll attend my third Giant Voices social event in two months. I’m excited! This team genuinely has fun together.

The Lesson: Keep fun inclusive.

Of course, not all company gatherings are an automatic success. I’ve noticed two things that ensure that ours are enjoyable. The first is that they are always optional. It’s hard to get buy-in for mandatory fun, and allowing employees to choose not to attend prevents a celebration from feeling like a chore.

The second is that company celebrations typically take place at least partly within normal working hours. When gatherings occur only after work, they run the risk of dividing your team instead of uniting it.

For example, if your company only holds evening events, you may accidentally create a divide between employees with childcare obligations and those without—or between those who can afford to pay a little extra for a sitter and those on a tighter budget.

Keeping at least a portion of company celebrations during the workweek makes sure that these gatherings are accessible to your entire team.


The Observation: We get amped about the work.

The Giant Voices team has one all-team each week that we use exclusively to shout out strong work and share exciting projects.

It’s a considerable investment of person-hours in connection and another example that leadership understands the importance of culture.

It’s also fun and inspiring to see the creative work that my colleagues are up to.

The Lesson: Invest time in connection.

Whether your team is in-office or remote, it’s important to devote some time and space to connection, alignment, and learning from each other. Even thirty minutes a week can provide a sense of predictability and rhythm for you and your employees.


The Observation: We have boomerang Giants.

This one isn’t as scary as it sounds.

As Giant Voices approaches its tenth anniversary, a number of people who worked at Giant Voices early in their careers are now returning in more senior roles, bringing with them broader industry experience and historical knowledge of the Giant Voices clients and team.

The Lesson: Strong cultures pay off.

Of all of the things I’ve noticed that speak to the strong culture at Giant Voices, this might be the most unique.

Think about this: of all the jobs you’ve held in your life, which would you want to return to?

It’s not necessarily the job with the coolest office or the sexiest title, but it’s almost certainly a position where you genuinely trusted and enjoyed your team and felt supported in doing your best work. In other words, it was probably a place with a strong, healthy culture.


What’s Next

We’ve been getting a lot of questions from our clients lately about how to build and maintain a strong workplace culture, and we’re not surprised. Remote work has required employers to rethink their approaches to culture, and recruiting and retention are also top of mind for many.

Expect to hear more from us in 2022 about team dynamics, leadership, and how investing in a strong company culture is a critical business practice.

Questions? Just reach out. We’re here to help.

Don’t Boil Your Frog: Three Ways to Evaluate Company Culture

Over the course of my career, I’ve had many conversations with peers in jobs that just didn’t feel right.

In most cases, my friends reported that although they loved their work (and their coworkers), things seemed off. Why didn’t folks chat in the break room? Why did every meeting seem tense? Why did people keep leaving.

As hindsight makes obvious, these workplaces had significant culture problems.

There’s a lot to learn from experiences like these. What strikes me most, however, is that my friends’ coworkers didn’t seem to notice their organization’s day-to-day problems, even as they witnessed their negative effects.

At Giant Voices, we believe one of a company’s most important target audiences is internal. If your employees aren’t your biggest fans (and strongest advocates), there’s likely something amiss.

Still not sold? Allow us to offer up why we deem it a critical and profitable strategy for your organization.

Taking Your Cultural Temperature

We all develop cultural blindspots. It’s normal—and can even be healthy: accepting the status quo allows us to focus on the tasks at hand instead of being endlessly overwhelmed by the bigger picture.

The problem occurs when this baseline requires a change. Practices that struck me as odd or problematic were, for my friends’ colleagues, “just the way things are.” It’s the boiled frog effect in real life.

So what is a leadership team to do? How do you evaluate culture when you’re inside of it every day?

It’s a sticky wicket, but we’re here to help.

How to Evaluate Company Culture

1. Ask your newest employees.

To assess your company culture, we recommended interviewing employees who have been with your organization for three or fewer years.

Consider questions like…

  • How does the climate and workplace culture here differ from that at your previous companies?
  • What do you like about our culture?
  • What feels odd or surprising?
  • What might help you do your job better?

To empower your interviewees, go ahead and lay your cards on the table: “I am asking you these questions because you are newer to our company. This gives you the ability to notice things that others might take for granted.”

You might be surprised at just how helpful (and observant) your new hires can be.

A bonus? By soliciting their input, you’re making them part of your positive culture task force. They’ll be on the lookout for ways to help your company become stronger.

2. Conduct an anonymous climate survey.

Climate surveys, often administered by third-party consultants, can assist in driving cultural change by identifying areas on which to focus attention. Gathering data also allows you to monitor progress over time and can be useful in your annual ESG reporting.

These surveys typically focus on work-life balance, leadership and management, employee experience, and inclusion. They can help increase employee satisfaction and engagement and, if needed, can form the basis of a cultural reset. We can help you get started.

3. Seek outside help.

Don’t underestimate the value of an outside eye. Much like your newer employees, independent consulting partners are in a better position to evaluate your company culture than your long-term employees are. They’re also well-versed in interpreting data and in developing workplace and industry-specific solutions.

At Giant Voices, we use data to locate organizational gaps (both operational and cultural), then make strategic recommendations that help our clients build stronger companies and reach their goals.

What’s Next?

At Giant Voices, we believe a strong organizational culture is one of the most important determiners of business success.

After all, the world’s most brilliant idea will fall apart if a team is disaffected and burned out—while an engaged, happy, thriving team can take a so-so business plan and burnish it into something powerful and lasting. 

And, like all things of value, culture doesn’t come cheap. There’s no one-size-fits-all culture-printing machine because culture can and should be specific to each organization.

We’ve been hearing more and more from our clients lately that culture is on their minds, too. We’ve got a lot more coming your way in the new year. 

And if you don’t want to wait—just give us a shout! We’ve been helping clients build strong company cultures since our founding, and we can help you preserve what’s unique and special about your team while identifying ways to make your company even stronger.