\u2022 Foster a sense of ownership within employees.<\/strong> The old encouragement to “act like you own it” is good advice. The challenge is making the adage practical. It is difficult to build a sense of ownership when the plans, activities, and details are dictated to you. Managers need to find ways to actively engage employees in contributing ideas to plans, activities and outcomes. The more employees share in the rewards of success and are supported in turning failures into learning and growth opportunities, the more they can build a sense of ownership for their projects and become fully engaged in providing successful outcomes consistently.<\/p><\/blockquote>\nDon’t underestimate the importance of this approach.\u00a0 Few employees, though there are some, want to work under dictatorial management.\u00a0 The key point I see in this ownership approach is that it provides a path to growth for the employee.\u00a0 Gen Y craves this career track as have the generations that preceded them.\u00a0 The difference is that many Gen Y employees will simply leave the company to gain more skills at a different employer.<\/p>\n
This fact leads back to the premise that people tend to remain in place when they own while they have a tendency to move around more when they rent.\u00a0 Keep that in mind as you develop your team in hopes of greater retention.<\/p>\n","protected":false},"excerpt":{"rendered":"
The principle of owning vs. renting is powerful especially when it comes to an employee’s job.\u00a0 Ownership of a job is a fickle thing.\u00a0 Yet, I have worked for managers who assigned responsibility and provided enough autonomy to allow me to excel in my role.\u00a0 The younger generations seem to relish this approach even more than my Gen X group. ManageSmarter.com offers up an article with a clear title – Padlocking the Revolving Door on Turnover.\u00a0 There are 4 good points to support the article’s title, but one stands out clearly: \u2022 Foster a sense of ownership within employees. The old encouragement to “act like you own it” is good… Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[29,23,4,11],"tags":[398,1766,271,399,1765],"class_list":["post-1454","post","type-post","status-publish","format-standard","hentry","category-generations","category-retention","category-sales-management","category-team-management","tag-employee-retention","tag-retention","tag-sales-retention","tag-stopping-turnover","tag-turnover"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-ns","jetpack-related-posts":[{"id":626,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/02\/the-etiquette-of-retention\/","url_meta":{"origin":1454,"position":0},"title":"The Etiquette Of Retention","author":"Derrick Moe","date":"February 2, 2007","format":false,"excerpt":"Does 'Thank You' Help Keep Associates? from CareerJournal.com takes a look at turnover\/retention issues at a major law firm. Scary, I know. However, there is a good lesson in here in regards to retaining top employees. First the setup from the article: Faced with a surge in turnover of its\u2026","rel":"","context":"In "Communication"","block_context":{"text":"Communication","link":"http:\/\/selectmetrix.com\/blogs\/category\/communication\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2445,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/10\/chipotle-rewards-and-retention\/","url_meta":{"origin":1454,"position":1},"title":"Chipotle Rewards And Retention","author":"Derrick Moe","date":"October 13, 2010","format":false,"excerpt":"Retention does not seem to be a topic of great concern in this present economy.\u00a0 However, the economy will turn and hiring will accelerate.\u00a0 When this happens (hopefully sooner rather than later), retention will become a key topic for many companies. In a surprising story, CNNMoney.com provides a brief description\u2026","rel":"","context":"In "Retention"","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":588,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/01\/when-turnover-is-good\/","url_meta":{"origin":1454,"position":2},"title":"When Turnover Is Good","author":"Derrick Moe","date":"January 19, 2007","format":false,"excerpt":"We met this morning with a sales manager from one of our clients and had an interesting discussion about turnover. This company is in an \"old-line\" industry and has an established salesforce. In fact, the newest salesperson has been with the company for more than 5 years. Most have a\u2026","rel":"","context":"In "Retention"","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1299,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/11\/the-most-important-aspect-of-retention\/","url_meta":{"origin":1454,"position":3},"title":"The Most Important Aspect Of Retention","author":"Derrick Moe","date":"November 20, 2007","format":false,"excerpt":"Competent managers.\u00a0 That's according to a Kenexa Research Institute survey quoted in CareerJournal.com\u00a0(emphasis mine). Sixty-two percent of employees who said they have an effective manager also said they planned to stay with their job versus 17% of employees who said their manager is ineffective who plan to stay with their\u2026","rel":"","context":"In "Retention"","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":383,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/10\/how-to-retain-employees\/","url_meta":{"origin":1454,"position":4},"title":"How To Retain Employees","author":"Derrick Moe","date":"October 20, 2006","format":false,"excerpt":"Earlier this week we posted on employee turnover via a survey that found 75% of jobseekers believe they will find greater career success elsewhere. As jobs become more plentiful and workers more scarce, employee retention is going to be a top 3 topic for most companies. Steve Rothberg posts on\u2026","rel":"","context":"In "Sales Management"","block_context":{"text":"Sales Management","link":"http:\/\/selectmetrix.com\/blogs\/category\/sales-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":802,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/04\/sales-manager-compensation-for-retention\/","url_meta":{"origin":1454,"position":5},"title":"Sales Manager Compensation for Retention?","author":"Mike Cardinal","date":"April 4, 2007","format":false,"excerpt":"A recent conversation brought to mind the responsibility of sales management for the development of both existing and new sales people. Why? Retention. As the employment market has shifted to an \"employee market\" - at least for talented sales professionals - sales management needs to make plans to retain sales\u2026","rel":"","context":"In "Compensation"","block_context":{"text":"Compensation","link":"http:\/\/selectmetrix.com\/blogs\/category\/compensation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/1454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=1454"}],"version-history":[{"count":0,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/1454\/revisions"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=1454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=1454"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=1454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}