In times past, working for the same company for years was a sign of success; however, with the nature of work changing drastically, turnover seems to be the cost of doing business. According to the Work Institute, 42 million people quit their jobs in 2018. What’s more troubling is that 77 percent of those departures could have been prevented. This doesn’t speak to tightening job markets or the fluidity of Millennial’s attitudes on loyalty; it’s a direct indictment of companies’ leadership. It should be a CEO’s priority to identify young talent with potential across the company and learn how to nurture their skills over the course of their career. If they don’t, that talent will certainly find somewhere that will. According to PricewaterhouseCooper’s 20th CEO Survey, 77 percent of CEOs struggle to create and innovate. To correct this, it’s imperative that leadership learns to listen. By soliciting ideas from across the company instead of handing down directives, leaders will get better insight into the problem-solving powers of their workers, at the same time demonstrating their value at the organization.
Learning to Listen