The Role Every Company Needs

According to Gallup, 87% of employees are disengaged with their work. Combine that with the fact that the average employee has less than 2 hours per month to devote to training yet state 16 hours per month is needed to stay current, it is not surprising that over 41 million people voluntarily left their jobs in 2018 according to the Work Institute. That’s 27 out of 100 employees and an 88% increase from 2010. In 2020, tack on a global pandemic requiring a new work from home setup, parents managing online school or homeschool, others fighting off loneliness and employee engagement is in crisis.

As a leader, does this resonate with you? These facts are important because not only is it expensive to lose and replace an employee, it is disruptive for colleagues and clients to experience the loss and transition. For 6 figure roles, it is estimated to cost a company up to 213% to lose an employee due to lost revenue, lost productivity, recruiting, training, and compensation to replace that individual.

Employee engagement, retention and satisfaction drive client engagement, retention and satisfaction. The best way to focus on your clients is to focus on your employees. This makes sense yet when I sought out to see what other companies were doing with respect to retention across both areas, it shocked me to realize that the job market is largely divided. You have Engagement Officers who focus on your clients and their experience with your products and services. Then you have People Officers who are an evolution of your HR team to recruit and retain the best performers in your industry. But what about someone who is in charge of the strategy to ensure the growth and development of your employees is in line with the ever-changing market needs of your clients?

I have spent some time defining the role of Chief Retention Officer. This role will wrap their arms around both aspects of business development by understanding consumer needs and interpersonal expectations of your clients and aligning that with the growth, engagement and development plan for employees. This role is expected to regularly interact with clients and employees and lead the company’s strategic initiative to collaborate across business lines to ensure company growth is aligned in both disciplines. Here’s the job description:

Top Priorities of a Chief Retention Officer:

  • Ensure the company functions as a highly coached, lightly managed, high-performing team
  • Safeguard client partnerships through strategic initiatives that link employee growth to client needs
  • Uphold company values by ensuring all decisions, interactions and communications link back to the values of the company

Employee Retention

  • Cultivate the relationship between leadership and employees by building an employee-centric work environment that focuses on putting the right people in the right jobs to allow the individual and company to realize their full potential
  •  Create and execute an employee retention strategy that focuses on transparency in how company values directly influence client engagement and employee development initiatives
  • Implement learning and development programs to build leadership skills and critical technical competencies to support company values and strategic initiatives as well as employee career and competency development.
  • Ensure managers are equipped with the soft skills required to have candid, collaborative conversations with employees that strengthen relationships, strive towards professional growth, and solve small problems before they become larger ones that drive great people out the door
  • Create a bidirectional feedback and recognition environment that encourages leadership at all levels through collaborative communication

Client Retention

  • Leverage the latest market trends to champion forward-thinking initiatives that align company growth and employee development opportunities
  • Establish a long-term client retention program that prioritizes existing clients and creates mechanisms for quantifying the cost saving of the effort
  • Uphold strategy to ensure employee skill sets and expertise continue to satisfy evolving customer needs based on market analysis and trends
  •  Liaise with all internal departments to identify and resolve escalated, recurring client satisfaction issues and determine company approach to long term resolution through employee development initiatives

While I mention that the job market is largely divided, our trusty friends at HBR wrote a fantastic article about this mash-up role in June 2019 titled “Why Every Company Needs a Chief Experience Officer.” Same concept, different title.

Published by Empower-Lead

Hello! My name is Karen. I am a mother, a wife, and a Vice President at a strategic consultancy in the non-profit technology space. I desire to seek change in both my personal and professional worlds through empowering positive leadership. I will share my experiences here and look forward to hearing how you empower positive leadership in your life! Personal: My husband, Kyle, and I live in Denver, CO with our two wonderful little girls and black Labrador, Riley. We spend as much time as possible outdoors either hiking, camping, off-roading or enjoying the city of Denver and mountain towns of Colorado. We moved here in 2016 after spending a decade at the beach on the east coast. If we are not in Colorado, we are jet-setting around the U.S. visiting friends and family. Pre-kids, that jet-setting included South America and Europe which we hope to begin again soon! Professional: I have spent the last decade in the non-profit space offering technical leadership guidance and analytical expertise to assist nonprofit organizations achieve maximum impact and efficiency from their technology solutions. What does this mean? I work with senior leadership teams to develop and execute strategic plans that align technology investments and IT services with the needs of national, international and regional offices. What does it really mean? I use both soft skills and analytical skills to assess needs and issues, define business processes, and lead teams in delivering value-driven technology solutions that strengthen the effectiveness of campaigns and operations. Ok, one final try: I work with a bunch of really smart people to help other smart people be better at their jobs by using technology more efficiently and effectively. I do all this for non-profits.

2 thoughts on “The Role Every Company Needs

  1. I was very happy to find this net-site.I wished to thanks to your time for this excellent read!! I positively having fun with each little bit of it and I have you bookmarked to check out new stuff you weblog post.

    Liked by 1 person

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