Retaining Top Talent

A great article in The American Optician, by Maggie Sayers and Dibby Bartlett.

As a manager, it’s easy not to realize the cost of employee turnover. That’s usually because the costs associated with losing and searching for an employee are spread between a number of budget or line items on the office’s balance sheet. According to The Center for American Progress, “employee turnover costs businesses about one-fifth of a worker’s salary to replace that worker. For businesses that experience high levels of turnover, this can add up to represent significant costs.” Read more about the cost of losing employees here:

https://www.americanprogress.org/wp-content/uploads/2012/11/CostofTurnover.pdf

The expense of recruiting, hiring and retraining, as well as the loss of business during the process, adds up to a cost most small optical businesses cannot afford. With many states experiencing a lack of optician candidates, this process may be longer than for other businesses, increasing the burden. Well-trained workers who move to nearby competitors can take business with them when they leave, adding to your loss. A high turnover rate may also make your customers skeptical about your business, jeopardizing a close customer/optician relationship.

Keeping your team together has a lot to do with your people skills. Your leadership style will be reflected in your employees’ performance. For example, The Betari Box is a model that illustrates the impact your attitudes and behaviors have on the attitudes and behaviors of the people around you. (See box below.)

Start with the mindset of a coach, believing in your employees’ potential and helping them succeed. Then:

1. Share your vision It is important for your team members to understand where you want to go. What is your vision for the future of the business? How do you want to accomplish the desired outcomes? What are the principles that guide your