Wanting everything to be just right can be a great trait. As a CEO or manager of a department it is up to you to make sure everyone and everything in your building is just the way you want it… but maybe it is time to loosen the reins.
From experience, I can completely understand. If you are the manager of a department you have to report and are held accountable for all the ups and downs that happen in your department. However tempting micromanaging can be — as a manager — micromanaging can really kill your department, especially with millennials.
Millennials will make up an estimated 50% of the workforce by 2020, according to a study by PwC. Some say millennials are a different breed of employee but, really they aren’t much different than the previous generations. According to MATT STRAZ, founder & CEO of Namely, millennials are looking for a good paycheck, a mentorship relationship, structure, and flexibility. They are looking for more than just the basics but, that is for another time and a different blog.
Today we are concerned with your retention plan. When a company loses a mid-level employee it costs the company. It is estimated the recruitment costs are more than 20% of an employee's annual salary to replace them (source).
Below you will find an infographic that we created. It shares some stunning statistics on the effects of micromanaging. Micromanaging affects your productivity, relationships, and retention. So, here are 3 reasons micromanaging is killing your retention plan and how to fix it!
When you are micromanaging your employees there is a loss of ownership. Webster defines micromanaging as, “to try to control or manage all the small parts of (something, such as an activity) in a way that is usually not wanted or that causes problems. To manage especially with excessive control or attention to details.” Paying attention to detail is great — but not throughout the entire process. Allow your employees to be in charge of smaller project. This will empower them to stretch themselves and do better.
Employees that feel micromanaged will become disengaged. This will in turn begin to affect your company culture. Thomas Jefferson once said, “Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” He is spot on.
Once your employees are disengaged it can feel impossible to reconnect them. Create a culture filled with positive energy. Encourage your company's mission. With the right culture, your employees will create and accomplish so much more. This also ties back to ownership, referenced above. If you are encouraging and creating a culture that reflects your company’s mission your employees work will reflect that.
Micromanaging is a relationship killer. When bosses begin to micromanage, team members start to get agitated and people will likely jump on the gossip train. Pay attention to the details that matter. If your team is working on a big project, don’t nit pick. Constantly remind your team to keep the company goals in mind — company culture and vision — and as a manager or CEO make sure that goals are accomplished.
If a project is not projecting your company’s goals and missions, step in. This is where being a strong leader plays an important role. Avoiding nitpicking will build a solid relationship between you and your team members.
One final thought, as you are working on your retention plan include a section on hiring. It is important to get the right people in the right positions. If you find yourself micromanaging, because projects are not being done to your liking, it may be time to re-evaluate your hiring process. It is important to hire people with a great skill set — Duh! The next time you are about to hire a new employee make sure that their attitude, values, and communication skills match their skill set. An employee without a good attitude may not mesh with your company culture. And, without good communication skills your team won’t be working as a team to achieve the dream goals of your company.
Our infographic summarizes key facts that will help you create the perfect retention plan. For those of you struggling with micromanaging — print it out. This infographic can be great reminder on why micromanaging your employees is killing your retention plan and costing your company productivity and money.
