Retention

I am not an organizational psychologist, and I don’t pretend to know everything about what motivates the members of today’s professional-class workforce. That doesn’t prevent me from having opinions based on experience regarding what works when trying to create a committed team dedicated to the firm’s success. We did it pre-pandemic, and I am not yet convinced that fundamental human nature has been forever altered.

I believe a handful of simple factors drive retention and commitment in a professional services firm.

Vision & Purpose – People are motivated to do work that matters in service of a shared vision that they believe in. What is the firm's mission and where are we going? These things cannot be overcommunicated and need to be articulated in a compelling manner by leadership. We cannot compel commitment; we can only inspire individuals with opportunities for meaningful work.

Growth & Development – Good professionals are always seeking out growth opportunities and are striving for greater levels of autonomy and responsibility. Each member of the firm should see a path for them to accomplish their goals and be supported in their professional development. We should push people out of their comfort zones and provide stretch roles for all team members.

Friendship & Fun – We work very hard in the professions and one of the things that makes it rewarding is the opportunity to work with likeminded individuals that we love. Leaving a job at a well-run professional services firm should feel like breaking up with your best friends. We need to create opportunities for injecting a bit of fun and frivolity into the very serious work that we do.

Of course, we must have competitive compensation, benefits, and all the other basic stuff, but creating an environment where people who like each other are motivated to grow and develop together is the key to success. This doesn’t just happen. It has to be cultivated by leadership.

For the leader, creating this environment requires you to lead by example, celebrate values, delegate to create opportunity, be transparent about challenges, lighten the mood, paint a picture of a better future, and broadly recognize the contributions made by people at all levels. Humility and humor can be very effective tools. Remember that everyone loves an underdog, and everyone loves to be on a winning team. If you can position the firm as both, then you’re on the right track.