It is an interesting and a false understanding that people leave their jobs for money. In fact, people are motivated by their passions and not money. People will spend all kinds of money on their passions. If you don't believe me, look at people's hobbies and recreational spending. One thing is for sure, money follows passion, and passion does not follow money. If you can tap into your people's passions, you will find them making money for you and themselves.
Here are a few questions you can use to help you tap into people's passion:
- Are your employees in the right job position?
- Do they need extra training, feedback and/or coaching?
- Is there an opportunity for advancement or continued learning?
- Do they feel unappreciated, devalued, or are their opinions respected?
- Do they have poor work/life balance, and do they trust their leadership?
- Is stress a factor (stress can sometimes stunt creativity and passion) involved?
I encourage you to meet with your team and find out what they think needs to be done. Get them involved with the recovery plan. People buy into what they create, so let them help to create the solution.