Addressing Workforce Attrition Through Value-based Leadership
11/13/2019Values play a guiding role in everybody’s lives. Being able to recognize and articulate one’s own set of values helps with sound decision making, accountability, and authenticity. When a leader’s personal values align with their organization’s, a harmonious connection is established. That connection, in turn, creates a number of possibilities for productivity and individual growth, manifested in several ways.
A values-based leader not only appreciates individual differences but also knows how to rally people around a common goal. They’re more personality-driven than metrics-driven. Such leaders revitalize corporate culture and bring passion to work. Whatever they do, they do it with clarity and confidence. They build loyalty and trust with customers.
San Francisco-based financial services company Wells Fargo has consistently ranked among the top-10 corporate citizens by the Business Ethics magazine. Its former CEO Richard M. Kovacevich, speaking about the company’s commendable performance in the financial services sector, once said that trust, integrity, and honesty were always a part of Wells Fargo’s value system that led to better corporate responsibility and governance. The organization’s leaders have always championed human rights, community investment, and diversity while serving all stakeholders with the highest standards of integrity and commitment.
Workforce attrition is a major challenge for most companies if not all. A values-based leader helps reduce attrition by:
1. Providing a sense of purpose and direction for each project – When employees truly believe in the work they’re doing, they become more organically engaged and stick to their jobs for longer.
2. Providing fresh challenges — With exponential growth and adoption of technology, even the best of ideas become stale in time. Value-based leadership is all about walking different paths to reach the same destination. Giving employees new challenges on a regular basis helps break everyday monotony and makes people look forward to another day.
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