The Impact of Accountability on employee retention and Turnover

The Accountability Guy®

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Accountability has a significant impact on business success and growth. But when we say business success, we are talking about not only revenue generation. We are also talking about employee satisfaction. A happy and satisfied employee will not even think about leaving the organisation. So, today we will ponder what makes our employees happy. The answers are simple – security, safety, growth, acknowledgement, assurance, valued and trusted. Now, how does an employer achieve this feeling in every employee? Well, accountability is the answer to this problem. Employee retention and turnover are important issues that organisations face. High turnover rates can be costly, decreasing productivity, morale, and training costs. On the other hand, employee retention can lead to increased productivity, improved morale, and reduced training costs.

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Impacts of Accountability on employee retention and Turnover

1. Accountability leads to more dedication at work

When employees feel accountable for their work, they are more likely to feel invested in their job and the organisation’s success. This change, in turn, can lead to higher job satisfaction and lower turnover rates. In addition, when employees are held accountable for their actions, they are more likely to perform at a higher level, leading to increased productivity and improved performance.

2. Accountability means more clarity

One-way organisations can promote accountability is by providing clear employee expectations and goals. When employees know what is expected of them and what they are working towards, they are more likely to feel invested in their work and accountable for their actions. This change can lead to increased motivation, improved performance, and lower turnover rates.

3. Accountability leads to more effective ways of feedback and recognition

Employees receiving feedback on their performance are more likely to understand their strengths and weaknesses and be more accountable for their actions. In addition, when employees receive recognition for their accomplishments, they are more likely to feel valued and invested in their job, leading to higher job satisfaction and lower turnover rates.

4. Accountability leads to providing support and resources

Organisations need to provide support and resources for their employees to help them be successful. This step can include training and development programs, mentorship programs, and access to resources and tools. When employees feel supported in their job, they are more likely to feel invested in their work and accountable for their actions. This move can increase job satisfaction, improve performance, and lower turnover rates.

5. Accountability means improved decision-making

Accountability can also lead to improved organisational decision-making. When employees are held accountable for their actions, they are more likely to think critically about their decisions and consider the potential consequences of their actions. This improvement can lead to better decision-making and improved outcomes for the organisation.

6. Accountability means more employee engagement

When employees are held accountable for their actions, they are more engaged in their work. They feel a sense of ownership and responsibility for the outcomes of their activities. This sense of ownership can increase job satisfaction, improve employee retention and reduce turnover.

7. Accountability means a sense of fairness

Accountability can create a sense of justice in an organisation. For example, being held accountable for their actions creates a level playing field where everyone is judged based on their performance. This change can reduce employee resentment and mistrust and promote a positive work environment.

8. Accountability means improved communication channels

Accountability can enhance communication within an organisation. Employees are more likely to communicate openly and honestly with their colleagues and superiors when held accountable for their actions. This change can improve collaboration, reduce misunderstandings, and promote a positive work environment.

Conclusion

Accountability can be effective when demonstrated correctly by the management and leadership team if the leadership can portray and be exemplary role models of responsibility. Then their employees will learn and develop similarly and more openly accept accountable behaviour and actions. Accountability can have a significant impact on employee retention and turnover. Employees who feel responsible for their work are more likely to be invested in their job and the organisation’s success. This change, in turn, can lead to higher job satisfaction, improved performance, and lower turnover rates.

On the other hand, when employees feel they need to be more accountable for their work, they may become disengaged and less invested in their job, leading to higher turnover rates. Therefore, organisations need to promote accountability in a constructive and supportive manner while also providing support and resources for their employees to help them be successful. However, it is essential to note that accountability should not be used as a tool for punishment or blame. Employees who feel punished or blamed for their actions may become defensive and less willing to take ownership of their work. Instead, accountability should be used as a tool for learning and growth. When employees are held accountable for their actions in a constructive and supportive manner, they are more likely to learn from their mistakes and improve their performance.

About The Author

Darren Finkelstein, The Accountability Guy®, is the founder of TICK THOSE BOXES, a specialised accountability coaching practice. Darren is a formidable international accountability coach, business advisor, mentor, and author/speaker, fostering development and measurable results in entrepreneurship, leadership, and accountability. Darren’s tale is one of perseverance, self-reinvention, and resilience.

With compelling execution, Darren has empowered high-achieving individuals and teams from Australia and New Zealand to Latin America, Europe, Asia, the UK, and the US to embrace accountability; after all, it is your superpower.

Darren’s one-on-one and group coaching programs are based on his bestselling business book, “The Accountability Advantage – Play your best game” and the latest, release “NO’ – Building a life of choice without obligation”.

Darren has an impressive background in business, having held the role of “Manager of Commercial Markets” at Apple Australia during the Steve Jobs revolution.

He enthusiastically “walks the talk,” having also successfully sold and exited his lifestyle businesses, which served as the impetus for establishing his coaching and mentoring business.

Join Darren on this transformative quest to accomplish the remarkable.

Read Darren’s full bio here:
https://tickthoseboxes.com.au/about/