Minute With Mallon: Why They Really Stay!
Welcome to Minute with Mallon!
Something I Taught:
Yesterday I was working with a client who is a partner at a large firm. He essentially functions as the firm’s CEO. He's super bright and very focused on growing his people and the business.
We took some time discussing the top motivators for employees. I've done extensive research on this subject and have looked at all types of studies, and the results of those studies are pretty surprising. But they are solid, and can be used by any organization to grow and hold on to their employees.
I bet you're wondering what they are! Well here are the top six:
Purpose & Meaning at Work
Recognition & Appreciation
Opportunities for Growth & Development
Autonomy and Trust
Strong Relationships with Supervisors & Colleagues
Fair Compensation & Benefits
For this newsletter let's just discuss number one:
The number one motivator of employees is having purpose and meaning in their jobs.
Employees are most motivated when they believe that their work matters.
People want to feel like what they do makes a difference—to the company, the customer, and/or the bigger picture. When work feels meaningful, people show up more engaged and committed.
This isn't just theory—study after study, including one by the Harvard Business Review, confirms that employees will even trade pay for work that feels more purposeful.
Another survey from Mackenzie found that employees who find work meaningful are four times more engaged in their work.
With all this in mind, my client and I took some time analyzing the list of 6 top motivators and identifying ways for him and his team to implement these within the organization!
Which of the six do you think is most powerful? Or which one do you think your team needs more of right now? Hit reply and let me know—I’ll send you a practical idea or two to help you strengthen that area.
Something to Ponder:
You can't fix what you won't face.
Something I Learned:
When a good employee walks out the door, it’s not just inconvenient—it’s expensive. 💰
Source Highlights:
● Gallup estimates the cost of replacing an employee ranges from 50% to 200% of their annual salary, depending on role and seniority.
● SHRM (Society for Human Resource Management) puts the average replacement cost at 6–9 months of salary.
Why so high? Here are the 6 biggest reasons I have been able to come up with through my research:
Lost Productivity
○ It often takes new hires 6–9 months (or longer) to reach the productivity level of the person they replaced.
Recruiting Costs
○ Job postings, recruiter fees, background checks, HR time.
Training & Onboarding
○ Time and resources spent on getting someone up to speed—often involving managers, trainers, and coworkers.
Knowledge & Relationship Loss
○ Departing employees take with them institutional knowledge, customer relationships, and internal influence.
Cultural Disruption
○ Turnover can shake team morale, especially when a respected or long-standing employee leaves.
Lost Revenue Opportunities
○ During transitions, companies often miss deadlines, lose momentum, or deliver less-than-excellent service
The bottom line? Retention matters more than most leaders realize. Taking care of your people, building a strong culture, and addressing issues before they lead to turnover isn’t just good leadership—it’s good business!
Something I Saw:
Just below Devil’s Courthouse off the Blue Ridge Parkway!
Who do you know who either owns a business or who manages/leads a lot of people? Just share this link: RobertMallon.com/Newsletter
Hope you have an incredible week!
Robert
