How to Retain Your Managers

Your management team plays an essential role in the success of your company. They’ve had a bit rough go of it over the past few years – the pandemic, remote work, hybrid teams, and now the return to the office. They’ve had a lot to deal with. As a Toronto executive search team we talk to managers every day, so we know firsthand that managers are more of a flight risk now compared to years past. If you are not careful and take steps to retain them, you could lose them.

With an increasing number of young people not wanting to work in management positions, you could potentially find yourself with a management gap. Below, we’ll discuss why managers are a risk of leaving and steps you can take to keep them in-house. We’ll talk about:

Is a manager collapse on the horizon?
Burnout is a top reason your managers are a flight risk
What other reasons are managers leaving their jobs?
What can employers do to retain their management team?

Is a manager collapse on the horizon?

There is a growing belief that managers are the next large group of employees to leave companies and many companies don’t have a safety net because Gen Z and younger workers don’t want to take on management positions. A recent survey revealed that over half of Gen-Z professionals don’t want to take on a middle management role in their career, with 69% saying middle management is too high-stress and low reward.

There’s no question they have higher expectations placed on them compared to normal employees. But there is more to it than this. According to data collected from Fast Company:

Managers experience 59% higher emotional demands than their team members.
12% less likely to receive support when they need it.
Almost half of middle managers would likely quit within the year due to stress.

This situation is leading to burnout for many managers.

Burnout is a top reason your managers are a flight risk

Burnout is a top reason why all employees, and managers, in particular, need to take time off or move on to another role. According to Apollo Technical,

Almost 60% of leaders reported feeling worn out at the end of each day.
Nearly a third (29%) of managers wish businesses would display more empathy.
44% of leaders who feel worn out plan to move to a new company to advance their careers. 26% of those same respondents plan to leave their current company within one year.

What are other reasons managers leave their jobs? Here’s 10:

We’re in a situation where many managers feel overworked and are approaching burnout. But, there are also many other reasons why managers would consider leaving their current role. We asked our recruiters to list other top reasons management job candidates cite for making a career change:

Lack of Career Growth: There are limited opportunities for advancement or professional development. Managers are typically career-motivated, and if there are opportunities for advancement, they’ll seek them elsewhere.
Poor Leadership Above Them: Many managers leave because they have disagreements with upper management or feel undervalued.
Work-Life Imbalance: Some manager roles have excessive workloads, long hours, or high stress that starts to affect their personal life. They want more balance.
Better Opportunities Elsewhere: Other companies offer a higher salary, better benefits, or more fulfilling roles.
Lack of Autonomy: Micromanagement or restrictions that prevent them from making meaningful decisions.
Misalignment with Company Values: There was a shift in company vision, ethics, or priorities that no longer align with their own.
Lack of Recognition: Feeling unappreciated despite their contributions and efforts.
Unclear Expectations: Frequent changes in direction, lack of strategy, or vague performance goals.
Company Instability: Financial troubles, layoffs, or frequent leadership changes can make managers feel uneasy. When this happens they’ll seek stability.
Desire for Entrepreneurship: Sometimes, managers have a desire to start their own business or pursue independent projects.

What can employers do to retain their management team?

Your managers play a vital role in the success of your company. Losing a few top managers in a short timeframe could have significant repercussions. So, if you’ve heard rumblings about unrest among your management team, you need to take action now.

Generally, there are two management cohorts you need to address. These are your existing management team and future leaders within your organization. You want to keep your current managers happy while you are training the next crop of leaders.

Address the issues managers have expressed to leadership

If you want to keep your managers happy, you need to understand what ails them. Speak with them to identify issues and put an effort into fixing them. Every company will experience different challenges. It’s up to leadership to be proactive and offer the types of support your managers require. The key is to have personalized retention strategies. Understand individual motivations and provide tailored incentives to keep top managers engaged.

Here’s a list of things our recruiters recommend you do to retain your management team:

Offer Career Growth Opportunities: Provide clear career paths, promotions, and professional development programs.
Create a Positive Work Culture: Foster a supportive, inclusive, and respectful workplace.
Recognize and Reward Contributions: Acknowledge achievements with bonuses, promotions, and public appreciation.
Offer Competitive Compensation: Regularly review and adjust salaries, bonuses, and benefits to match industry standards.
Promote Work-Life Balance: Encourage flexible work schedules, remote work options, and reasonable workloads.
Give Managers Autonomy: Trust managers to make decisions and give them authority over their teams.
Provide Strong Leadership Support: Ensure upper management offers guidance, mentorship, and resources.
Offer Leadership Training and Development: Provide mentorship programs and courses to enhance leadership skills.

Identify and support the managers of the future

Even though many Gen Zers don’t have management aspirations right now, it doesn’t mean they won’t in the future. If you see management potential in an employee, identify them and offer support and training to help them become a manager in the future. Having a pipeline of talented employees internally can help your company maintain a strong management team.

Always be recruiting management talent

Even if you do everything to the best of your abilities to keep your management team intact, people will leave. It’s part of running an organization. So, it’s essential to always be on the lookout for great management talent. Reach out to our executive search team to take your recruiting efforts to the next level.

A final word on how to retain your managers

Retaining your management team is crucial for the long-term success of your company. With increasing burnout, changing workplace dynamics, and fewer young professionals aspiring to leadership roles, businesses must take proactive steps to keep their managers engaged and supported. Even with the best retention strategies in place, some attrition is inevitable. That’s why it’s essential to continuously identify and develop future leaders while keeping an eye on top management talent in the market.

Your Managers are a Flight Risk This Year, Here’s How to Retain Them.