Team Retention 2

Last updated Feb 8, 2023

• Edited with chatgpt
• Case study

This study aims to examine the factors that contributed to the retention of one team at a company that operates in the circular economy space, focusing on workplace assets. The study was conducted following a series of lay-offs that had a significant impact on team retention at this company. The study found that clear and transparent communication, along with a focus on employee well-being and engagement, played a key role in the retention of the team in question. Additionally, the team that was retained works in a unique domain of circular economy and workplace assets, which provided a sense of purpose and motivation for team members to stay with the company. The team leader applied techniques from the book “5 Dysfunctions of a Team” by Patrick Lencioni, which helped to build a cohesive team through trust, conflict, commitment, accountability, and results. A cost-benefit analysis was conducted, showing a high return on investment in terms of employee retention.

The company operates in the circular economy space, focusing on workplace assets and experienced a significant impact on team retention as a result of recent lay-offs, but one team was able to maintain stability while others lost members. The team leader of the retained team applied techniques from the book “5 Dysfunctions of a Team” by Patrick Lencioni, which helped to build a cohesive team through trust, conflict, commitment, accountability, and results. A specific technique used was the “personal histories exercise” which helped to increase trust among team members. The team leader also fostered discussions through leading by example, thereby increasing the potential to handle conflict among the team in a healthy way. The retention rate of the team in question was 100%, while the other two teams lost 1 out of 5 and 2 out of 7 members respectively.

The study was conducted by interviewing the team leader of the retained team and analyzing the company’s internal communication and employee retention strategies. A cost-benefit analysis was also conducted to measure the return on investment of the techniques implemented in terms of employee retention.

The study found that clear and transparent communication, along with a focus on employee well-being and engagement, played a key role in the retention of the team in question. Additionally, the team that was retained works in a unique domain of circular economy and workplace assets, which provided a sense of purpose and motivation for team members to stay with the company. The team leader applied techniques from the book “5 Dysfunctions of a Team” which helped to build a cohesive team through trust, conflict, commitment, accountability, and results. A specific technique used was the “personal histories exercise” which helped to increase trust among team members. The team leader also fostered discussions through leading by example, thereby increasing the potential to handle conflict among the team in a healthy way. The retention rate of the team in question was 100%, while the other two teams lost 1 out of 5 and 2 out of 7 members respectively. The cost-benefit analysis showed a high return on investment in terms of employee retention.

This study demonstrates that by creating a supportive and cohesive team environment, fostering trust, commitment, accountability, and results, and providing a sense of purpose and motivation, a company can retain its team members even in challenging times. The use of techniques from “5 Dysfunctions of a Team” as well as the specific focus on a unique and purposeful domain can be a powerful tool for employee retention. The cost-benefit analysis showed that the return on investment of these techniques in terms of employee retention is high.

In summary, the case study demonstrates that by creating a supportive and cohesive team environment, fostering trust, commitment, accountability, and results, and providing a sense of purpose and motivation, a company can retain its team members even in challenging times. The use of techniques from “5 dysfunctions of a team” as well as the specific focus on a unique and purposeful domain can be a powerful tool for employee retention. The cost-benefit analysis showed that the return on investment of these techniques in terms of employee retention is high.

It is worth noting that while the cost-benefit analysis provides valuable information on the financial return of implementing these techniques, it is important to also consider the non-financial benefits of employee retention. These can include improved morale, increased productivity, and reduced recruitment and training costs.

Additionally, it is important for the company to continue monitoring and evaluating the retention rate of the team and to make adjustments as needed. It is also suggested that the company should conduct similar retention studies on other teams in order to identify any common patterns and areas for improvement.

This case study highlights the importance of effective communication, employee well-being, and engagement in retaining team members, and also how working in a unique and purposeful domain can be a motivation for employees to stay in the company. Despite the challenges of layoffs, the company was able to retain one team completely by focusing on these key areas and by providing a sense of purpose to the team, and also by applying techniques from “5 dysfunctions of a team”. The cost-benefit analysis shows a high return on investment in terms of employee retention. The company should continue monitoring and evaluating the retention rate of the teams and implement similar studies on other teams in order to identify patterns and areas for improvement.

“5 Dysfunctions of a Team” by Patrick Lencioni is a book that emphasizes the importance of building a cohesive team through trust, conflict, commitment, accountability, and results. It provides a framework for understanding the underlying issues that can prevent teams from performing at their best and offers practical strategies for overcoming these challenges. The book is based on the idea that trust, the foundation of any healthy team, is built on the five dysfunctions: absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results. By addressing and overcoming these dysfunctions, teams can improve their performance and achieve their goals.

Given, the cost of implementing the techniques from “5 Dysfunctions of a Team” is $10,000. The benefit of retaining the team of 10 employees would be $500,000 (estimated average salary of each employee per year times 10). The benefit of retaining the other two teams would be: $175,000 and $112,500 respectively.

So, the cost-benefit ratio for the team of 10 would be (500,000-10,000)/10,000 = 49 The cost-benefit ratio for the other two teams would be (175,000-10,000)/10,000 = 16 and (112,500-10,000)/10,000 = 10.5 respectively.

This cost-benefit analysis shows that the techniques from “5 dysfunctions of a team” have a high return on investment in terms of employee retention. The cost of implementing these techniques is outweighed by the benefits of retaining employees, resulting in a high cost-benefit ratio.