Since the UK finally admitted that it was in the grips of a recession in January this year, your top talent has been battening down the hatches and biding its time... waiting for the moment the market finally starts to show signs of improvement before upping sticks and moving on.
In a recent survey conducted by the CIPD, 34 per cent of respondents admitted that whilst job security concerns are forcing people to stay put at present, they plan to make a move to pastures new in as little as a year’s time.
The recession has been hard on everyone, and whilst a proportion of the workforce have lost their jobs entirely through a rash of redundancy, those left standing are expected to do more work for less money to compensate for their erstwhile colleagues and help the business survive the storm. This has led to a league of incredibly talented, yet incredibly disgruntled, employees who are keen to take their new skills and place them elsewhere at the very first opportunity.
So, how do you stop your top talent from jumping ship and taking all those valuable skills away with them? Whilst there is no fail-safe way of keeping hold of your employees, a careful mix of recognition and above all communication will ensure that whilst people are feeling the pressure of their workloads, they at least know why they are being asked to go above and beyond, that they are valued and their hard work is being acknowledged.
By communicating change and treating your employees with respect at each step of the way you are in a position to build trust, and when the job market does achieve its inevitable turnaround, the staff base you will be left with will be the loyal and actively engaged individuals who really matter and make a true difference to your organisation.
Remember, it’s never too late to communicate – the sooner you start taking better care of your talent, the better.
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