Multiple research reports cited in a recent Wall Street Journal article see the job market improving and as a result some top talent already exiting organisations looking for a better opportunity.
Right Management found the same in a survey of North American workers who, when asked “Do you plan to pursue new job opportunities as the economy improves in 2010?” answered:
• 60% - Yes, I intend to leave
• 21% - Maybe, so I’m networking
• 6% - Not likely, but I’ve updated my resume
• 13% - No, I intend to stay
That’s 87% actively engaging in activity to leave your organisation. Take a look around your company today. Which employees do you think are the 13% most likely to stay? I guarantee it’s not your top performers. Various studies on employee engagement so it is the most disengaged that stay in their current role.
Look at it another way: that's 87% of employees distracted by thoughts, daydreams or plans to leave your organisation; 87% not fully focused on the task at hand, not fully engaged in helping you achieve your strategic objectives.
Now look at the employees through the lens of generation. What generation does most of your workers fall into? If yours is like most companies, the answer is Generation X (ages 32-44 years). Deloitte research found it is people of this generation most likely to leave with the research showing “37 per cent of Gen Xers said they planned to stay in their current jobs after the recession ends, compared with 44 per cent of Gen Yers, 50 per cent of baby boomers and 52 per cent of senior citizen workers.”
The Deloitte research further warns of a "resume' tsunami" once economic recovery begins, especially among Gen Xers, and notes that many executives were largely unaware of employee complaints unrelated to money.”
That bears repeating – “employee complaints unrelated to money.” Your employees are smart. They understand the need to cut back on expenses (of various kinds) in a recession. What they don’t understand and will run from is a company culture that does not communicate truth, recognise and encourage effort, and appreciate staff for the extra load so many have taken on in these last many frightening and confusing months.
What are you doing to prevent a “resume tsunami” in your organisation - or even help employees engage and not fantasise about leaving? Are you just battening down the hatches and hoping for the best or are you proactively stepping up, communicating clearly with employees, recognising them and their efforts, ) and engaging and aligning them with your strategic direction and objectives?
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