“I love the way she don’t talk as she’s walking out the door” Marty Simpson
Newsflash! Watson Wyatt Worldwide survey: engagement is down 23% among Core Employees (a Company’s Talent). Conference Board survey: 55% of Employees are dissatisfied and 60% are thinking about leaving their companies as the economy improves.
Why this huge level of dissatisfaction and loss of company loyalty? Because the harsh measures – layoffs, reductions in wages/benefits, more work – Employers implemented to survive the recession caused Core Employees to realize they are disposable and the Employer’s implicit promise they would be protected is an empty one.
Your mission, if you choose to accept it, is to take the actions necessary to stop your Core Employees – your talent and the future success of your organization – from leaving and then to re-engage and re-energize them. How are you going to accomplish this mission? By implementing these action items ASAP:
1. Act now and stop Employees from even looking for a new job! Employees are not going to tell you they are thinking about leaving. And Once an Employee starts to look and discovers other opportunities, it is usually too late to convince them to stay. Dice.com, a job board for tech professionals, asked what would persuade Employees to stay if they found another opportunity – 57% said nothing.
2. Address compensation issues now! Give Employees bonuses based on increased performance (i.e. doing 2 or more jobs; increased productivity).
3. Eliminate non-productive Employees! Some of “The Others” (employees who should have been fired yesterday) escaped the reduction in force. Increase morale – and generate the money needed to give bonuses to those who deserve them – by letting “The Others” go now.
4. Increase Effective Communication! This is the time to increase transparent and honest communications at all levels – especially face-to-face in group and one-on-one meetings. Make every communication a dialogue by sharing relevant information about how the Company is doing and how important each person is for the Company’s success in the marketplace, and then ask for and listen to issues and ways to improve work processes and the workplace.
- More Employee Control = More Employee Commitment & Loyalty! Make Employees Partners by involving them in the decision making process in areas affecting them and there will be an increase in Employee commitment and loyalty. An added benefit: those who do the work have the best incentive (making their work easier!) and the best ideas for improving work processes and the workplace if they are encouraged to do so.
6. Create Career Development Plans! Every Core Employee needs a Development Plan with opportunities to grow and learn new skills.
- Thank Employees for doing a good job! Provide specific positive feedback about performance for the person, the department, and the organization.
- Celebrate the Company’s successes! Everyone in the workplace hears way too much bad news every day. Take every opportunity to share good news and the Company’s successes.
The Bottom Line: If you don’t want your Core Employees “walking out the door” and taking your Company’s future success with them, you need to rethink your employment deal and take the actions necessary to reengage your Core Employees.
Paul Glover Go to www.trainingeverydayleaders.com for more information about Employee Retention in the Time of the WorkQuake™.