Your Employees May Be Getting Ready to Bolt

The latest news reports have given us a glimmer of hope that the economy may finally be recovering. While that’s a welcome sign for most organizations, it may not be good news for all. A recent article in USA Today suggested that large numbers of employees are polishing their resumes and watching the job listings as employers begin hiring again. (“Many Workers Could Jump Ship,” by Laura Petrecca and Anita Bruzzese, USA Today, August 31, 2009).

It’s possible that many managers may find their best workers heading for the door just as business begins picking up. But that shouldn’t be surprising. Bad economic conditions typically lead to downsizing, layoffs, wage cuts and increased workloads. Those aren’t exactly the kind of conditions that promote employee job satisfaction and company loyalty.

Even worse, many managers begin to take their people for granted. They figure that employees are grateful just to be working and downplay the need to manage and motivate their staff. Yet, even though 80% of managers believe their employees are “happy just to have a job,” only 53% of employees actually feel that way, according to research cited by USA Today. But that’s not all. Workers are already beginning to look beyond the downturn. In another study nearly 20% of employees said they were planning on changing jobs within the next 12 months!

This could spell trouble as managers who weathered the tough economy suddenly find themselves facing the loss of their best workers. The time to prevent this sort of turnover is now, before it’s too late:

• Ramp Up Your Coaching and Feedback – Now is the time to increase employee feedback, not decrease it. Most workers feel uncertain in times like these and positive reinforcement helps reassure them that they are valued and that things will get better.
• Balance the Workload -- In many cases a recession means that remaining employees have to pick up the slack for terminated or laid-off colleagues. Struggling to get more work done with fewer resources is demoralizing. Talk to your employees and make sure the department workload is evenly distributed. Brainstorm better ways to get things done and streamline operations.
• Cross Train Your Team – It’s already possible that your employees have had to learn new jobs to replace employees who have left. But without re-training your team, increasing the workload just increases the strain. By taking steps to teach employees new skill sets you expand their capabilities, maintain their interest and motivate them to take their resumes out of circulation (hopefully). However, even if you do see some turnover as the economy loosens, you’ll be ready with team members in place that are trained and ready to step up.

One thing USA Today’s article made clear is that many managers already have a plan in place to retain workers following the recession with forty percent of hiring managers expecting to offer pay raises when the economy improves. Likewise, nearly half of the workers surveyed said that a salary increase would keep them from leaving after the recession is over.

But both of those figures suggest that between 50-60% of all employees are really looking for better working conditions and career opportunities when the economy starts growing again. That means they’ll more likely be looking around for new “pastures” in which more than just the money is green!

The Challenge of Managing a Multi-Generational Work Team

As if managing employees through an economic downturn wasn’t tough enough, what do you do when you also have to manage a workforce composed of two, three or four different generations? Fortunately, we can help you with invaluable tips and FREE job aids.

Our new book Keeping The Millennials: Why Companies Are Losing Billions To This Generation And What To Do About It is filled with concrete ideas about to how to make the most of all of your valued employees. Go to www.KeepingTheMillennials.com. When you order the book you will also receive several free offers from well-known knowledge experts. And, if you order your copy by September 20, 2009, then you’ll also receive a complimentary book from Joanne: The Keys to Motivating And Retaining Talent! Just follow the directions on the home page of www.KeepingTheMillennials.com!