50% of Your Employees Are Planning to Quit! (Warning: Do Not Read This Unless You Plan to Do Something About It!)
By Kristine Sexter
Feb 6, 2010 - 7:17:50 AM
CAUTION...the following information may be harmful to your positive, professional outlook. That assumes you are not amongst the 50% of workers that are generating these survey results:
* Right Management surveyed 900 workers and found that 60 percent intend to leave their jobs in 2010.
* In the 2009 edition of an annual job satisfaction survey conducted for The Conference Board, only 45 percent of Americans said they were satisfied with their jobs (a marked drop from the 61 percent who said they were satisfied in 1987, the first year the survey was conducted).
* Fewer Americans are satisfied with all aspects of their employment, and no age or income group is immune. In fact, the youngest cohort of employees (those currently under age 25) expressed the highest level of dissatisfaction ever recorded by the Conference Board survey for that age group.
* The 2009 Employment Dynamics and Growth Expectations Report said 55 percent of employees plan to change jobs, careers or industries when the economy recovers.
* CareerBuilder.com surveyed 4,285 full-time, private sector employees. 40 percent said they had difficulty staying motivated in their current jobs, and 24 percent said they did not feel loyal to their current employers.
* The Monster and Human Capital Institute survey revealed 84 percent of employers indicated they thought their workers were content because they still had jobs. However, only 58 percent of workers agreed. The same survey found that 57 percent of workers believe employers are exploiting the recession to drive longer hours and lower pay from their workforces
* Finnegan Mackenzie and business network ExecuNet polled 1,627 employed executives and found that more than 90 percent would take an executive recruiter’s call. In addition, more than 50 percent of the respondents said they are already pursuing new job opportunities.
So realistically, what is a modern, effective, and savvy manager (like you!) to do?
First- Recognize that this economy, once rife with staff-cutting and budget-cutting is starting to improve. It was certainly difficult to make those difficult decisions, but now it is time to move quickly: restore pay cuts; increase communications; be very generous with genuine, non-monetary recognition; reward acts of teamwork, positive attitude, and professionalism. If you do not, then you are at risk of losing your top talent as your business improves (think about it- how are you going to explain to your employees that you can not restore the pay cuts but you can hire new employees?)
Next- Be the role model of consistency, professionalism and responsiveness. Employee retention will always, and forever, be deeply rooted in how well leadership exemplifies these characteristics. Top down will always apply. Old school management styles, such as leading by intimidation, threats, fear, lack of communication, lack of non-monetary recognition, turfism, favoritism and negative attitudes are exactly the reasons most employees quit, but especially Gen Yers. Watch- they will be the first to quit! GenY ers greatest strength? They expect leaders to be just that- genuine leaders. If they get a whiff of hypocrisy within the management ranks- they are gone!
Last- Put your employees first. Before customers. Even tell your customers they are #2. We like knowing you take care of those that take care of us! It makes sense- a. Consumers want great service. B. Great service emanates from satisfied, engaged employees. C. Reliable, positive-minded, productive employees, tell their contacts and friends ( who tend to have the same great work ethic as they do) to come to work for you. D. The result? Profitability.
Motivating Without Money: The Top 10 (No Cost) Steps for Dramatically Improving Performance and Morale. This 2.0 hour energetic, content rich and engaging program explains exactly how to effectively utilize non-monetary recognition to improve productivity and morale! Bring Sexter to your next educational event.
Kristine A. Sexter is an industrial and organizational psychologist who has devoted over 19 years to studying success and professional commitment. With an extensive background in recruiting, developing, and retaining top talent, Kristine expertly serves the healthcare hospitality and manufacturing industries with acclaimed results. Ms. Sexter is a professional keynote speaker, consultant, and columnist and is the author of six books, including Rolling Out the Recognition: Employee Retention Strategies for Manufacturers. www.KristineSexter.com
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