Retention: What if 75% of Your Workers Found Other Jobs?
Wednesday, April 11, 2007 6:40 AM
by
Jay Schleifer, BLR
The bad news is that surveys are showing that three of every four of
your workers are probably job hunting. The good news is that there are
retention strategies to keep them.
If youfre not doing anything special right now, stick your head out the
door and look down the corridor. Now imagine three out of every four
offices or work stations vacant by year end c their occupants having
looked for, and quickly found, other jobs. If such a thing happened, how
would your organization operate? How would it survive?
It could happen, according to several surveys of jobseeking behavior.
Polling by the Society for Human Resource Management (SHRM), Yahoo
HotJobs, and Kronos, Inc., all show some 75 percent of the workforce
seeking to change jobs by the end of this year.
There are variations in who the jobseekers are. Younger, nonmanagement
types seem the most active, as they usually are. But still, the number is
remarkably high. Normally, 30 to 40 percent of workers are on the hunt for
employment alternatives.
The reason is understandable. Therefs been particularly good weather
for jobseeking. With some exceptions, the economy has been growing, with
unemployment at near-record lows.
Positions are opening as well, as 76 million Baby Boomers begin to
retire. With only 44 million in the succeeding generation to replace them,
thatfs a recipe for employment opportunity.
From the employer side, itfs a recipe for efforts to expand retention
efforts to keep or win back skilled employees who otherwise would be gone.
Here are some suggestions to keep a tornado of vacancies from sweeping
through your workplace:
--Understand why people leave. Itfs not just about
money. HR columnist Susan Heathfield, of About.com, advises
thinking about the quality of supervision. gPeople leave managers and
supervisors more than companies or jobs,h she notes. Heathfield says be
sure that bosses are clear in transmitting expectations and earnings
potential, and active in creating a workplace where people can express
ideas freely, use their talents fully, and be recognized and rewarded for
both.
--Manage generationally. Baby Boomers were a managerfs
dream, say several experts. They were workaholics, achievement seekers,
and anxious to climb the career ladder. The next generations will not even
admit there is a career ladder, writes Ruth Haag, author of a
series of books on hiring and firing. gMany have missed the step where
they understood they had to work their way up from the bottom," she says.
Instead, they question authority, expect constant feedback, believe in
team over individual performance, and see work as only one component of an
active life.
--Be flexible. More and more employers are not only
thinking outside the box, theyfre demolishing the box in terms of
workplace policy. Flexible hours, telecommuting, partial-year work with
full-year benefits, and even partial pensions before retiring are keeping
workers who might retire on the job.
gThis is really the first step in establishing a phased retirement
program for the nation,h says Kyl Brown, a retirement expert at the HR
consulting firm, Watson Wyatt Worldwide. gI donft think, by any stretch,
that itfs the final step.h