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The Coming Retention Crisis
(May 31, 2002) - It's
been three waves of layoffs. The survivors, suffering from layers of guilt and
the desire to maintain their incomes, huddle under their desks somewhat
unwilling to take on any risk. The organization is tense and not yet sure that
another round of sacrificial isn't going to be required. Everyone is on their
best behavior. The questioning of authority that makes a good organization run
effectively is minimized.
You know what's going to happen the
moment that times get good. The pent up resentments, fears and anxieties will
propel a mass movement towards the door. Today's 96% retention will become
tomorrow's 25% attrition nearly overnight. It happens every time.
Seasoned organizations are beginning to deal
with the problem now, in advance of the crisis. It's going to be a land-rush and
the complicating factor is that replacement 'bodies' are already a little
difficult to find. Minimizing the impact of attrition on the bottom line will be
a key to successful performance over the next 15 months.
Here are some actions you can take to minimize
the impact of good economic times on the hiring workload.
- Review the changes in attrition rates at the
end of the last recession. On average, attrition doubled in the second
quarter of real economic growth. They doubled again the next quarter.
Publish a one page summary of the problem for co-workers and management.
- Increase the publicity surrounding existing
openings in the company.
- Institute an internal referral program that
rewards employees for suggesting a co-worker for an internal move.
- Stage a series of events designed to consolidate
the current workforce as a team. Family Days, open houses, barbeques and so
on have been on the back burner for a while now.
- Celebrate the interests and hobbies of the
existing workforce. Show the workforce examples of people who have
combined their passions and their work.
- Institute a "let us know first"
program that actively encourages existing employees to find their next job
at the company instead of leaving.
- Encourage employees to apply for jobs using
the corporate website.
- Remind first level supervisors that internal
transfers are good for the company.
- Offer assessment tools that allow employees
to clearly understand what's required to make an internal move into a new
area. Champion the education reimbursement program.
- Advertise the company to the existing
workforce. Describe the real, tangible benefits of life at the firm.
- Enroll every departing employee in an active,
value added alumni program. Make email and other web services easily
available to those who depart.
- Reexamine existing retention initiatives and strengthen
them now.
There is no question that national economic
success will increase your attrition rates. Acting now can minimize the impact.
-John
Sumser
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Copyright © 2013 interbiznet. All rights reserved.
Materials written by John Sumser © TwoColorHat. All Rights Reserved. Mill Valley, CA 94941 415.377.2255
colleen@interbiznet.com
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Materials written
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© TwoColorHat.
All Rights Reserved.
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