Will they stay ... or will they go?

Lose 10 pounds … cut back on caffeine … learn a new language … get a new job. With the lifting of the recession and the ringing in of the new year, many employees are taking a long, hard look at their careers and planning their exit strategy. And a big reason for their departure may surprise you: lack of trust.

According to Deloitte LLP’s fourth annual Ethics & Workplace Survey, one-third of the nation’s employees will renew their job search as the economy revives. Approximately 48 percent of the respondents cite a loss of trust in their employers as a motivator for seeking a new job. At the same time, 46 percent blame a lack of transparent communication from their company’s leadership as a reason for looking elsewhere.

What’s going on here? And more important, what can management do to regain employee trust and pull back the curtain on the major decisions affecting the workplace?

While you can’t eliminate the economic uncertainties that linger even in the new year, you can invest in the mental well-being of your employees. Here are some steps in the right direction:

1. Create a clear sense of purpose. When budgets get cut and staffs downsized, employees often wonder when a pink slip is coming their way. Managers can allay fears by meeting with employees after a layoff or restructuring to revisit corporate and departmental goals. Remaining employees must understand they are critical to the ongoing success and profitability of your company. Meet regularly to share revised goals and expectations. Clearly define roles and responsibilities. And most of all, let employees know that “we’re all in this together.” Getting through challenging times is easier when everyone is working toward a common objective.

2. Get employees involved in what’s next. Once employees understand they are important to the ongoing viability of your company, encourage them to uncover and share ways to improve efficiency – to find a better way. If employees believe their ideas will be heard and implemented, they are more likely to go above and beyond. Attaching rewards to great ideas and sharing them corporate wide also cultivates an environment of value and security.

3. Dole out “thank yous” and compliments. When raises aren’t possible in tough economic times, it is imperative that leaders and managers increase their efforts to bestow positive praise on a regular basis. Heartfelt words of recognition and encouragement have a way of immediately lifting spirits. Look for ways to call out a job well done, whether it’s submitting an error-free report, staying on task with a high-profile project or working well with others on a team initiative. For most employees, being valued and praised for their hard work is just as important as a paycheck.

Previous posts:
Through thick and thin, it’s the people who matter most

Why it’s just as important to dole out the praise as it is the pay

1 comment:

Anonymous said...

Apparently one of the reasons for people to leave their jobs is the lack of trust in their organizations. Feeling left out and don't see an opportunity for them to move up the corporate ladder.

It is apparent that leadership and compensation framework in organizations is often the key to ensure that its employees retain and have the right mindset.

But at times leadeship might not be the only critical factor to ensure retention. Interpersonal work reationships between employees and departments are also important.

Especially in large organizations with many departments, mutual collaboration is required for each entity to achieve their individual goals. Often many disagreements arise due to opposing views and 'push away' of job responsibilities.

HR department in huge organizations often do not get to see the full picture as most of the time they are cooped up with their transactional roles to be bothered with the role of an employee champion. (Espcially in Asia)

The belief that tackling on such problems would heal the wounds of a high attrition rate is close to zero in the eyes of the management. This is no surprise as they often crave for immediate success and results which in this case is impossible.

Perhaps each entity/department should have their very own HR personnel, to assist if not observe and provide solutions of such issues to the line managers.



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