One in three employees is ready to walk

"Hello, I must be going." With employee loyalty hitting a three-year low, this might be the rallying cry of more and more employees in the coming months.

In its 9th Annual Study of Employee Benefits Trends, MetLife reports that one in three workers hopes to find a new job in the next 12 months. And they're confident they'll be successful in their search. According to another study (this time a survey by Glassdoor.com),  four in 10 self-employed, full-time and part-time workers believe it's "likely" they will secure a job that matches their experience and salary in the next six months.

Many factors are to blame for the morale free-fall, including stagnant wages, busted bonuses, longer hours and heavy workloads. The combination is stressing employees out and testing their loyalty to their current employers.

"Businesses are understandably focused on expenses," says Ronald Leopold, vice president of MetLife's U.S. business."But they're taking their eye off the ball with human capital issues, notably what drives employee satisfaction and loyalty."

So now what? Do you resign yourself to the situation at hand -- or get serious about boosting employee satisfaction? Are you ready to tip the balances in favor of your employees, especially those you'd hate to see leave?

Let's dip into the HR Forum vault for some great ways to boost employee morale no matter how tight the budget:

First, give 'em what you can. Even if it's a 1% raise or a one-time bonus, let the hard-working double-duty working employees you still have know you are stretching the limits to give them SOMETHING. Remember, a flat wage means your employees are actually losing money year after year. (A caveat -- make sure your pay increases for senior management are just as flat as those in the rank-and-file. They will find out, no matter how closely you try to guard that secret!)

Second, reward them with cost-free pats on the back. Let them take some time (during work hours, and of course, paid) to learn a new software, take a personal interest class at a local college or community center, or volunteer for a favorite charity. For the parents, make school assemblies, musical productions and end-of-the-year award ceremonies something they can attend without using their leave time. Boost their paid vacation time by one day, or declare their birthdays (or the next working day after it) a paid holiday for each employee.
   
Next, work on what they're called. Give them a title that honors all that they do, even if the pay isn't there just yet. Of course you have to make sure the titles don't get your business into trouble with FLSA rules, but even within those guidelines, there is plenty of room for more impressive (and morale boosting) job labeling.

One in three employees is ready to walk

Morale, Schmorale -- Why treating employees badly now will hurt your business later

We all know the job market is a mess.

People with Masters degrees and years of experience are competing for entry level contract temp positions that used to go to college students looking to pick up some resume lines between their junior and senior year. Staffing levels at most companies are at all-time lows. And sales? Oh, let's not even go there.

By all accounts, this looks like a buyer's market when it comes to hiring and retaining talented employees. After all, where are they going to go if they express their discontent and write out that two week notice?

The answer may be "No where." And you may have them by the ... well, you know. But that's only for now. But like the proverbial elephant who never forgets, the mistreated, misused or abused employee will keep those memories for a long time. And when the economy recovers, you can bet your best and brightest will be out the door first, looking for greener pastures and better opportunities.

No matter how easy it may seem to keep people with no raises, lousy hours and triple assignments now, the best companies and the best managers know this kind of strategy will only doom their business in the long run. Sure, even the most forward-looking companies may be slashing their payrolls in order to ride out the storm, but they are treating their survivors well. They are paying attention to employee engagement.

And that means they are building a solid core of loyal, capable, well-trained and committed employees for the future.

When new hires come on board in the future, they'll need to learn the ropes and get some experience under their belts. And that core of solid, well-treated employees who lasted through the dark days and the down sales and saw their company's commitment to them will be the first to draw new staff members into the fold and make sure they understand just what a great company it is.

So what do you do when the budgets just won't bear a regular or standard pay raise? How do you say thank you to employees in a way that matters?

• First, give 'em what you can. Even if it's a 1% raise or a one-time bonus, let the hard-working double-duty working employees you still have know you are stretching the limits to give them SOMETHING. Remember, a flat wage means your employees are actually losing money year after year. (A caveat -- make sure your pay increases for senior management are just as flat as those in the rank-and-file. They will find out, no matter how closely you try to guard that secret!)
• Second, reward them with cost-free pats on the back. Let them take some time (during work hours, and of course, paid) to learn a new software, take a personal interest class at a local college or community center or volunteer for a favorite charity. Make school assemblies, little kid concerts and end-of-the-year school award ceremonies something they can attend without using their leave time. Boost their paid vacation time by one day, or declare their birthdays (or the next working day after it) a paid holiday for each employee. (I once worked for a company that did this, and it did make every employee feel special!)
• Work on what they're called. Give them a title that honors all that they do, even if the pay isn't there just yet. Of course you have to make sure the titles don't get your business into trouble with FLSA rules, but even within those guidelines, there is plenty of room for more impressive (and morale boosting) job labeling.

Posted via email from G-Neil's Posterous

Morale, Schmorale -- Why treating employees badly now will hurt your business later

Top employee retention tips and advice

With the economy the way it is right now, many businesses are worried about losing top talent only to be short staffed when the market turns around. Today it’s all about employee retention strategies that will keep employees happy and motivated in their current positions.

You could be like Google and use a mathematical formula to calculate when a staff member is most likely to leave the company, but most would probably reach for a more conventional method. Luckily, there’s a world of valuable resources out there to help you discover the best option for your team.

Here are some of the top blog posts and articles on employee retention from across the Web:

• Along with being “desperately” short staffed in skilled jobs, many leaders are also facing an increase in the number of toxic employees and their impact on the organization. Read how leading with gratitude can make your workplace better from Globoforce.


• Though budget cuts and layoffs may be a necessary evil during a recession, organizations can boost morale by giving employees challenging assignments that promote growth. Read more on how to incorporate “stretch goals” in this recent BusinessWeek article.


• Times are tough everywhere, but it’s still no excuse for bad management behavior. Read what Jessica Lee from Fistful of Talent would tell a badly behaving manager who’s worried about employees leaving.


• The revolutionaries at Renegade HR take a slightly different approach and suggest that you shouldn’t focus on employee retention at all. Instead, “recruit great people and inspire them to do amazing things.”


• And for a little laugh, check out the top three retention strategies that didn’t quite make the cut from Upstart HR. One tip: Don’t use a hitman.

Top employee retention tips and advice