"38 percent of small business executives rank attraction and
retention of talent as their top business concern for 2006."
- "An Executive Guide to 2006 HR Trends" from TriNet
When employees feel overworked, under-recognized and taken for granted, eventually they find new work that offers them what they really want. It should be no surprise that "being taken for granted" does not appear at the top of any of the lists of what talented workers want in a job. Items that repeatedly appear at the top are:
 |
Good communication with the organization's leadership |
|
Recognition for personal contributions |
|
Opportunities to learn and grow |
|
Respect for the organization's mission and vision |
|
Fair compensation based on performance |
|
Talented people are your most valuable as well as your most perishable resources today. We are beginning to experience the skilled labor shortage forecast by the US Bureau of Labor Statistics. The bottom line is that by 2010 there will be a shortage of over ten million workers, taking into account a shrinking international workforce, and the mass exodus of the Boomer generation.
Roger E. Herman is a recognized visionary and authority in the field of Workforce Stability. In his book "Keeping Good People - Strategies for Solving the #1 Problem Facing Business Today," Herman features this list of the main reasons why talented people leave their jobs and go elsewhere:
"I don't get what I need to get my job done."
| |
Contrary to opinions heard all too often from management, people really want to do a good job. When they're frustrated by too many rules, red tape, incompetent supervisors or co-workers, inadequate tools and equipment, or insufficient information, people look for other places to work. |
"They wouldn't miss me if I were gone."
| |
Even though leaders do value employees, they don't tell them often enough. If people don't feel important, they're not motivated to stay. No one wants to be a commodity, easily replaced by someone off the street. If they are regarded as expendable, they'll leave for a position where they're appreciated. |
"There's no opportunity for advancement."
| |
The issue here is learning. People want to learn, to sharpen their skills and pick up new ones… If workers can't find the growth opportunities with one company, they'll seek another employer where they can learn. |
"It doesn't feel good around here."
| |
This is a corporate culture issue in most cases. Workers are concerned with the company's reputation; the physical conditions of comfort, convenience, and safety; and the clarity of mission. |
"The compensation doesn’t meet my needs."
| |
Workers want fair compensation, but the first four reasons take priority. If they're not well-met, but money's high, you'll hear people say "you can't pay me enough to stay here." |
Talent acquisition and retention have become serious topics in the workplace. What will it take to prevent a talent drain in your company? Now is the time to take aim at that answer, before another company beats you to the draw.
Every organization is challenged to employ and retain the best talent possible. Today, talented employees are in demand - and on the move. Take time to review what employees want in a job, and develop targeted strategies to keep top talent working for YOU.
Contact HRGroup to assist you in achieving your business goals by implementing successful talent acquisition and
retention strategies! |
