As the economy improves and the Great Recession winds down employers can start thinking about adding new staff or bringing back those who were laid off. While this is great news for businesses, stunned employers may find realize their own employees out there job hunting.
While those who held on to their jobs through the Great Recession may seem an unusual group to be looking for work, those who held down the fort during the poor economic times may be the first to walk out the door.
Fifty percent of workers who left jobs in the private sector in September quit, compared to 42% for those who were laid off or fired, according to the Bureau of Labor Statistics November 9, 2010, news release “Job Openings and Labor Turnover-September 2010.”
This statistic should come as a shock for those employers who have weathered the economic storm, as they now realize the very people who helped them get through it may be planning on leaving at the first opportunity. Considering the jobless rate is still around 13% in many areas, this willingness to move on should alarm supervisors and business owners.
Why are the employees, who were able to keep their jobs during the downturn, now suddenly jumping ship? According to John Challenger, CEO of Challenger Gray and Christmas in "Firms May Face Brain Drain" by Jack Katzanek in the December 31, 2009 issue of The Columbian, it is about compensation. “A lot (of workers) have thought that during the recession they hadn’t been paid enough and they hunkered down and waited,” he said, “Now the situation is improved and they’re the first ones to vote with their feet.”
Add to that the resentment that many workers may feel for the cut hours, lay off threats and requirements to do more work with less pay or help they have endured and an exodus may be pending. Frustrations that have been held in check may begin to boil over as opportunities begin to show. Of course, employers may also be surprised to realize that Gen X and Gen Y workers, have been job hunting all along.
Competitors Stealing Employees
Surprisingly, it’s not just the employees who are looking for new opportunities. Employers may be shocked to find that their competitors are actively working to steal their employees away. After all, why bring in someone who hasn’t worked in two years when they can have someone who has been up and running all along?
In his article "Poaching Experienced Officers, Part 2" in the January edition of Law and Order Magazine Dwayne Orrick tells recruiters to “listen for the five common “hot points” that indicate dissatisfaction with their current position…These include the current department or community, type of boss, job responsibilities/duties, career advancement opportunities and salary,” to entice employees to leave their current position.
Orrick goes on to discuss ways employers can protect themselves from poachers, but this concept of poaching should still be a wake up call. While not all companies have the payroll to increase wages or benefits for their employees, they can start making plans now to entice those workers not to leave.
Employers must approach this challenge from the aspect of rewarding their employees for sticking it out through the Great Recession, for being part of the team that kept the business afloat. Before looking at a bottom line profit for the company, smart business owners may do well to share the recovery with those who made it possible. If not, they may find their best employees taking their skills and knowledge to someone who will.
Kelly Sharp - Kelly Sharp holds a Master's degree in Education and a Bachelor's degree in Communication, and has been involved in training in a variety ...
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