Like everyone else, I’ve been trying to read the tea leaves on the state of the economy. Being an optimist, I tend to focus on signals which indicate that we’re pulling out of this recession.
On balance, though, there’s just a whole lot of uncertainty. Jobs are still going unfilled, coaching contracts are being delayed or even canceled. Companies just aren’t certain enough about the future to be making significant investments in the development of their people.
That’s a mistake, of course. Understandable, but regrettable.
This reinforces the messages to the workforce that they need to be looking for alternative employment as soon as possible. Job-search websites and discussion forums are more lively than ever, and not just for those out of work. I’ve had lots of discussions with people who are planning their next jump, and just waiting for the right time to pull the trigger.
The longer companies wait to take action, the more this is irreversible.
Over the last 15 years of my employment, I had a chance to observe a great number of downsizing exercises, finally being given the opportunity (!) to participate myself. I observed and tested the following psychological dynamics, which have now become my own principles for understanding people who are voluntarily or involuntarily leaving their employment:
- There are a great many factors contributing to your decision to leave. The most powerful are those which are closest to you: your direct manager and colleagues. The larger dynamics of the company, being further away, are a lot less influential in your decision.
- Likewise, events which are most recent have the strongest impact on your decision to leave. “Recent” seems to be about the last six months; that timeframe is most relevant for “how the company is treating me.”
- Once an individual has made the decision to leave, there’s almost nothing that can change that decision. This is because they’ve started talking to others, and getting their mind ready that their future no longer lies with this employer. If they’re forced to stick around (say, to pay the bills in the short term), motivation is at an extreme low and their life is quite painful. It’s not uncommon for them to make their co-workers’ lives miserable as well, in subtle or overt ways.
I’m observing that an unusually high number of people are currently deciding that their future no longer lies with their current employer – the highest I’ve experienced in my 32 years in industry. The employers that don’t recognize this, and aren’t working to rebuild relationships with their employees, will likely see historically high turnover once the opportunities present themselves.
And remember, top talent have the easiest opportunities to leave.
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