I read an interesting column today, 2011 could mark beginning of true recovery, by local author Jerry Thurber. He’s talking specifically about the employment background checking industry, but when it comes to recovery, this clearly applies to all the corporate customers which will hire companies such as his.
I thought I’d mention a couple of his ten points:
Turnover is going to go up big time. Employees are itching to move around. As the economy starts to create demand, people are going to move around more. Face it – many of you have been making life miserable for your employees these last two years. It is payback time.
This reinforces what I’ve been talking about, that there are a WHOLE LOT of disenfranchised employees that are looking to change jobs. Maybe you’ll get good people from your competitors in exchange for those you lose, and that can even be a good thing.
To a limited extent.
When you lose a critical mass of your top performers, you may have lost your business. Your expertise is in your people.
And following the above, there’s another important point:
Fraud and abuse will increase. This is a tough one for me to even write down, but it is going to happen. Traditional mores that keep fraud and abuse at bay have unraveled somewhat these last two years. Workplace instances of fraud will increase.
When employees don’t feel like they’ve been treated fairly and respected by their employers, they no longer have the same bond of civility. And this is something you can’t effectively address through rules and policing. Sure, some of that might be necessary, but in the end, if your employees don’t feel fairly treated, they’ll find ways to subvert the rules and damage the business.
The path out of this is to focus on rebuilding trust. It’ll take a long time, a lot of concerted effort, but it’s the only way.
Give your employees reasons to want to stay, to contribute, and to grow. They’ll stay.
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- Leadership principle #2: People need a purpose
- The impending crisis in employee retention
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