Where Did All Our Employees Go?
Imagine it’s a typical Monday. You arrive at the office and go to your desk and begin your day as usual. You come across an article that needs to be shared with your co-worker across the hall, so you get up to take it to him. Then you realize, “Boy this office has changed a lot, I almost don’t recognize anyone.” As you come up to your co-worker’s desk there’s a memo, informing the staff, “of the 100 employees in the organization, only 16 have decided to stay this year. We will try to replace them shortly.”
Seems almost impossible to believe, but according to a recent survey by job-placement firm Manpower, 84% of employees plan to look for a new position in 2011.
What Does This Mean?
Surveys can sometimes exaggerate on intentions and fall short on hitting the number of people who actually carry out those designs. Even so, 84% is a large number of people who are not satisfied with their current company, so much so, that they are seeking to employ themselves elsewhere.
There are a number of take-a-ways that can come from this.
1. The Best Employees Don’t Even Like Their Jobs
To really grasp why this study is so shocking you have to consider who it is they are polling. These aren’t the thousands that were let go during the recession, or those that were leaving on their own merit. These are the employees that companies wanted to keep because they were the most talented, had the right networks, were experts, etc.
Even after being selected as the top of the top in your organizations, you wanted out as well.
I lived through this outcome myself. At a previous job I stayed there just a year before finally finding a job to replace it. By the end of that year, the only people who were still there from when I started were my manager and the owners. Witnessing so many people let go or leaving on their own terms, was incredibly draining. How could I feel comfortable in a company that volatile? I imagine I wasn’t the only one feeling that way.
2. New Confidence
After witnessing the last couple of years, confidence has made a shift in two ways.
First, employees may be losing confidence in the businesses they work for. Even if you were the few that were picked to carry the company into the future, you may feel skeptical about how long that faith will last. Another perspective to consider is that you may be highly regarded in your company and have no chance of being let go, but your talents are limited by the company or you see weaknesses the business isn’t willing to face.
Second, employees are gaining confidence in themselves. There is evidence that many future job openings may have some prejudice for hiring those who are already employed. To have survived the economy with a job means you have to be doing something right and employers understand that as well. For many, they have been holding back jumping ships, because they have felt grateful to even have their job. As more options begin to open, the temptation to move forward will increase.
3. The Talent Ship Swing
Think back to the last time you were at a carnival or amusement park. Remember that ride where people strapped themselves on a giant boat while it would gradually swing from one side to the next until it almost would flip over completely?
Right now the workforce talent pool is acting like that ship. Under normal circumstances the ship swings back and forth gently as talent is leaving a company and replaced by fresh talent. Over the last few years, the boat has been emptying and trying to balance the remaining shipmates. The vessel is left with only the best captains and first mates who are carefully keeping the boat from swinging wildly out of control. After a short time, even most of those stellar crew decide to leave.
What happens now? The few remaining veterans are suddenly caught out of balance. The boat shifts towards wherever the weight is gathered. Even when the remaining leaders try to fill in the gaps with new deck hands, it takes the new team time to get balanced again. The boat pulls high in the air on the left and then to the right. Only after all the replacements of talent are comfortable with their new roles does the ship finally stabilize and correct back to a safe gentle swing.
It will take some major adjustments on both employees and companies to adapt to a change as high as the one predicted. Fresh talent has its benefits, but it still takes time for employees to feel comfortable and productive in a new culture.
What Can You Do About It?
1. For Individuals
If you are one of those considering new job opportunities, set realistic expectations. The market is still having low job numbers and getting a new job takes time. Also realize that competition for the jobs may be tougher. Instead of competing against a majority of applicants that may have been laid off, chances are you will be competing against others, who like you, were kept on for their exceptional talent.
2. For Businesses
We coach a number of businesses about employee retention and recruiting. One thing that has become invaluable to our clients is having a foundation and understanding of their employees. We discover the employees’ values, behaviors, and motivators through a set of TTI assessments which are both EEOC and OFCC compliant. If you don’t want to lose your top talent you need to understand how your employees are feeling, so you can take care of their needs.
We provide free samples and consultations if you are interested.
Image courtesy of simononly
