There was unexpected good news lately with the nation's unemployment rate dropping from 10.2% to 10% . . . doesn't seem like a lot, but it's a start. The forecasts for spending in marketing and advertising are trending up for next year. There's already more hiring activity in the 4th quarter than many would have expected. I'm betting that lots of employees are just biding their time, before they move to a new opportunity.
A survey by benefits consultant Watson Wyatt found that the "engagement" or loyalty, of top performing employees has dropped by 25% over the past year, largely because people who kept their jobs have been soured by layoffs, bonus and benefit cuts, and a stoppage in promotions. Many employees are keeping their eyes open for their next opportunity.
Employers seem oblivious to making the necessary effort to retain those top performing employees. While compensation and benefits are obviously very important, they're not the only drivers of employee satisfaction. Employers could be creating better work cultures. They could be more aware of what their employees are thinking, by engaging with them . . . yes, actually having a conversation with them in an effort to find out what's important to each one. I'm not talking about those conversations that happen during "reviews", either!
They'll find that something as mutually valuable as training, or ongoing education is high on most employees lists of things they want more of. Smarter employees add more value to their employers . . . seems so simple. Many employees would also like the opportunity to diversify what they do everyday. They'd like to work in other departments. Many would enjoy a lateral move to another position in the same company . . . just doing something different can be refreshing and fun. The result for the employer is employees who are cross-trained, and know more about how the company works, creating a beneficial redundancy . . . all while making the employee happy too.
I've stopped being shocked by hearing the things that consistently drive employees crazy. At the top of that list is "micro-management" by the boss, or the lack of anyone listening to what are in some cases outstanding ideas to help efficiency or profitability or client retention. Simple "communication" is a the top of many lists as well.
My point is that I believe employees are getting ready to move as soon as they can. It's similar to 2001 and early 2002, when there were huge layoffs, and very few real marketing "career" opportunities. Employers had employees working additional hours, while being understaffed ("lean" as employers call it). There was nothing an employee could do, other than simply be happy they're employed.
I know most who are employed today are thankful. We're getting through the worst economic climate in any of our lives. Being employed, even unhappily, is an ok thing. Employers had better start paying attention, and working harder for their employees, or they're going to be very unhappy when the exodus begins.
What do you think? Do you think your employer is taking advantage of you, or taking care of you?