I have been preaching for a year about the mass exodus on the way for many companies. Are you feeling it yet?
I have a couple of friends that have already left their jobs this year and a few others looking. In this small, very biased sampling, all of them left because they felt they did not have a future at their current company. The prevailing thought was they could stay in their current job and have a very safe career, with little opportunity for advancement and receipt of small cost of living adjustments each year. Or they could seize the opportunity and see what new adventure was in store.
This is consistent to what I have read as well, employees are leaving because they have been asked to take on more work, for little to no additional pay, no cost of living increases, and little hope for advancement.
As the economy turns around, you would hope companies would start making money again, which Senior Leaders promise will lead to pay increases and advancement. However, I think this is a gamble employees are no longer willing to take. This elusive brass ring somewhere down the road is no longer enough to keep employees.
I put together Walker's data for every client's employee survey over the past two years and the Truly Loyalty percent was 43%. Nationally, I have never seen the percent Truly Loyal higher than 34%. This tells me companies that are doing the right things to engender employee engagement are reaping what they sow and seeing very high percentages of Truly Loyal employees.
How many employees have you lost this year? 5%? 10%? 15%? MORE??? What are you doing about it? Are you accepting it as a "just the way it is" or are you taking steps to strengthen employee loyalty? Companies should have been thinking about this 12 months ago, but there is no better time than today to start focusing on how you can keep your top talent.