Closing The Satisfaction Gap
The previous post included survey data indicating large numbers of employees report they do not expect to remain in their current job when the recession ends. Since we appear to be riding a slow wave to recovery, employers still have the opportunity to commit to
a retention strategy.
You can use The Flourishing Process to get started -
Clarity
Does a satisfaction gap exist for your employees?
What is needed to close the satisfaction gap?
Below are the results from a survey of executives to increase your clarity.
Choice
What do you choose to do to close the satisfaction gap in your organization?
Action
What will you do today?
What will you do next week?
What will you do in the next 90 days?
Employees predicted to jump with economic recovery
Who doesn't want an economic recovery - soon? It may be accompanied by an unexpected surprise - the potential loss of your best employees when things turn around.
A recent survey of employees conducted by Deloitte Consulting LLP presented very sobering results. When asked if they would stay in their current job when the recession ends, here is what employees said:
- only about 37% of Gen Xers plan to stay
- 44% of Gen Yers plan to stay
- 50% of Baby Boomers plan to stay
- 52% of senior citizen workers plan to stay
Understandably your focus is likely on more immediate business concerns but leaders who do so while neglecting retention may be in for a shock when the employment market opens up. How would you manage a mass exodus of your talent pool just as you are growing and expanding?
Where to start? Identify your high performers - the ones who could cripple your business with their departure. Plan to meet with them - talk with them - ensure you know what is important to them. Act on what you learn - it's often non-compensation issues that help employees feel they are a valued member of your team.
This initiative could turn out to be the best investment of your time. If you get dragged into a high turn over situation, it can drain your operation with the time and expense to recruit, lost productivity and institutional knowledge walking out the door. Based on the data, it seems like an invest -your-time-now or scramble-later decision.
We've been busy at The Flourishing Company!
Each year at The Flourishing Company we dedicate pro bono hours to work with organizations in Northwest Ohio. While these pro bono engagements have typically supported non-profit boards, The current employment market motivated us to reach out to professionals in the Greater Toledo area currently in search of employment.
We were inspired by a segment presented by Tory Johnson on Good Morning America showcasing the power of job clubs. Joining with other local leaders who believe in the need to help fellow members of our local community, we came prepared to share our time and expertise!
The Flourishing Job Club (TFJC) launched in April and just a few short months later we held a press conference to announce a permanent home. The Toledo Regional Chamber of Commerce has assumed day-to-day operations with a new name, the Chamber Job Club.
Learn more about The Flourishing Job Club as our sister blog http://www.jobclubswork.blogspot.com/.
Watch the announcement video featuring Heather Bradley, President & CEO
Welcome to the new TFC Blog!
Our goal for this blog is to connect you with resources and information to help you flourish.
We promise we will not clog your Inbox - we only post links to value-added material.
We are so glad you have decided to join us in this journey.
Heather Bradley
President & CEO