From jobless recovery to employee shortage?
Business Week Online has this story: “Coming Next: A War for Talent;”
When employment finally picks up, “Experts predict that annual voluntary turnover could rise to 20% or more for white-collar workers, as companies bid for top talent and star employees start heading for the exits.”
“READY TO BOLT. It has been three long years of doubled-up workloads, minuscule raises, and ungrateful bosses — and American workers are fed up. In the late 1990s, when even modest performers could drum up multiple job offers, such treatment would have led to a mass exodus. Today, it has many workers quietly updating their résumés and biding their time.”
Survey estimates of such employees range from 15-50%.
“The bottom line: After years of cracking the whip, employers who want to win the coming war for talent need to start giving their troops a compelling reason to stay.”
“Most susceptible of all are the people companies can least afford to lose.” A recent survey found the best workers had the worst attitudes and were more likely to be planning a job search.
“[B]usinesses need to get moving — now. Managers need to do a better job of differentiating stars from underachievers. Well-structured incentive pay, such as stock or options tied to specific performance goals, can help. But even that will do little to motivate employees if the job feels like a dead end. Managers should be looking for ways to give star players more responsibility, greater autonomy, and a clear shot at advancement.”
“After all, the best time to talk your most valuable players into sticking with the team is before they’ve begun scouting opportunities with competitors.”
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