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Wednesday, October 21, 2009
Beware the Mass Exodus of A-players
Today we have an employee engagement crisis. Employees are more frustrated and less productive than in any other time in recorded history. And, it's getting worse. Maybe a lot worse!
Over the past year, most organizations have successfully decreased overhead expenses and increased cost-savings. However, they’ve done this at the expense of increasing the stress and burnout of their best people.
Has your company gone through a “reorg” or significant layoffs in the past year? Studies show that 72 percent of companies have since the economic downturn began last year.
How has this affected employee engagement?
Engagement has dropped nearly 10 percent from 2008 (where it was already at an all-time low).
Engagement among top performers has dropped 23 percent.
The number of top performers (A-players) who would recommend their company as a place to work has dropped 20 percent.
Top performers are 14 percent less likely to want to stay with their company.*
So what does today's employee engagement crisis mean for tomorrow?
Laura Sejen, global director of strategic rewards consulting at Watson Wyatt, had this to say, “Having less engaged and committed workers is a major concern for employers. This could have a long-lasting and detrimental impact on productivity, quality and customer service, as well as increase the risk of companies losing their best employees.”
I predict a mass exodus of A-players is coming! It may have already started.
The best way to get and keep A-players is very similar to getting and keeping customers. Your company needs to Achieve Brand Integrity, i.e., actually be who and what it says it is. Engage employees with the company values/mission/objectives and then
recognize
them when they do what is expected (or better yet, more than expected) to help the company reach its stated goals. The number-one reason why employees stay loyal to a company is because they feel appreciated for doing a good job. And employees who live the brand every day know how to deliver the experiences customer's want, which in turn leads to increased customer loyalty and greater profitability.
What is your company doing to keep its A-players?
(*Statistics from: WorldatWork, "Economic Downturn Leading to Decline in Employee Commitment, Morale, Watson Wyatt and WorldatWork Survey Finds," news release, September 21, 2009)
Wednesday, October 21, 2009 11:21:55 AM
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