Even though it's at "Employer's Market" with millions of capable people looking for work due to the recession retention mistakes.
Mistake # 1: Assuming employees "will not dare now leave due to the recession."
Many organizations have discontinued their employee retention programs, figuring they are not needed because their employees would be crazy to leave now.
While it's true that most of your good employees will not leave now, some employers loose some of their most valuable services during downturns and recessions.
Having already undergone several waves of layoffs, many organizations now operate as lean as possible, continuing to employ only their critical and best performing skills.
If even one of those keys or high performers leaves, the impact can be significant.
Every time there's more bad economic news, reduced customer orders, or another layoff, many employees ask themselves, "I wonder if I'll be next?"
If another employer, possibly one of your competitors, can offer you a job with more security, do not you at least consider it?
Or, if your families are complaining about workloads and time off home, including nights and weekends, and other job offers.
Is this really the time to risk losing the employees?
You are looking for ways to better serve and retain customers, not dealing with costly employee turnover.
Reason # 2: Assuming other employers are not hiring or making strategic job offers.
Many organizations have only their most valuable employees: the ones with the skills, knowledge, expertise, customer relationships, and highest productivity.
All of these are things other employers, especially competitive ones, value.
Even though their talent management plans do not involve hiring new employees now, some employers want to make special allowances to key employees.
And, so it's not unheard of for one or more existing employees to gain another employer's star.
Mistake # 3: Not talking to your best people about how they're coping.
Many high performing employees were already working full time before the recession; now, many of them have even more demands and responsibilities.
Meet with them one-to-one in private, asking questions like these:
1) Do they feel overloaded or overwhelmed? If so, what might help reduce this? Can some of their work or projects be delegated to others?
2) Have their families complained about the hours they're working?
3) What would you like to do?
4) If they were going to leave the organization within the next 6 months, what might make them do so? (Do not be afraid to ask this question fearing you & # 39; re putting thoughts in their heads that are already there.
5) How do they describe their relationship with their immediate boss?
While this dialogue is always important, it's always important now; It is one of the most effective employee retention strategies.
Mistake # 4: Not paying enough attention to the relationships between employees and their immediate bosses.
Research has continued to show that the relationship between them and their employees.
If your boss places more and more demands on you while you are doing so, then you will promptly get some employees to look at the recession over.
Train managers how to retain good employees; make retention part of their job descriptions; and make good employee retention at least 25% to 33% of their bonuses. Employee turnover usually wants to decrease.
Notice that the one-to-one conversations previously recommended can help you become uncomfortable in this area.
Mistake # 5: Assuming Employees Will Stay Once the Recession's Over.
Just because you do not work during the recession, you can not assume it's over.
Because they often do.
After several past economic downturns and recessions, the Society for Human Resource Management (SHRM), reported that two-thirds or more of employees intended to seek new employers.
When the economy improves, you do not want to spend your time on employee recruitment, you want to take advantage of increased business and recoup lost revenues.
Avoiding these five employee retention mistakes will help you avoid spending at least hundreds of thousands of dollars and substantial amounts of administrative time.
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Source by Ross Blake