We've Lost Another

Last week, the Wall Street Journal reported that companies throughout the country will undoubtedly see a sharp rise in voluntary turnover (HR-speak for people who quit their jobs on their own volition) as the economy continues to improve. This should be of absolutely no surprise to devotees of TJOW, you amazing readers, as we've mentioned several times here over the last few months that employee commitment to their company and their job have taken a significant hit of late.

You know of what we speak, of course, because you're living it. Sad, we know.

The article, summarizing recent research, makes a number of important points, including:

• The recession has delayed the normal job-hopping that typically occurs as people move to advance their career, thus creating a back-log, so to speak, of impending departures
  
• Downsizing and cost-cutting have undermined employee engagement and morale (something we've focused on here), and
• A large segment of workers -- 60% in one study, 57% in another -- have already decided to leave and may be beyond 'saving'. Our data suggests that both estimates may be a shade low. Just ask your co-workers.
  

And who are these people who are planning to leave? Top performers. Those who believe that their potential has either not been recognized or valued by their current employer. Those who saw co-workers treated badly during layoffs. Those who themselves have been treated poorly -- additional work and/or longer hours without additional pay, stunted career growth, insufficient communication -- as their company attempted to cope with the economic downturn. Those in growth industries where opportunity abounds (e.g., technology, health care). Those who just can't take it anymore.

We're talking a huge number of talented people who are already looking -- and planning -- their departure. Companies beware.

So, what to do about it? A very good question -- especially for any company that could be hurt by a rapid loss of key people. Which, by our measure, is just about every company out there.

Suggestions cited in the article -- town halls and individual one-on-one meetings to discuss grievances -- fall, in our humble opinion, far short of the steps required to avert a huge exodus of top talent. Talking, while important, only goes so far. In this instance, action is demanded. Actions that will reconnect employees to their company, re-energize them, and provide a satisfying career path. Tangible actions that prove to employees that their company does, indeed, values and needs them.

There is a solution. One that works. One that will help sustain and, in many cases, accelerate a company's growth.

Call or write if interested. Given the data, you should think about calling very soon.

Speaking of untimely departures, we lost another great one last week. Gary (whose best role was in Avenue Q) and Art's deaths (who, very wisely, let the kids do the talking) were one thing. Losing Dennis Hopper was quite another. One of the wonderful character actors of our time, not to mention talented artist and activist. Dennis made mediocre movies worth watching (Waterworld, Speed) and created roles we won't soon forget. Easy Rider was just one of many.

We'll miss you, Dennis. A lot.

Have a good week.