|
Below, you'll find extensive information on leading
best workers compensation attorney articles and products to help you on your way
to success.
Employee Retention
By Mike Beitler, Sat Dec 10th
As a management consultant, I have seen some poorly conceivedretention policies at otherwise well-run companies. Thephilosophies underlying these policies lack some basic knowledgeof two things: 1. human nature, and 2. the changing world around us
Human Nature Let’s start with human nature. The practice of managementrequires an understanding of how people work. Successfulmanagers can be forgiven if they do not know how a particularmachine works, or how to debit and credit the general ledger, orhow to write HTML code. But, managers must know how people work.Specifically, they need to know how people work well. People are motivated by goals… their own! Organizations thathelp individuals achieve their goals and career aspirations haveless trouble with retention. Are you helping your best employeesachieve their goals? I recently read some research findings that were just plainsilly. The findings you ask: Workers leave organizations for tworeasons: 1. they feel mistreated or unappreciated 2. they can get more money/compensation from another organization The researchers went on to say, most workers are unaware of moremoney at other organizations until they feel mistreated orunappreciated. Did you catch that? If not, re-read the “two”findings. Here’s my interpretation: If you treat your workers well andmake them feel appreciated they will stay with yourorganization; money is not the primary driver for workersleaving. Help you workers achieve their goals. I believe“appreciative” workers are more motivated than “happy” workers. Before you think this is more “soft” management talk, let’s lookat some “hard” facts. The average cost of hiring a new worker isone-and-a-half times the worker’s annual salary. And, theaverage worker will need a year to master his/her job skills. The Changing World Around Us As the world changes around us, we must change the way we thinkabout retention (and everything else). Gone are the days of thehomogeneous workforce. The world is
being changed by unstoppabletrends: globalization and an aging workforce. Future work teams will include three generations of workers (a23-year-old worker, a 48-year-old worker, and a 73-year-oldworker), workers with different religions and nationalities, andworkers with dramatically different life experiences. The brain drain in developed countries can be slowed byretaining older, highly skilled workers. But, that is not nearlyenough. Companies must compete globally for talent. (Andremember what is necessary to retain these individuals. We mustunderstand their individual goals and career aspirations.) American companies that hope to depend on American talentexclusively will fail miserably. American knowledge workers arelosing their competitive edge. Let’s look at some more “hard”facts: 1. In China, 42% of students earn undergraduate degrees inscience or engineering. In the U.S., the figure is less than 5%. 2. Only 70% of U.S. high school students graduate. The U.S.public education system was recently ridiculed by a British newsjournal. When you consider that the British public school systemis arguably the worst in Europe, Americans should hear this as awake-up call. 3. Only 32% of U.S. students leaving high school qualify toattend a four-year college or university. Add to this some alarming facts about off-shoring. Oneorganization recently said it was off-shoring jobs to India notsimply because the cost was lower, but because the quality ofwork was better. The off-shoring of high-level professional jobs(such as engineering and IT) is now a common practice. Conclusion Organizations must do two critical things: 1. develop retention policies that recognize the need tounderstand the individual workers’ goals and career aspirations,and 2. learn how to recruit and develop talent from around the world. These are big changes for most organizations. Is yourorganization ready for these changes? About the author:Dr. Mike Beitler is the author of "Strategic OrganizationalChange." Get a free 7-part mini-course and learn more about thebook at http://www.strategic-organizational-change.com
|
