The Significance of Employee Retention in the Twenty First Century
The business model in nearly every department of the modern business has been undergoing continual change in the last 10 years to such an extent that it becomes important to step back and review how we do business in every aspect of company life in light of new markets and new techniques even our staff do business. This is equally as true in our HR Office as it is in Selling. The labor pool is changing and the effect on the base line of the business can see be serious if we don't change how we go about recruitment and view worker retention given the changes to the available educated work out there to draw upon for our staffing needs.
Worker retention and how we approach the concept of keeping employees over many years is a sector where certain assumptions must be challenged if we are going to remain competitive. Some guesses concerning worker retention that are speedily becoming obsolete include:
- There is an unlimited resource of fervent staff out there to fill my staffing wishes.
- It's clever to cycle workers into and out of the company because that keeps benefits costs down.
- The "my way or the road" approach to management is the only real way to go to enforce your vision for how work will get done.
- Staff are commodities.There are always more where they came from.
- Workers should be grateful solely to get a check.
- It's better to keep a youthful staff and to move older staff out of the work place.
The labor pool in changing with shifts in the demographics in the country and those changes make these guesses obsolete and dangerous if we are expecting to keep a staff that can provide quality support for our business aims. As the "baby boom" is leaving the market and being replaced with a smaller and less skilled youth population, we've got to adjust our expectations both vis hiring and retention.
Potentially the most wide-reaching change we have to become used to is to start to view workers as valued assets and to give major attention to retention, not just annually at performance review time but on a regular and regular basis. The assumption that workers will work for us for a check and that we can exert leverage in the management situation due to a massive labor pool we can tap to replace unhappy employees has changed into a defective approach to people management.
The truth is the pool of talented labor is shirking at a worrying rate. If you happen to have a staff of skilled folks who you have invested in to bring up their data and ability levels, that is an investment worth. Talented and educated workers are in short supply and, above everything else , they know they are in heavy demand so they can move from job to job without difficulty if they become discontented at their present work place.
These changes to the model of emplacement excuse a corporate wide reevaluation of retention policies and strategies. The HR Dep. should be on the vanguard of changing the business's attitude towards staff from one of us against them to one of worker empowerment and partnership.
The managers who will shine at maintaining valuable, productive and trained staff will be those who see the work relationship as a contract in which managers have responsibilities to employees to assure their continued expansion and success just as the employee must pull his weight in the company. A partnership approach to management will go a good way towards bettering the company's retention profile which will be of benefit to the business in a multitude of ways.
Worker retention and how we approach the concept of keeping employees over many years is a sector where certain assumptions must be challenged if we are going to remain competitive. Some guesses concerning worker retention that are speedily becoming obsolete include:
- There is an unlimited resource of fervent staff out there to fill my staffing wishes.
- It's clever to cycle workers into and out of the company because that keeps benefits costs down.
- The "my way or the road" approach to management is the only real way to go to enforce your vision for how work will get done.
- Staff are commodities.There are always more where they came from.
- Workers should be grateful solely to get a check.
- It's better to keep a youthful staff and to move older staff out of the work place.
The labor pool in changing with shifts in the demographics in the country and those changes make these guesses obsolete and dangerous if we are expecting to keep a staff that can provide quality support for our business aims. As the "baby boom" is leaving the market and being replaced with a smaller and less skilled youth population, we've got to adjust our expectations both vis hiring and retention.
Potentially the most wide-reaching change we have to become used to is to start to view workers as valued assets and to give major attention to retention, not just annually at performance review time but on a regular and regular basis. The assumption that workers will work for us for a check and that we can exert leverage in the management situation due to a massive labor pool we can tap to replace unhappy employees has changed into a defective approach to people management.
The truth is the pool of talented labor is shirking at a worrying rate. If you happen to have a staff of skilled folks who you have invested in to bring up their data and ability levels, that is an investment worth. Talented and educated workers are in short supply and, above everything else , they know they are in heavy demand so they can move from job to job without difficulty if they become discontented at their present work place.
These changes to the model of emplacement excuse a corporate wide reevaluation of retention policies and strategies. The HR Dep. should be on the vanguard of changing the business's attitude towards staff from one of us against them to one of worker empowerment and partnership.
The managers who will shine at maintaining valuable, productive and trained staff will be those who see the work relationship as a contract in which managers have responsibilities to employees to assure their continued expansion and success just as the employee must pull his weight in the company. A partnership approach to management will go a good way towards bettering the company's retention profile which will be of benefit to the business in a multitude of ways.
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