Friday, January 7, 2011

Elevated HR Solutions: New Years Resolutions May Mean Higher Turnover

Just like clockwork, the end of the first week of 2011 had my phone ringing non-stop.  Employees have decided to resign and my clients (and potential clients) need help to replace and/or have asked me to complete exit interviews of their departing staff.

Unfortunately this was not a surprise to me as unemployment rates have started to drop as recovery from the recession continues and employees start to feel confident enough to look for a change. Those companies that used the phrase, "Stick with us during the hard times and we'll reward you when we get through it," need to either pony up or watch their A-Stars leave. This is the perfect time for it - as New Year's resolutions are most acted upon within the first to two weeks of the new year. 

If your company still can't necessarily afford raises or bonuses (or any of those recession promises made), a company's next greatest defence is communication.  Grab your A-Players and make sure that they know they are that (A-Players). Remember - the whole carrot and the stick trick is running out.  So try to give them something like meaningful praise or maybe an extra day or two off before things get crazy in 2011, or perhaps a gift certificate for dinner and an offer to pay for the sitter for a night - anything that would be customized to the person's life outside of work that says, "We care! We want you here!"

If you can get through January, you've got a chance to keep them hooked again for the year.  Of course, employee engagement and employee enablement initiatives should technically last more than a month - but that's another blog!

Happy New Year All!

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