Are Fellow Employees Getting Ready To "Jump Ship" When Economy Recovers?

Are fellow employees in your company getting ready to jump ship as soon as the economy turns around? How about leaving before the economy turns around?

I had the chance yesterday to speak at a local HR "Lunch & Learn" session. Talked about the coming "Fruitbasket Upset" of employees leaving current employer to go someplace else. Bosses think just because certain employees have kept their jobs during the economic crisis, these same employees will be loyal and stay with the company when things get better.

According to a recent survey by Monster and HCI, those bosses need to do a quick reality check:

• 57% of workers believe employers are exploiting the recession to drive longer hours and lower pay from their workforces;
• Only 26% excuse their employers for conducting layoffs and forcing longer hours .
• 74% believe their employer is using recession for employer’s benefit
• 58% believe employers are less concerned about employee retention, if they were ever even concerned at all
• 50% of workers are more concerned now about top performers leaving than before the recession;
• 53% have a decreased company loyalty
• 79% are more likely to be seeking jobs elsewhere

Some studies indicate that as many as two-thirds of employees are ready to go. Unfortunately, few corporations are preparing today to handle the dramatic increase in voluntary terminations that will come tomorrow.

“Today’s employers feel that employees are loyal due to the economic times, but the reality is they are not,” said Katherine Jones, HCI Research Fellow. “Because of this, there is a strong likelihood that when the economy turns for the better, employers could find themselves with valued employees jumping ship. This places pressure on them to put retention measures in place now.”

How about you?  Is your employer doing any kind of effective workplace retention? How long will you stay?

Post a comment or send an email to jmitton@mittonmedia.com.