The recession might be over, however, it doesn’t mean that employers can now relax and enjoy their mojito. Researchers in the job market are predicting upticks in job churn as the employment market improves. Many businesses, especially in the IT industry, can attest that the days of sorting through the stacks of high-quality resumes fighting for a lower salary position are over.
Employers everywhere, you are now officially on notice —your workers are increasingly confident that they can find jobs elsewhere, and turnover rates may be about to increase. A survey from Glassdoor.com (http://bit.ly/jB3xBo) shows growing confidence about the job market, even as companies continue to squeeze their people on compensation. All of which will be another disruptive and costly outcome of the recession for those who don’t prepare. The key is hanging onto those team members now that the job market is opening up.
And losing people is really easy. Here’s the usual scenario: The manager runs their department with crisis management, throws work on his team members at the last minute and expects the work to be finished yesterday. As you can imagine, this results in a high stress environment, and extremely long hours. This formula of “short term gain for long term pain”, usually results in high turnover.