When reading an article in the Wall Street Journal from this past week about how unemployment is at its lowest rate since 1996 and how companies need to focus on keeping people, this employee retention speaker and employee retention author thought about how many organizations have been treating people, particularly in the past 10 years since the “big recession.” Many companies are in for a RUDE awakening. Why? Because they have not learned how to treat people and are conditioned to think that people are expendable and replaceable. Well…it’s time to wake up…or else.
If organizations don’t wake up quickly and change their culture to being one that is “people centric” they will be on a decline to irrelevance and possibly extinction. Employee retention is about your culture and you don’t create a culture overnight. People have long memories and if they have not been treated well over the past few years, when opportunity knocks for a new job they will be gone. However, it may not be too late as long as companies wake up quickly, and start to take action.
The one advantage this employee retention trainer thinks organizations have in their favor is that there a lot of organizations that simply don’t get what is going on and are in denial that it can finally be an employee driven market. That gives those organizations that wake up quickly an edge that might just save them. You don’t have to be the fastest person, just faster than the people you are racing against.
People have to change their mindset that profits come first. Don’t for a minute think I am some socialist…because that is the farthest thing from what I am. It is just a question of how do you get to the sustained profits over the long-haul. The mindset needs to be one that you create a high-performance culture through hiring, developing, engaging and retaining your people. When that takes place, profits will take off and be self-sustaining. Tom Peters pointed that out in his book “Good to Great” years ago yet some organizations read the book and continued doing things in the same way because they could get away with it. Well…the day of reckoning for the old ways is fast approaching.
The crisis of a severe labor shortage has been looming on the horizon for years. It is now becoming evident as you drive down the street and see multiple signs that say “Now hiring.” Those organizations that wake up quickly, may just have a chance.