A lot of people were taken by surprise several weeks ago when the filings for unemployment claims came out. Most of the experts were predicting that 9 million more people were going to file for unemployment. Instead, 2.5 million people ended up going back to work and the unemployment rate dropped. Were they ever surprised! Over the past 30 years, this employee recruitment expert has seen organizations fall into the trap of short-term thinking all too many times and then get taken by surprise.
With the pandemic, we have become obsessed with this event. Granted, the pandemic has required a lot of extra effort, turned business upside down and changed the way people have had to change the way they do business. But, they have adapted. Business is amazingly resilient which is why the economy will turn around. Business is also amazingly short sighted. We tend to look at the current quarter or perhaps the next six months. This is going to be disastrous from an employee retention perspective. Building employee retention is about strategy and being in it for the long haul. If we take our eye off the ball many organizations will be in deep trouble when things turn around.
Anyone who is talking to people knows that a lot of people are just sitting tight and biding their time because of the uncertainty. They are just itching to make a job change. At the first signs of an improvement, people will start to move. When that happens, a lot of organizations will be caught between a rock and a hard place because business will be picking up AND people will be leaving. They will scramble to meet customer demand and lose out on opportunities in the marketplace. So, what is the answer? Dust off your employee retention strategic plan NOW and look at it because the 2.5 million people coming back to work was a warning sign to be ready.
If you don’t have a strategic employee retention plan, this employee retention trainer believes you need to write one. The last thing you want to be is be like Sgt. Carter when one of your employees shows up in your office and says, “Surprise! Surprise! Surprise! I’m quitting!” Remember…Give Your Employees C.R.A.P.® (Caring, Respect, Appreciation and Praise) Why? Because C.R.A.P. Works!
Reach out to me on LinkedIn, call or text me at 414-305-9626 or click on the link below to find out how to Give Your Employees C.R.A.P.® AND reduce employee turnover by 35-80%