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Employee Retention

The Great Depression

As of this writing the global economy, specifically the North American economy is booming according to all indications. What’s interesting is that as the economy grows so too does employment rates; in turn creating more opportunities for employees. I challenge you to walk two blocks down any city street and not stumble across a help wanted sign.

Although a strong economy is good for business, it can also be a challenging time. Most of the CEOs and Executives I’ve connected with during the past several months are finally feeling the pinch of finding talented and qualified people, a warning we faced back in 2007/08 that never came true on account of the global recession that followed quickly thereafter.

As a business owner or leader this challenge can be overwhelming. A statistic I recently stumbled across in fact suggests that nearly 50% of the North American workforce are actively looking for a new job right now.

Depressing isn’t it?

Fortunately there is something you can do. As the ability to recruit people to fill vacancies becomes more difficult you need to make it a priority for people to want to work for you. I tell my clients to follow the motto, “if you build it, they will come.”

To help you do this I’m sharing with you some ideas which will be published in my upcoming book “The Unstoppable Organization,” due to be released December 2017.

1. Ask your current employees why they come to work every day and why they stay? What is it that makes you an employer of choice for them?

2. Ensure all departing employees have exit interviews. Use this as an opportunity to understand why they are leaving. What could you have done differently?

3. Aside from taking action on feedback from employees in points 1 and 2 above, how can you make your business a place people want to work? Is the office or plant bright and well lit? Are employees cheerful? Do you take time to have fun with employees periodically? As my father says, “all work and no play makes Jack (or Jill) a dull boy (or girl)!

Avoid being caught in a depressing wave of good people leaving by focusing on making your place of work a place that people actually want to work at. Consider the environment, your approach to leadership, how employees treat each other and so forth.

Alternatively, you can wait and see what happens…let me know how that works for you.

© Shawn Casemore 2017. All rights reserved.

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