What Would It Really Cost?
I recently received a newsletter from an online employment company, who apparently have discovered some of the reasons companies lose good employees. Unfortunately, their revelations are not new ideas to those who have worked in Corporate America.
Compensation Benefits other than wages may also include insurance, paid vacation, paid holidays, etc. Rising insurance rates force some companies to decrease the company paid portion of the insurance, resulting in a large net increase in employee contributions. Workforce reductions often bring an increased load on remaining employees—lessening the opportunities for needed time off. Competition in the workplace can lead to additional stress where vacation time becomes a necessity rather than a luxury. Management and Retention Communication As with most issues in life, the solutions are there for those who actually look for them. Employers who are concerned about keeping valuable employees will spend more time and resources cultivating better relationships with their employees, including training their management teams in better communications. Recognizing that their employees are their most valuable resource, smart companies will become successful by providing the compensation and environment their employees need to be comfortable in their positions. Happy employees increase the bottom line. Here’s hoping 2006 will be the year where employment in America can be a win-win situation for both employers and employees.
Although money is certainly a big motivator in any employment, leaving a company because of low wages rates only about 31%, as a reason for people to look for a new job. Still, that means that about 1/3 of the workforce is unsatisfied with the wages and benefits they are getting for their work.
In an informal survey conducted by Monster.com, about 29% of those surveyed "did not like, respect or get along with their manager" and was a significant factor in their decision to leave. Which brings to mind a line I once gave in response to an employers questions as I handed in my resignation: “People don’t work and excel for a company, they work and excel for the people they work for”. Simply put, no employee can give their best efforts if they don’t have confidence in, and unless mutual respect exists between employee and management. Long gone are the days when employers could expect to disrespect or overwork their employees and still have a viable workforce.
For many years the bane of corporate existence has been endless meetings. Apparently, way back when, studies recommended that companies give more “face time” to their employees—make them feel like they were a part of the decision-making process. In theory, bringing more minds into solving problems should make the overall process stronger. In practice, this process often amounts to a platform where; employees can be berated or embarrassed publically, or managers untrained in proper communication allow the meetings to be bitch sessions rather than productive time.