Recently we’ve read a lot about how the future of employment could mean workers staying three years at a company then moving on. Unsurprisingly, employers are saying not so fast. But the reality is it’s now up to employers to create new ways to counteract this trend.
So why are people moving on? Usually it’s about salary and opportunity. Wages stagnated for many in the workforce over a long period of time. Many employees reasoned they would have to give themselves a raise and move on if they were ever going to get a raise. Ironically, wages are finally starting to move upward and not just for the upper echelons, but for all workers. This could be too little too late to avert the three and split trend we’re seeing. That’s not to say it can’t be done, and if you want to cut attrition, you should think hard about these four things:
Growth and opportunity:
If you’ve got ambitious employees then make a path for them to grow and succeed within the company.
Ongoing education and training on the latest and greatest trends, challenges, products, methodologies, and innovations is important. Encourage your employers to participate in different conferences and panels by picking up the tab. And pair your younger employees with a like-minded mentor.
Make sure employees know how their work contributes to the overall vision of the business, and that their contributions matter. Do this early and often.
Earn respect by being fair and honest. Clearly communicate goals and stay loyal. Employees who like their managers stay in their jobs.
As an employer you can buck this trend, but not by ignoring it. You don’t want to have to deal with the knowledge drain and lower morale. Like anything else, these are difficult to right once the momentum shifts in a certain direction. Assemble a team, maybe from HR or another department that can tackle these issues head on and come up with good ideas for keeping people in their chairs.
NextGen is the brainchild of longtime telecom professionals with nearly 50 years of experience and millions of dollars in Telecom Recruiting Services. We focus on establishing long term relationships with our clients and candidates so we can recruit the best and the brightest in the telecom industry. This ‘quality over quantity’ approach is at the heart of everything we do and has resulted in successful job placements at Fortune 1000 firms worldwide.