In the wake of the current strenuous economy, not only businesses, but individual employees as well, are feeling the stress. With the number of employees being laid off and hours being cut, the employee turnover rate is in danger of a noticeable increase.
Along with the burden of financial concerns, employees are even more stressed by the weight of watching coworkers being given the axe and wondering if and when they could be next.
It is crucial in this time of economic stress for companies to keep their employees happy. In order to do so, it is important to make the employee feel needed by commending them on their successes and openly communicating with them so that they do not feel lost. Employee turnover could potentially be a huge threat if the employee feels that, once the financial burden has dimmed down, they no longer need that stress.
Some degree of employee turnover is likely inevitable. However, it is imperative that companies start to really stress about employee sourcing and executive searches now, in order to lessen that threat as much as possible.Published by Conselium Executive Search, the global leader in compliance search.