An article earlier this week in @Risk talks about the fact that over half of the working population are unhappy with their current employment situation, are will consider changing when the economy and job market improve. “As companies have cut their staffs by 10-20%, many candidates feel they have been pushed to their limits; they’re being asked to put in more hours and take cuts in pay and benefits without any recognition for their efforts,” explains Jason Breault, who works at TopGrading Solutions and specializes in recruiting Supply Chain Planning and Procurement professionals within Consumer Goods companies. The productivity losses from top talent looking toward the door may prevent your firm from returning to prerecession levels of growth. Strong talent management is crucial going into the recovery, and companies cannot afford to treat employees as if they should be thankful they have a job.
Folks, this is the wake-up call. If you or anyone on your management team has ever spoken the word "Be thankful you have a job" to one of your employees, its time for an attitude adjustment. Maybe they should be thankful, but that doesn't mean you should take advantage of your employees. If you've made cuts in pay or benefits to keep the business afloat, that's fine, but make sure people understand that it is TEMPORARY and that you will restore those levels once things pick-up. Too many companies "realize" that they can get more for less from their employees because of this economic situation and think that they can continue this trend, but the fact is that people will not continue to accept work conditions like that in the future.
Make sure you're treating your employees with respect and they will reward you with their efforts and stick around.