The natives are restless and the entrepreneurs are getting creative.
As the economy improves, ever so slowly, talented employees are actively looking for new opportunities. Research results recently announced by the Society for Human Resource Management suggest that as many as 75 percent of today's workers expect to change employers within the next 12 months. People who have been passively looking for new jobs are more active, and some have already begun to move.
With the elections behind us and the new year just around the corner, employers are sensing the increasing unrest and turbulence in the workforce. Indications are that we may see a significant churning in the employment marketplace during the first quarter of 2005. Employee retention is once again becoming a vital corporate strategy.
Numerous consultants, trainers, and speakers have become overnight experts in employee retention. They create gimmicks and seek ways to compete with long-established experts in the field, such as The Herman Group, based in Greensboro, North Carolina. Roger Herman, founder of the firm, is the author of Keeping Good People, the first management book written on the topic of employee retention.
The latest creative idea is the outsourcing of employee retention services. This approach assumes that retention is a transactional process like managing benefits programs or payroll. With the push for more outsourcing, with human resources being a target area, there is a potential for some employers to contract with outside firms to manage retention.
"An employer outsourcing employee retention is like a married couple outsourcing lovemaking," says Herman. "Employee retention is based on relationships, not metrics. Employee relations is a leadership responsibility and, like corporate policies and organizational culture cannot be outsourced."
Workforce stability will be a competitive advantage in the years ahead, Herman advises. "Employers who attract the right people, develop and optimize their talent, and emphasize employee retention will control increasing market share." In his latest book, Impending Crisis: Too Many Jobs, Too Few People, Herman warns that employers who fail to treat their employees like treasures risk losing the capacity to serve customers and earn sufficient profit to stay in business.
The Herman Group is a firm of consulting futurists concentrating on workforce and workplace trends and their implications. Emphasis is placed on employee selection and retention as critical strategies. Included in the firm are researchers, professional speakers, authors, and consultants. The Herman Group is based in Greensboro, NC, with affiliates in Sao Paulo, Melbourne, Hong Kong, and Port Louis, Mauritius. Contact Joyce Gioia-Herman at 336-210-3548 or e-mail: email@example.com.
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