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  Press Release
For Immediate Release
8/2/04
Contact: Roger Herman

Economy Spells Trouble for Employers

As the economy continues to improve, employers are enjoying increased orders. The stronger business means greater profits, a welcome trend for any company. Behind this curtain of euphoria lurks a serious danger for employers, warns workforce trend watcher Roger Herman.

Workers are restless, explains Herman, CEO of The Herman Group, a consulting firm specializing in workforce issues. "A great majority of employees are unhappy or unfulfilled in their current positions. When they see opportunities to leave for greener pastures, they'll jump the fence. Often those moves will be sudden, taking employers by surprise. A "domino effect" can follow, stimulating the departure of a significant proportion of a company's workforce in a relatively short period of time."

Watching trends in the workforce and workplace, Herman observes that many employees feel trapped in their jobs. "They had plenty of choices of places to work in the late 1990s, then the alternatives were abruptly halted by the downturn in the economy. The energy and desire to change jobs, to choose employers, is still very much alive."

Monster.com, the well-known Internet job board, recently took a survey asking 70,000 workers if they would leave their job if they had a chance. Eighty-nine percent of them replied in the affirmative. "This is huge!," Herman exclaimed. "It means that almost 9 out of 10 workers are receptive to job offers or would respond to advertisements for positions that looked better than their current situations."

In a tight employment market, it will be increasingly difficult to recruit replacements for people who leave. Employers who have not been taking good care of their people, providing visionary leadership and effective management, may find themselves without enough employees to accomplish the company's work. Without sufficient employees, keeping customers and cash flow will be next to impossible. Without the ability to recruit and retain quality workers, employers will be forced out of business.

Author of Impending Crisis: Too Many Jobs, Too Few People, Herman asserts that corporate leaders need to wake up and take action. His book, designed to be an alert for executives, has enjoyed months on the best seller list. "I'm delighted to see that the book sells well," says Herman, "but book sales are not the same as concrete action."

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: joyce@hermangroup.com.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            


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