Loyalty in a Flush Economy?

 

 The threat of pink slips has prompted plenty of people to work scared and to give everything to their jobs. Overtime isn't that uncommon anymore. Nearly 40 percent of all workers spend at least 50 hours on the job per week,” according to Leslie Haggin Geary.  During the economic downturn thousands of employees were laid-off.  Their remaining colleagues were forced to add-on to their responsibilities.  Now that indicators point to improvement in the economy, employees are evaluating their career options.  They may not be apt to remain with a company that have cut their benefits and froze their wages while increasing their work hours.  Though employers can easily find replacements for these workers, the failure to change the nature of job roles can lead to high rates of voluntary turnover.  This will cost your organization dearly.  Recognizing and rewarding the sacrifices that employees make to compensate for the work that was done by others, before the company downsized, goes a long way in your quest to retain productive employees.

 

Source: Leslie Haggin Geary (11 November 2003).  “I quit! Overworked employees are fed up: A survey finds 8 out of 10 Americans want a new job.”  CNN/Money. Retrieved from: http://money.cnn.com/2003/11/11/pf/q_iquit/index.htm