During the last year, companies have frozen pay increases and/or hiring and many performed large scale layoffs. This left companies with no other option but to squeeze as much productivity out of the remaining employees. This was a wise move in a hostile economy, but at some point staff will begin to suffer. With the economy recovering, employees feel more freedom to leave their current position. Evidence of this is seen in the Quits Rate reported by the Department of Labor and numerous surveys that report anywhere from 30 to 84 percent of currently employed workers are seeking new positions.
In fact, a People Science survey from May 2010 observed this trend as well. When the news reported a steadying economy in the 2nd quarter, we measured a sudden increase of 45 percent of workers seeking new positions through a client poll.
As the economy rebounds and employment opportunities increase, the first step to safeguarding your workforce is ensuring that employees concerns, complaints, and requests are heard. Our next entry will discuss solutions to deal with such issues.