Extraordinary Business

Imagine for a moment that over the next two weeks more than half of your top talent walked out the door. What's worse is they actually set their plans to leave six months to a year earlier. What would you do?

Many companies could start feeling that pain in the coming months. In a new article by Joe Light from the Wall Street Journal, the number of employees voluntarily leaving their place of employment was higher than the number of people being laid off or fired for the first time since October 2008. This is a sign that people are growing more confident in a strengthening economy and are willing to seek out a new employer. The article also mentions a poll conducted by Right Management that 60% of those workers intended to leave their jobs when the market got better which implies that there are many who may be working for you that have already checked out.

As our economy begins to grow again, companies may start experiencing a new form of downsizing where the talented work pool leaves the companies that sparred their positions. If your best talent were to leave and go to your competitor, what would you do?

Be proactive with your people. Speak to them openly. Engage them in the future of your company. Give them an active role in its growth. The costs of finding new talent can be as high as several times that person's salary.

What are you doing to keep your top talent?


Source: http://yhoo.it/aHTk8e

Labels: "Dan Paulson", "Daniel Paulson", "InVision Business Development", "Wall Street Journal", Business, Business Coaching, Economy, Organizational Development, Strategy, WSJ