Loyalty slipping: Top performers more likely to jump ship
November 6, 2009 by Jared BilskiPosted in: Benchmarking, Communication tips, In this week's e-newsletter, Latest news & views, Management issues
Between tanking retirement plans and company belt-tightening, it’s been a rough year for many employees — and it’s top performers who are taking it the hardest.
While the engagement levels of all workers have dropped by 9% over the past year, it’s top performers who are the most dissatisfied with their current situation. These employees have experienced a 25% drop in loyalty and motivation.
These findings are courtesy of a recent Watson Wyatt survey.
What’s worse: These employees are 14% less likely to stay with their current employer once the market improves.
Combine these findings with other research that says most workers are planning to ask for a raise once the economy recovers, and it’s clear that employers have to take action soon.
Here are two strategies to help retain valued staffers:
- Make retention efforts transparent. Most employers do everything they possibly can to retain top talent. Where they fall short: making sure employees are aware of all of their retention efforts.
- Talk out salary decisions with staffers. If raises, bonuses, etc., aren’t an option right now, show employees why — and be as honest and detailed as possible in your explanation.
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Tags: Belt-tightening, Economic recovery, Engagement levels, Retention, Satisfaction, Top-performers, Watson Wyatt
November 9th, 2009 at 1:08 pm
I am a top performer, the only person in the company who hasn’t been either laid off or downsized. I am steadfastly loyal to my employer, and I have taken on many additional duties which are unrelated to my position in an effort to help my employer survive. However, it has been extremely stressful, and my attitude has suffered, so I feel I must indeed seek other employment as soon as either the company is back on its feet or completely succumbs.