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.
