Employee retention
What impact do you think that the current state of the economy has on employee retention?
The econonmy at it is now has a negative impact on staff retention. Mainly as employees know poeople are desperate to keep their jobs so they dont emphasize on staff retention because a lot of people are unemployed and are seeking jobs.
Clytie,
Although good employees tend to have many options and will move on, most employees hope to be retained with their current employer. Employee retention can also be negatively impacted by reductions in staff. People tend to be concerned about their job security which creates productivity as well as potential health issues from the stress.
Pat
I'm seeing a positive impact on our employee retention in these tough times. Our employees are complaining less about pay, etc., because they realize how many other people would be thrilled to have the jobs they have. None of them want to be faced with the prospect of having to look for a job right now when there is so much competition in the field. They seem grateful to be employed and, believe it or not, more cheerful and enthusiastic when called upon to do something extra that may have been considered to be burdensome in the past. I do take the time, however, to let them know I appreciate them and what they do, because it's rare for upper management/owners to do so. Morale has been low for some time based on lack of pay increases and acknowledgement from the upper ranks for a job well done.
Patricia,
The recession and potential job loss has hit all businesses and occupations. The education industry is no different although we do tend to be anti-cyclical. We are seeing enrollments increase as the unemployed re-tool. But that doesn't mean total job security for our faculty and staff. Therefore, I agree with you that we have employees who are appreciative of the jobs they have and will work harder to keep them. We as supervisors, though, shouldn't take that for granted. I like your idea of acknowledging a job well done. It is those little things that cost so little but mean so much in terms of employee morale. Those happy, content employees will in turn treat our "customers"/students better and, as a result, we will see better retention and better student outcomes.
Pat
Pat
Our employees are grateful to have steady work and are willing to go the extra mile.Due to the economy impact, it has been noticeable that employees are definetly more motivated and focused
to accomplish there tasks 100%.They want to make sure
they retain their job positions, and not feel the stress of being in danger of unemployment.
Marietta
I think the current situation of our economy definitely has an impact on employee retention on two parts. First from the employee perspective to reevaluate their own job performance and work on areas they can improve or sustain to keep employment. Secondly from the employer perspective if a company suffers a financial downfall, the decision of whether downsizing personnel would have it's benefits.
Marietta,
Sorry about my delay in responding to your post. I have been in Orlando for the Career College Ass'n. Convention and Board of director meeting since Saturday with limited access to e-mail.
Most institutions are experiencing similar situations with regard to employees being happy just to be employed. We still want to make certain that we are treating employees with dignity and respect and showing appreciation for what they do to contribute to our institution's success so once this recession ends and employment opportunities become available, our best employees don't jump ship. Students connect with faculty and staff. If particular individuals leave, students might choose to leave as well.
Pat
Dolly,
There are also fewer opportunities for employees to move to a new employer because fewer companies are hiring. There is a possible difference in the career college sector, however, since our enrollments tend to be growing with increasing need for good, high quality staff and faculty.
I like your idea of having employees re-evaluate their own job performance. As supervisors, we need to be willing to assist them in this effort.
Pat
The impact in the current state of the economy is very notisable. Employees want to maintain their jobs and as a result of that, productibity has improved.
Addys
I believe it has a positive impact on employee retention; although, it could be for all the wrong reasons. With the state of the current economy, employees are going to be less likely to leave their current jobs because they understand how difficult it is to find work right now. So, rather than leaving a job they are unhappy with, they will stay and remain unhappy and not be as productive as they would be if they were satisfied. I have noticed that our school is booming right now. I guess that when the economy is down, people go back to school. So, we are hiring instructors and have higher enrollments than we have ever had. The competition is fierce to be an instructor at my school and we are able to hire very qualified, motivated individuals who are very grateful to be hired. They share their experiences with our veteran instructors and I have noticed that moral seems to be higher nowadays among the instructional staff than it was when the economy was good. I believe that this is because we are hiring a higher caliber individual on the front end and the existing instructors are grateful to have jobs. We can not take this for granted though and need to continue to ensure they understand that we value them as employees and individuals.
Hi Richard,
You are right on target with your response regarding the impact of the current economy on employee retention. If there are a number of employees who fall into the category of "unhappy," it might be worthwhile to do an employee satisfaction survey to see what is causing that unhappiness. So often we fail to ask our employees and that can lead to further unhappiness. Once we know, it is imperative that we make attempts to fix it. Employee dissatisfaction can be tied directly to student dissatisfaction and dropout problems.
Your experience with the high enrollments is typical in our sector when unemployment rates are high. The situation that you describe will have a positive effect on your student retention statistics and employee morale. It is important to show faculty and students alike that you value them so that those retention numbers remain high. Everyone wins in that environment.
Pat
Yes. The current state of the economy has had an impact on employee retention. Employees are slower to jump ship with the notion that the "grass is greener" elsewhere. With proper support from management employees can learn better coping, stress management, and communication skills as their concerns regarding the economy forces a certain level of patience and sense of long-suffering.
Veronica,
Keeping employee satisfaction at a high level ensures that they won't jump ship once the economy improves either. Just as it is important to take good care of our students, the same is true of our employees. Turnover costs money. Therefore, keeping it to a minimum in a good or a down economy is important.
Dr. Patricia Kapper
I have noticed a positive impact on job satisfaction, retention and appreciation of the company benefits. In the past, when the market was plentiful you would often hear employees comparing compensation and benefit packages of our competitors. Now, they are happy to have stable employment and the benefits our company has to offer. Some employees stay out of neccesity, as they may be at the point in their career where they want to explore other opportunities, but remain in place, thus stagnant in their careers for fear of not finding something else.
Debra,
A good manager should be able to recognize when employees are beginning to get stagnant and find ways to challenge them and find ways to get them excited about what they are doing. The performance review is a great avenue for having these kinds of discussions but they don't always need to be that formal. Informal conversations regarding the employee's performance, done in a non-threatening manner, can be viewed as a way to show you care and can inspire job satisfaction.
Dr. Patricia Kapper
Employee retention has increased as a result of the economic hardship created and experienced by unemployment. This is not a good time to be voluntarily leaving a position, or performing at less than optimal productivity levels on the job. The challenge for the manager is to create alternative ncentives that inspire continued productivity and loyalty to the company when raises in salary are not an option.
People in the demographic area where our school is located are looking for any type of employment. Anything. What is it? I can do it! The tips and lessons given in this webinar on how to make the right hire are valuable at a time when everyone interviewed represents themselves as potentially qualified.
A related challenge we are experiencing is that students who enroll in the school are either unemployed and have difficulty affording the cost of training, or withdraw from the program if and when they are offered an employment opportunity. School is a priority, however, not the top priority in comparison to immediate income. My correlation is that employee retention and student retention are polarized; most people can only afford to do one or other other.
I agree with your summary, and just wanted to add that the lack of increase in salary is often accompanied by the request to perform additional new tasks for that same salary. In order to keep burnout at bay, it is more important than ever to discuss time management and prioritization with employees, and to just check in and make sure they have what they need and are doing ok.
Susan,
This is where good delegating kicks in. Asking others to take on additional responsibilities needs to take into consideration what that person might gain by way of professional development by doing so. We talk about the WIIFM. If there is nothing in it for the employee, employee morale will plummet as will job satisfaction. But if you give serious thought to what new skills can be gained, it does become a win-win situation.
Dr. Patricia Kapper
Susan,
Great points, Susan. We are in a difficult time and having a job is not a given and yet it is a necessity for most people. I, too, am finding that I am getting candidates who have no where near the qualifications for the position and yet they apply. It is frustrating because you still have to review the application and that is a time consuming task. You make an interesting point about the employee retention and student retention being polarized. There is probably a lot of truth to it although I have never thought about it quite that way. And I don't notice it so much because employees are not leaving voluntarily, and, if they do, there are many applicants seeking that vacant position. It is an interesting dilemma.
Dr. Patricia Kapper
