by Don Lowman
The big myth: “Employee turnover will be less of a problem in 2009 because jobs are scarce and companies aren’t hiring, they are laying people off.”
I am amazed that some pretty smart companies believe this to be true. I know why they say it — companies everywhere and in every industry are laying off employees, or have said they plan to, and people should just be happy to have jobs, right?
For some, that may be true. But what about your most critical people — your top performers in your most strategically important functions? Are you taking them for granted? Are you assuming that they are in the same boat as everyone else? Are their managers paying attention to them?
My strong advice to you is to pay attention to them now, let them know how much you appreciate them and reinforce how committed you are to their careers. Your smart competitors will see the current environment as an opportunity to build their talent bench and/or upgrade their staff at a lower price than might have been the case a few months ago.
Your best people are always going to be in demand. Make sure they know that they are in demand where they are now! Stay close to them, know what they are thinking, understand what their concerns are, recommit to their careers and help them to have a clear picture of what their career holds with you. Don’t wait until they tell you they have one foot out the door to let them know how much you care. Re-engage them now and they will deepen their commitment to you at a time when your competitors may tempt them to think otherwise.
-Don
