If CIOs didn't have enough to worry about these days, a new report by Robert Half Technology suggests many lie awake at night worried that their best employees will fly the coop as the economy recovers.
Heading into the New Year, 43 percent of 1,400 CIOs interviewed said retaining existing workers will be their No. 1 staffing priority in 2010. Considering U.S. unemployment will top 9 percent through 2011, according to University of Michigan economists, perhaps job security is buffeted a bit. But as former Intel Corp. (Nasdaq: INTC) chairman and CEO Andy Grove has famously said: "Only the paranoid survive."
"Technology teams, in particular, are experiencing rising workloads as businesses move forward with projects previously put on hold," said Dave Willmer, executive director of Robert Half Technology. "Employers need to focus on preventing burnout and keeping their best people engaged at work. This may be a challenge, given that staffing cuts and the reduction or elimination of benefits have left many employees feeling overworked and undervalued."
"Companies may have to work at 'reselling' themselves to existing employees in much the same way they would when promoting themselves to prospective hires," he said.
Willmer offers the following 10 tips for retaining your top performers:
Re-recruit your best workers. Talk with employees about what might enhance their job satisfaction and remind them of the unique benefits provided by your company. Emphasize what your firm has to offer, whether it's a great corporate culture, solid financial standing, or strong industry reputation.
Invest in professional development. One in five (21 percent) CIOs polled for the Robert Half Technology survey said they plan to offer more training and professional development for their staff in 2010. Online learning opportunities, mentoring programs, and tuition reimbursement are all good options.
Provide opportunities for career advancement. Structure positions so employees can develop their careers without leaving your firm. Offer promotions to workers who have demonstrated they can succeed at the next level.
Recognize excellence. It seems obvious, but a simple "thank you" and public acknowledgment of your staff's contributions will strengthen their loyalty.
Communicate regularly with staff. Maintain an open-door policy year-round. Workers want to hear about company news, in good times and bad.
Provide project support. Employees who have lost coworkers to layoffs are, in many cases, now doubling down. If hiring is not an option, consider bringing in project professionals to help alleviate workloads.
Encourage more team-building activities. No doubt, many companies have cut back on employee perks, but an occasional group activity, such as an off-site lunch, can make them feel more appreciated.
Consider compensation. While not all firms can offer employees increased salaries, there may be potential for spot bonuses at the end of a major project or team accomplishment.
Promote work/life balance. Give staff members the option to follow a flexible schedule or telecommute one day a week. It doesn't cost anything to implement these changes, and workers will appreciate the leeway.
Evaluate workloads. While every project may seem like a priority, there are likely some that can take a backseat to more pressing matters.
Also keep in mind that despite your best efforts, change happens, and there are influences outside of your control that impact your team's decision to continue to operate under your roof.
— Michael Singer, Senior Editor, Internet Evolution. His focus includes executive issues... What's top of mind for CEOs, CIOs, and CTOs?
Great tips. I believe the No. 1 issue is really Tip #1. That results in our recognition of the value of the people we currently employ and an effort to strengthen that relationship.
The ability to really build and retain a competitive workforce is going to be a continuing differentiator of good companies and managers of the future.
These tips will make us all more effective. We do need to go back to the basics, the people we hire, before attacking the great global challenges.
Thanks for the comment. I'm thinking the best way to implement tips like these in your organization and others is to start talking about its value to the company as a whole. That's where you will get the fastest buy-in from executives.
Sometimes management is accused of paying lip service when they talk about the importance of talent and then turn around and ignore achievements and use all kinds of excuses (budget, politics, etc.) to prevent advancement. You don't have to host weekly parties like we all did in the dot com boom days. A lot of little things add up. One of the simplest lessons I learned when I started my management track is to acknowledge that your team is made of people with homes and familes and dreams of their own.
I recently coached a colleague who was frustrated about the lack of 1-on 1 time she had to interact with her staff. I told her that it's not 10 percent or 50 percent of your day that you have to exhibit these tactics... it's 100 percent. The real ROI of using these tips is that you grow your brand loyalty... from the inside.
What happens to the disgruntled employee or teams of employees who decide to leave? More often than not, they start their own companies... and establish a product that could be your next biggest competition.
The tips in this article are wonderful and I know that I'd like to see many of them implemented at my company, but I know that the perks once enjoyed are not coming back any time soon because of the recession. However, the number one thing during these tough times is to communicate with folks and acknowledge their hard work. Let's face it -- people are working harder for either the same compensation (i.e. no raise) or for less (i.e. mandatory shutdown days without pay). But if upper management talked about these issues with employees candidly, then employees may not feel compelled to try and find a new job or start a new career.
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