There is little doubt that recessions breed a “hunker down” mentality among employees. Layoffs, pay freezes and cuts, hour cuts and furloughs, and a dismal job market all contribute to low employee morale and engagement. Once productive environments can quickly become toxic, further deteriorating productivity.
Various studies indicate that 45-50% of all top performers are actively looking for new jobs.
To add insult to injury, as economic recovery takes hold and the job market improves (albeit very slowly), your top performers are lining up at the doors for their next opportunities. Indeed, various studies indicate that 45-50% of all top performers are actively looking for new jobs, a percentage that is signifi cantly higher than for low or middle performers.
To a typical company, the potential economic impact caused by a mass exodus of high performers is incalculable. How can CEOs expect to weather the economic storms, let alone grow your businesses, when your A-list employees are disengaged and fl ying toward the exits?
Fortunately, there are steps you can take today to forestall the exodus of your top talent as economic recovery proceeds and the job market improves. This CEO guide provides three key tips for leveraging proven talent management principles, practices, and technologies to retain your top performers.
