The Employee Attrition Dilemma
Concerns for employee retention after a recession are now among the hottest issues circulating in the human resources circle. Companies are trying to pick up from where business growth was temporarily shelved and where they had to take drastic and painful steps for survival. A large part of these steps included downsizing their workforce and cutting back the salaries of the survivors by as much as 20%.
However, it seems that while employer-companies are still on the road to recovery, both local and global job markets are said to be seeing remarkable activities of passive candidates actively searching for new work. Employees are discovering a spate of job openings and offers, to which they are discreetly responding. Inasmuch as the salary cutbacks created dents in their lifestyles, they are now considering new employers who could bring back their salaries as well as provide instant job stability.
It appears that employers have to make a choice between upgrading salaries versus launching new recruitment and training programs. Ironically, companies may have to follow suit with the recent hiring trend---that of recruiting passive candidates. It is the same recruitment strategy that is luring away their performing personnel, at any time in the near future. In some cases, the recruiter could even be the employer’s closest rival or competitor.
Others opine, however, that it’s an easy choice to make if the employees are only looking for restoration of their salaries. But if employees have other reasons like stability of employment or work-life balance issues, then the company is bound to face a new employment dilemma called “employee attrition".
Actually, employee attrition is employee-turnover by another name, but mostly originating from the work force wherein finding a replacement poses a problem to the employer. It appears that the tables have turned since the employers are the ones at a disadvantage for lack of resources and financial preparedness.
Image Credit: Bramley, Maurice (Department of National Service) for Wikimedia Commons