Top 10 List For Employee Retention in a Recession 5 Years ago
Folks may not be running for the exits at the moment as there aren't many places to run for cover. But, when the worst is over, employees may decide at last they can make a move. Deloitte offers a Top 10 List for Employee Retention During a Recovery....
1. Do take care of top performers and critical workforce segments.
2. Don't give leaders bonuses while expecting employees to go without.
3. Don't cut employee compensation to avoid layoffs without first looking at your company's tolerance for compensation cuts.
4. Do hold managers accountable for retention.
5. Don't kill downsizing survivors by overloading them with extra work.
6. Don't be afraid to communicate what is really occuring.
7. Don't ignore the loss of valuable institutiional knowledge caused by downsizing.
8. Don't make small cuts over and over again to avoid the press coverage and shock of large layoffs.
9. Don't buy into the belief that across-the-board layoffs are good for your company.
10. Do refresh talent strategies.
Re:Top 10 List For Employee Retention in a Recession 5 Years ago
If you're cutting or freezing salaries, think about a larger percentage cut for higher level employees. Avoid making a lot of little cuts all the time--that's a good one. Constant cost-cutting creates an environment of constant fear. You demoralize the workforce and lay the groundwork for a mass exodus as soon as employment picks up.