Layoffs are increasingly making headlines and the personnel impact of those cuts can go far beyond the employees whose jobs are eliminated, according to new research.
According to the American Express Incentives Services survey, more than half (55 per cent) of employees surveyed would likely seek other job opportunities if their company laid off a significant number of workers.
However, the research also shows that verbal reassurances from the employer and incentives that demonstrate the company’s commitment to the employee can turn that number around.
The survey, which polled 558 adult Americans, found that 60 per cent of employees would be unlikely to look for another job if they were reassured of a “bright future” with their current employer.
Star employees need more than just verbal reassurances though, they want employers to demonstrate a real commitment to keeping them, the survey showed.
During this time especially, loyalty is important to employers looking to keep talent. With unemployment rates relatively low across Canada, employees at all levels of organizations can switch jobs if they don’t like how they are being treated.
Turnover has high costs. And it’s not just replacement costs that employers have to be concerned about. Employers must also be concerned with finding the talent they need to fill openings. Customer service also suffers when new people who are unfamiliar with the business are brought in as knowledge keeps leaving the company. And, even if people do stay, low loyalty can be even more corrosive to the business goals.
How organizations handle change can have a big impact on trust and loyalty. Most major corporate changes are top down directives inflicted on management and staff. This weakens fragile bonds, people become insulted and get angry when they’re forced to swallow this change. Top-down directives can also create fear that people will lose their positions, control or even job.
But this can be avoided. Loyalty goes up when people feel valued and included.
According to the American Express Incentives Services survey, more than half (55 per cent) of employees surveyed would likely seek other job opportunities if their company laid off a significant number of workers.
However, the research also shows that verbal reassurances from the employer and incentives that demonstrate the company’s commitment to the employee can turn that number around.
The survey, which polled 558 adult Americans, found that 60 per cent of employees would be unlikely to look for another job if they were reassured of a “bright future” with their current employer.
Star employees need more than just verbal reassurances though, they want employers to demonstrate a real commitment to keeping them, the survey showed.
During this time especially, loyalty is important to employers looking to keep talent. With unemployment rates relatively low across Canada, employees at all levels of organizations can switch jobs if they don’t like how they are being treated.
Turnover has high costs. And it’s not just replacement costs that employers have to be concerned about. Employers must also be concerned with finding the talent they need to fill openings. Customer service also suffers when new people who are unfamiliar with the business are brought in as knowledge keeps leaving the company. And, even if people do stay, low loyalty can be even more corrosive to the business goals.
How organizations handle change can have a big impact on trust and loyalty. Most major corporate changes are top down directives inflicted on management and staff. This weakens fragile bonds, people become insulted and get angry when they’re forced to swallow this change. Top-down directives can also create fear that people will lose their positions, control or even job.
But this can be avoided. Loyalty goes up when people feel valued and included.
