Guess what? According to Industry Week, in a survey by Mercer http://www.mercer.com/, it was found that, “diminished loyalty and widespread apathy can undermine business performance, particularly as companies increasingly look to their workforces to drive productivity gains and spur innovation.” Mercer’s Mindy Fox says, “The business consequences of this erosion in employee sentiment is significant, and clearly the issue goes far beyond retention.”
Why? In Mercer's survey of the last two quarters, the company found that 32% of workers are seriously considering leaving their companies, and 21% of those staying view their employers unfavorably and show a very low score on loyalty, commitment, and motivation.
Well duh! We just survived the worst recession since the 30s and those who remain employed are still reeling from the impact on their jobs, with many living in dread of the pink slip that will add them to the 9% looking for work today. Meanwhile their workload has increased again, and again, under the threat of a pink slip if they should balk; consequently, their work may be shoddy and unfinished. And the media are touting a double-dip recession. It takes a special kind of employee to come into many companies smiling on a Monday morning.
Other Mercer findings:
- Only 43% of employees believe they are doing enough to financially prepare for retirement and just 41% believe their employers are doing enough to help them prepare.
- Just 68% of employees rate their overall benefits program as good or very good.
- Just 42% of employees agree that promotions go to the most qualified employees in their organization.
- Among the youngest workers, 40% of employees age 25–34 are most likely looking to depart.
You may recall the story of Damocles and Dionysius where the latter offers the former a trial as ruler to enjoy all the perceived fruits of this position. And so doing, Damocles looks up and sees a sharp sword suspended over his head. Supposedly, when queried about the threat, Dionysus makes it clear that, as a ruler, there can be nothing happy for the person over whom some fear always looms