Thursday, August 12, 2010

Why you should nurture your employees

I'm not saying the spectacular JetBlue flight attendant resignation was caused by this, but there are a few paragraphs in this USA Today article that should be an eye-opener to a lot of businesses:

It also casts a spotlight on a broader anger felt by many workers who are fed up with jobs in which pay raises, if they exist at all, are smaller or less frequent than they were a few years ago and with the threat of layoffs looming constantly, some workplace specialists say.

Slater did what many workers fantasize about and may do with increasing frequency — albeit with less showmanship — once the economy rebounds. "I don't think we should be surprised that once the economy starts ... picking up, there's a massive relocation of workers who want out as fast as they possibly can," says economist Joel Naroff, president and chief economist of Naroff Economic Advisors.

"That's the warning that I don't think businesses really recognize: You can pull this off now because there isn't really an option, but once there's an option, it's going to be payback time," Naroff says. "You're going to be losing some of your best people."
Obvious to most of us, but apparently news to the big corporations: You can't continue abusing your employees forever just to increase your share value. The moment the economy picks up you'll lose your best men. And women.

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