KEYGroup Newsletter EZINE Archives [back to EZINE archive main page] January 23, 2006 That's a very distinct possibility, based upon the results of a new survey by KEYGroup. When more than 1,700 workers were asked about their work/life balance issues, nearly one in five survey participants planned to look for a new job in 2006. The Internet-based survey-commissioned by KEYGroup and conducted in December 2005 by MMc Marketing Research and Consulting-included questions regarding disconnect between management and workers, frequency of performance feedback, and the amount of unnecessary stress on the job, among others. This alarming result presents a major challenge to companies already beginning to struggle with the growing labor shortage and turnover problems. According to KEYGroup founder and CEO, Dr. Joanne G. Sujansky, "I see this finding as an early warning of a huge turnover issue soon to face the U.S.," says Sujansky. "Fact is, many companies simply don't have a culture that emphasizes work/life balance. There's a prevailing attitude among employers that employees are there to work and their personal life, or lack thereof, is irrelevant. Let me bluntly say that if you think this way, it will harm your company. Guaranteed." Under Dr. Sujansky's direction, KEYGroup's consultants have been urging clients to take a hard look at whether or not their culture supports a healthy work/life balance. The solution, transforming a corporation's culture into a Vibrant Entrepreneurial Organization is the surest way to assure that talented employees won't head for the exits. The reasoning is simple . . . "A VEO culture is one in which all employees feel a sense of ownership for their company and their work," she explains. "And obviously, you can't be a loyal, innovative, productive employee--one with an entrepreneurial attitude--if you're working 60-hour weeks and can't leave the office to attend your child's school play. That makes you a slave, not an owner. And slaves are always resentful of their masters." The survey, which included 1,727 men and women ranging in age for 18 to 64, yielded a number of other interesting findings, with implications for many organizations. To learn more about the survey results and Vibrant Entrepreneurial organizations, contact KEYGroup at 724-942-7900 or via email . -----------------------------------------------------------------------------------------------------------------------Are American Businesses Up to the Challenge in 2006? As if to underscore the findings of KEYGroup's survey on growing employee frustrations, the US Chamber of Commerce just released its "The State of American Business 2006" report, with dire warnings for American organizations. Pointing to the rising worldwide challenge to American innovation, US Chamber President Thomas J. Donahue points out that with ". . . 77 million baby boomers preparing to retire . . . We have yet to secure an adequate supply of working taxpayers to run a growing economy and support an explosion of retirees." He goes on to say . . . "Complacency, rather than urgency, has defined much of our response. We've seen this before. Nearly 50 years ago, when the Russian Sputnik first orbited the earth, America was stunned by this threat to our global leadership, and we responded with purpose. America needs the same sense of urgency and purposeful response today--even more so because the competitive challenges facing us are greater. We must adjust to the changing competitive environment across the world as well as to an aging society here at home." Obviously organizations that struggle with retaining the best, brightest and most talented employees will also struggle to keep up with growing competition at home, as well as abroad. And only an organizational that pays attention to questions of culture and employee loyalty will be positioned to take advantage of the competitive opportunities that present themselves. To read the Chamber's "State of American Business 2006" report, visit their website at www.uschamber.com/publications/reports/sab.htm ---------------------------------------------------------------------------------------------------------------- A VEO exemplifies the new face of loyalty Two-way loyalty is a necessity for a strong, resilient, growth-oriented organization. It's simple: you give your employees what they need to meet their goals. In return, they advance your corporate vision and boost your profitability. If you've heard it once, you've heard it a million times: employee loyalty is dead. And if the loyalty in question is the "toe-the-company-line-for-thirty-years-and-retire-with-a-gold-watch" brand from yesteryear, it is indeed dead . . . as it should be. Most employees (the ones worth keeping, anyway) aren't just looking for a place to go, put in their time, and collect a paycheck. They want challenging, meaningful, enriching work. In return, they look for ways to build and improve their company's future. If they feel that they can easily be replaced, they will look elsewhere for opportunities. When you lose people, you risk losing intellectual capital that's difficult to replace. Questions for Analysis: Improved Customer Loyalty 1.) To what extent does your organization offer employees opportunities for personal growth? ___ Many Opportunities ___ Limited Opportunities ___ Few Opportunities 2.) How much does your organization suffer from problems related to employee turnover? ___ Few Problems ___ Many Problems ___ Constant Problems 3.) To what extent do your employees feel that they have the resources and support necessary to accomplish their goals? ___ Full Support ___ Limited Support ___ Little Support So what are the keys to increasing employee loyalty? There are several things a manager can do to create the "new face of loyalty" . . . Stretch Your Employees - Leaders in entrepreneurial cultures look beyond the lukewarm, overused goal of "employee satisfaction." They seek to challenge, inspire, and enhance their people. They create ways that people can use their unique skills and talents to advance the company's vision. Provide the Resources and Support Your People Need - Leaders help their employees to get the resources and support they need to accomplish their goals. They provide opportunities for employees to grow and develop and become more marketable. Look for Ways to Provide Work/Life Balance - People stay at companies that view them as complete human beings. Salary matters, of course, but a healthy work/life balance means as much to most employees. To some employes it means even more. Employees want to know that you value their personal life as well as what they bring to the company. ----------------------------------------------------------------------------------------------------------------------- "It's Great To Be 25" Dr. Joanne G. Sujansky celebrates the 25th anniversary of the founding of KEYGroup established in 1980. Since that year the US and world have seen a remarkable number of changes in politics, technology, culture and business. Those of you "young" enough to remember the year 1980 can recognize those vast changes by reflecting on the some of the major events of that era. In 1980:
Plenty has changed over the course of the last quarter-century, but one thing that hasn't changed is KEYGroup's commitment to creating productive workplace cultures filled with passionate, dedicated people. Dr. Joanne G. Sujansky, CSP, CEO and Dr. Jan Ferri-Reed, President, and their large team of trainers and consultants have helped companies at home and abroad increase market share, build brand value, embrace new ideas, and deliver superior customer service. Dr. Joanne G. Sujansky, CSP, has over 25 years experience helping leaders increase organizational growth and profitability by creating and sustaining what she calls a Vibrant Entrepreneurial Organization. She is an international keynote speaker, founder of KEYGroup, and the author of numerous books on leadership, change, and retention. A member of the National Speakers Association, she holds its highest earned designation, Certified Speaking Professional. Reach her at 724-942-7900 or at www.keygroupconsulting.com All contents copyright 2005 by KEYGroup® Contents may not be reproduced without permission.
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