Click here to load reader
Upload
sales-drive
View
213
Download
0
Embed Size (px)
Citation preview
7/31/2019 C-Suite Beware This Could Be the Year of the Employee Backlash
http://slidepdf.com/reader/full/c-suite-beware-this-could-be-the-year-of-the-employee-backlash 1/2
3/04/2012 C-Suite Beware: This Could Be The Year Of The Employee Backlash - Forbes
1/2orbes.com/sites/work-in-progress/2012/01/06/…/print/
Image via Wikipedia
December’s employment numbers
blew analysts expectations out of
the water. Perhaps the news rustled
the moat around the corporate
kingdom’s C-Suite. (Ok, maybe just
a ripple) We’re certainly not out of
the waters of a struggling economy.
But with unemployment falling for
the fourth month in a row, talent
retention concerns might make
more of an appearance.
Most employees are glad to have a
ob these days. There’s this
unwritten mandate that has reigned
since the recession; corporate is
king, companies are doing more with less and underlings just have to deal
with it and eat porridge. But if the C-Suite ignores improving economic data,
might they be dethroned in a workers rebellion?
“I think 2012 is the year of the payback, meaning that all the slashing and
burning of the workforce has severely wounded the ability to motivate
employees,” says Irwin Kellner, Chief Economist for Marketwatch.com.
While corporate profits are doing well, Kellner says the numbers can’t grow at
the same rate if companies let go or use fewer workers. He warns there will be
consequences, such as lower productivity, less engagement and talent fleeing
to competition, if management doesn’t launch incentives to retain skilled
workers and take the 24/7 stress down a notch.
“Workers are afraid but it doesn’t mean they are going to work their tails off to
come up with the next I-phone,” adds Kellner.
The Numbers
If current economic data is a harbinger of things to come, perhaps corporate
America might be a bit more concerned about retention, instead of burning
workers to a crisp. Let’s break down the numbers:
FORBESWOMAN | 1/06/2012 @ 10:58AM | 6,827 views
C-Suite Beware: This Could BeThe Year Of The Employee
BacklashJudy Martin, Co ntributor
Work in ProgressCAREER TALK FOR WOMEN
7/31/2019 C-Suite Beware This Could Be the Year of the Employee Backlash
http://slidepdf.com/reader/full/c-suite-beware-this-could-be-the-year-of-the-employee-backlash 2/2
3/04/2012 C-Suite Beware: This Could Be The Year Of The Employee Backlash - Forbes
2/2orbes.com/sites/work-in-progress/2012/01/06/…/print/
Unemployment fell for a fourth time in a row to 8.5%, it’s lowest point in nearly
three years.
There’s been an uptick in the number of Americans quitting their jobs since the
recession began in December of 2007, according to the Labor Department.
The BNA Annual Economic Forecast, (BNA tracks and analyzes legal, regulatory
and business information) shows the U.S. economy improving, albeit with limited
job creation, expected to increase in the second half. Also, modest gains in private
sector workers’ hourly compensation.
The rate of layoffs is lower than anytime before the recession.
The Uncertain Economy
While conditions remain tenuous due to the European debt crisis, the
mortgage meltdown, wages not keeping up with inflation and the unknowns
of numerous political footballs, including the payroll tax cut debate – it is an
election year. A factor that Kellner says is cyclically positive in nature. Election
years are generally good for the economy. Both camps tend to play better
together in Washington.
While there’s a cautious air of optimism, more than 13 million people are still
unemployed and more than half of them have been out of work for more than
six months. Kellner says uncertainty across the board can sway the economy either way in 2012 as he writes in his Marketwatch.com column, New year’s
surprise for the economy? But the slight uptick in the “quit” rate is very much
on Kellner’s radar as he says it’s an indication that employees are gaining
more confidence that they can find a job elsewhere.
“The rising quit rate may be the first sign that the balance of power is changing
in corporate America between the executives and the underlings,” says
Kellner who adds, “The grandiose plans that the corner office has in terms of
creativity might have reached a limit.”
Incentives to the Rescue?
Fringe benefits like work-life initiatives, retraining, education or wellness
programs (like stress-reduction), are already on the radar of more progressive
companies. But perhaps such incentives should be shouted from the
corporate kingdom’s bell tower in a call for better employee engagement and
wellness in a stressed-out working culture.
“In the final analysis, it doesn’t matter how much technology you have, if
workers are exhausted and hanging on to their jobs by their fingernails,” says
Kellner.
Is all this economic news indeed a harbinger of things to come? Kellner says
it’s the job of the prognosticators to figure that out. But where there’s smokethere just might be fire. The C-suite might do well to wake up and smell the
coffee. If they don’t, it might be the smell of their employees burning out
instead.
re the numbers a fluke or a harbinger of things to come? Will the C-Suite’s
interest be piqued?
Please check out my personal blog at WorkLifeNation.com and friend me up
on Twitter: @JudyMartin8
This article is available online at:http://www.forbes.com/sites/work-in-progress/2012/01/06/c-suite-might-wake-up-to-smell-their-employees-burning-in-wake-of-new-jobs-data/