It’s Lack of Feedback Making Workers Wonder: Should I Stay or Should I Go?

More and more evidence is piling up that employees content in their jobs are still looking to leave – even in this economic environment. Just a couple of weeks ago I wrote about Accenture research showing that engaged employees are still a flight risk.

In June, Lumesse released a Global Workplace Survey 2011 showing much the same thing – employees like their work and company, but are still seeking to leave.

Just a few key findings of the research:

29 percent of employees expect to leave their job in the next 5 years yet they like where they work;
30 percent of 26-40 year old workers are looking to move more quickly, with a third of these looking to leave in less than a year;
81 percent do not feel their skills are being fully utilized; and,
49 percent consider their performance appraisal of little or no value.

Do your employees know how you value them?

What does this tell me? Employees may like their company, work and co-workers, but they have little sense of the value of what they do within the “big picture” and they know they have more to offer. So these solid, reliable workers are hoping to move to a new organization that will:

Put their skills to better use;
Give employees the feedback they need.

This challenge could be easily overcome by incorporating strategic recognition into performance management strategies (see my recent eBook on the topic). This approach of social performance management clearly and frequently communicates to employees:

What it is the company needs them to do (strategic objectives/the “big picture”);
The way in which the company wants the employee to do it (the company values); and,
The feedback employees need in the form of frequent recognition from peers and colleagues alike for a true 360°, 365-day-a-year performance review.

Where do you stand? Do you like your job, yet would be willing to leave in the next few years?

You can find more from Derek Irvine on his Recognize This! blog.