An envelope caught my eye this past week as I was rifling through my junk mail. Printed on the envelope was “Employee Recruitment & Retention.” Since that is my field, I decided to open it up. Inside, I found a complimentary copy of a monthly newsletter from Lawrence Ragan Communications dedicated to employee recruitment & retention.
I’ve never heard of this company, but I discovered a couple of interesting short articles on employee retention in their Quotes & Statistics section. First, What do workers want? You may be surprised. In it were the results of a survey of more than 1,000 US workers by the Sarratoga Institute (my emphasis).
When asked what factors would make them likely to remain with their current employers, here are their top 3 reasons:
1. Training and mentoring
2. Earnings potential
3. Positive work relations
The second article was titled Keep Workers in the Loop or They’ll Say Goodbye. In a survey conducted of 2,600 employees by Mercer Human Resources Consulting, they found that only 15% of those who enjoyed strong workplace communications were thinking of seeking new jobs. Now compare that to the 41% of the people in a tight-lipped organization thinking of seeking new employment.
Communication is crucial to management success and employee retention. Do not overlook its significance.