The workforce of today has changed. Most people do not expect to stay in jobs for longer than 2-5 years. There is strong competition for talent and in many areas, skills shortages. Young people entering work are the most educated in history. They are highly mobile. The average school leaver will have twenty-nine jobs and five career changes in their work-life. Employers have succeeded in their demands for a "flexible workers" but flexibility works both ways, employees want work to suit their lifestyle. Pay and benefits are not sufficient to keep good people.
There are alarming statistics on employee engagement. Gallup (see http://gmj.gallup.com/) reports on world-wide research showing that less than 20% of employees are actively engaged – highly productive, adding to profitability and customer satisfaction and likely to stay - but close to 20% of employees are disengaged, cancelling out these positive effects. It is likely that the remaining 60% are not committed to the organization and will leave if something more attractive is available. A third of employees are actively looking for employment elsewhere and the growing popularity of websites catering to job-seekers makes it easy.
Therefore, attracting and retaining talent is a key issue for most organizations. Your mentoring program can be designed to:
1. Attract and retain talented employees;
2. Develop people – those who mentor as well as those mentored; and
3. Increase the return on your investment in learning and development and reduce turnover costs.
This is an extract from Rolfe, A. (2006) How To Design and Run Your Own Mentoring Program, Mentoring Works. Available now. Order on www.mentoring-works.com.
About Ann Rolfe
- Ann Rolfe
- Ann Rolfe is internationally recognised as Australia's leading specialist in mentoring, and is available for speaking, training and consulting. Here Ann shares her knowledge and allows you to ask your most pressing questions about mentoring.
1 comment:
It's a strange phenomenon, but companies seem to spend more time, effort and money on attracting quality people than they do on retaining them. It seems that they've failed to realize that their options for leaving are the greatest now that they have been in modern times.
Ann's timely reminder that contracts have been shortened significantly is a call to action. Organizations must give people are reason to stay. Failing to do so means that instead, they are giving people reasons to leave. There's no middle ground.
And when does the retention of people begin? Before the interview, from the time they make the first call to the HR office to the time they work their first day, companies have to remind themselves that candidates won't hesitate to leave if they don't feel welcome.
Bruce Hoag, PhD, CPsychol
Work Psychologist
http://www.p-advantage.com
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