Everyday Bliss For Women In Leadership

This just out from Watson Wyatt Worldwide Research Reports: stress plays a large part in why employees job-surf and high-pressure companies find loyalty difficult to guarantee. Execs, take notice. If you don’t already have one, you NEED a stress reduction program in your company NOW.

Read the below and contact me if your company of 20 - 1500 employees is willing to have:

a) Far fewer collateral sick days

b) Employees able to take pro-active care of self and others

c) A comfortable, respectful work environment

d) Sky-high morale at ALL levels of the company

e) No snags to trip up and derail the workforce (and those few that might happen easily resolved)

f) Serious longterm employee loyalty and support

If you’re willing to do some of the most pleasurable work you’ve ever done as a team, contact me for a complementary prescriptive analysis.

From: watsonwyatt.com/research/resrender.asp?id=2007-US-0164&page=1

Playing to Win in a Global Economy – 2007/2008 Global Strategic Rewards® Report and United States Findings

Executive Summary

The increasingly global market for talent makes it critical for companies to understand the factors that affect employee attraction and retention everywhere they do business. Organizations that do not balance financial imperatives and employee reward preferences risk losing their best talent.

The 2007/2008 Global Strategic Rewards® study examines how companies in Asia-Pacific, Canada, Europe, Latin America and the United States are tackling attraction and retention issues and reward management. The first half of the report highlights the similarities and differences between the regions, while the second half focuses on U.S.-specific data.

Global Key Findings

Regardless of region, the study found:

• The majority of employers have problems attracting critical-skill employees (70 percent) and top-performing employees (67 percent).
• Employers have an incomplete understanding of why employees join or leave their organizations. For example, employees rank stress as a top reason they would leave, but it is not even among the top five reasons cited by employers.
• When employees are satisfied with stress levels and work/life balance, they are more inclined to stay with their companies (86 percent versus 64 percent) and more likely to recommend them as places to work (88 percent versus 55 percent).
• Financially high-performing firms get performance management right. For example, their managers are much more likely to link organizational performance to rewards (51 percent versus 38 percent of low-performing organizations).
• Clearly setting expectations and delivering on the reward promise is a formula for a more engaged workforce. Sixty-nine percent of employees who say their employers succeed at both promise and delivery are highly engaged, versus roughly 25 percent overall.

U.S. Key Findings

• Employers report difficulty in attracting and retaining employees — particularly, top-performing and critical-skill employees — for the fourth year in a row. Almost two-thirds (64 percent) of employers are having difficulty attracting critical-skill employees, while 60 percent are having difficulty attracting top performers.
• Consistent with the global findings, U.S. employers and employees have different ideas about why employees join or leave (see below*). As a result, some of the actions that employers are taking to attract and retain employees may be counterproductive.
• As employers continue to manage their cost structures, they are putting more money into variable pay and raising the bar for performance. As in 2007, more than one in five (21 percent) increased the size of individual target awards for 2008.
• Merit-increase budgets for 2007 remained relatively stable, at an average 3.6 percent, and are expected to rise only slightly, to 3.7 percent, in 2008.
• Highly engaged employees are more than twice as likely to be top performers than are other employees.

Interesting stuff, no? It says basically what most savvy execs have known all along - value someone appropriately, keep them engaged in interesting duties that fulfill them and invest them with personal power insofar as possible. Do this and there isn’t anything they wouldn’t do to stay on the job and tout the company and its products to all they meet.

Why employees actually leave is found in another Watson Wyatt report (here and in charts below) of the European market where we learn that there is a large gap between the employee’s values and the employers perceptions of those values.

You can’t market where the market doesn’t exist. Employers wanting to pitch their employees on longevity of their position within the company, need to take a more prosaic set of employee needs into account: people hate long commutes, they don’t want to spend most of their waking hours during the week in a pressure cooker environment with little to no release, and they want to have some security when they finally do decide to take a job. That and a dollop of feeling like they’re in control of their life. From the study:

"…employers need to increase their focus on more immediate needs as well, such as the nature of the work they do now, and the internal and external pressures that affect employees’ working experience, like stress and length of commute.”

What attracts employees?
The three reasons most frequently given

Why they leave?
The three reasons most frequently given

Found here: www.watsonwyatt.com/news/press.asp?ID=18396

Is this you? Your company? Then you may be able to benefit from what I offer executives and their teams. Contact me for your company’s complementary prescriptive assessment.

This entry was posted on Friday, December 14th, 2007 at 3:07 pm and is filed under Coaching For Leaders, Business, Health, Research, Stress, Executives. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.