(Newswire.net — October 23, 2013) Santa Rosa, California — After years of economic turmoil and the worst recession this generation has ever seen, regional and state unemployment rates are finally in recovery mode.
This past August, the Bureau of Labor Statistics reported the national unemployment rate at 7.3 percent, almost a full percentage point lower than the same time period in 2012. Between July and August of this year, 17 states experienced unemployment decreases. Thirty-six states as well as the District of Columbia had unemployment rate decreases from a year earlier and all are reporting significantly lowered numbers from four years ago, when in 2009, the national unemployment rate was at 9.7 percent.
While just about everyone in this country will celebrate an improved economy, for employers the lowered unemployment rate may mean a high employee turnover. Some employees, noticing the healthier economy, may feel secure enough to jockey for a better position.
Now that unemployment rates have dropped significantly, employers are beginning to lose some of their best workers due to this phenomenon, said author Annabel Ayres, author of How to Hire and Keep Top Notch Employees. Various studies have shown that employee satisfaction is often based on factors other than wages. In her new book, Ayres outlines the steps to increase employee loyalty and retention.
First, an employer must learn how to hire the right person, Ayres said. They must also have the right tools and skills in place to both train and manage the new employee. According to the author, this is achieved by making expectations clear, and then following up to make sure the results were achieved. Just as important, she added, is creating a workplace atmosphere of goodwill, leading to high employee retention.
How to Hire and Keep Top Notch Employees includes a list of tools to make expectations clear, such as checklists, managers’ reports, and job descriptions, with examples of each.
“I have found that for most people, managing employees is not a natural skill—but it is a skill that can be learned,” she said. “It’s been really fun to see so many of my clients over the years become skilled managers, resulting in less stress and bigger profits due to low turnover. Recently I helped a client who had a 50% turnover rate. He followed all of the steps in my book, and his turnover rate was reduced to zero last year. As a result, his sales doubled and his profits increased by $11,000 per month due to his top-notch employees.”