With a recovering economy, employee satisfaction should be a primary concern for business leaders. Companies are regrouping, rebuilding, and beginning to see bottom line improvement.
Tatum, a national reaching executive services company, reports that the new business focus is on moving forward, and part of the forward momentum should include enhancing the employer/employee relationship.
While businesses struggled through the recession, it was the non-executive employees who had to deal with job uncertainty, reduced benefits, and lots of stress. Those employees should now benefit from recovering revenues through employee incentives and rewards programs. Business leaders, according to Tatum’s upper-management, need to now invest in their employees.
Dick Hissam, national managing partner of executive services for Tatum, advises, “CEOs and CFOs should take a long hard look at both retaining and recruiting the right team to deliver on 2011 plans.” To keep up with a changing business structure Hissam adds, “The world has changed dramatically and now is the time to develop a human capital strategy that helps the organization stay nimble and competitive.”
This business strategy will be a key tool in generating employee loyalty and retaining talent. From statistics available in November 2010, the U.S. Department of Labor reports that the employment rate is slowly decreasing with 3.25 million jobs available. With an improved job market, employees will have the opportunity to weigh their options and move to greener pastures if businesses don’t motivate them to stay on board.