The current state of the economy – bleak and depressed as it might be – may offer a silver lining for the collision repair
industry. That silver lining comes in the form of the assurance that your employees won't be bidding farewell anytime soon.
Yes, there are always employees you'd give anything to forfeit, but for the ones you do want to keep, the economic downturn
can offer you some much-needed time to step back from your worries about losing key performers and instead spend that time
forming a retention plan.
"During a down economy, most workers are focused on keeping their jobs," says Linda Schwartz, consultant to the health care
and other industries, Employee Retention Strategies, in Phoenix. But for employers looking to cut their losses with unsatisfactory
employees, Schwartz says that typically in such a slow economy when layoffs are a potential, it's often an employer's market,
except in fields where there are worker shortages, such as in health care.
In fields such as nursing, pharmacy and radiology, there's a "crisis" situation in terms of shortages. Such shortages are
expected to worsen in coming years as the nation ages.
Maybe you're in a position where not only are you not worried about any staff shortage, but your current set of employees
brings you much peace of mind. Do you ever wonder whether you're doing enough to keep them another five, maybe 10 years?Schwarz, speaking as one who has studied health care employment retention strategies extensively, says these health care lessons
can apply to all industries, including collision repair.
Consider this fact: Average employee turnover across all industries, according to the Bureau of National Affairs, is 14.4
percent annually. That rate is on the rise, according to the bureau. What isn't measured, says Schwarz, is the "blow to morale
and increased job stress" when remaining employees are expected to pick up the slack for the departed employee's workload
in the interim.
Schwartz provides a top-10 list of criteria that she terms the "glue" that businesses must address to retain talented people.
Businesses must offer:
- career growth, learning and development;
- exciting, challenging work;
- clear expectations;
- quality work accomplishable by current employees;
- a team of committed employees who strive to do good work;
- an "individual's opinions matter" environment;
- a boss who cares about each individual;
- recognition for work well done;
- autonomy to some degree for each employee to be able to do his own work; and
- sufficient resources to do the job well.
Schwarz also points to the book, "The Seven Hidden Reasons Employees Leave," which spells out four basic needs of all employees:
a need for trust, hope, a sense of worth and a feeling that the worker is competent.
Add to this list fair compensation, Schwarz notes. "Pay matters on several levels – it provides fairness within the organization;
it should be fair with regard to the industry and competitors. It should be fair according to what the job requires."
If, despite economic forces, you've wound up at the other end of the spectrum, struggling to no avail to keep the employees
you do have, Schwarz suggests digging deeper as to why.
She advises evaluating your own retention data. Is there a gap indicated by the data between employee satisfaction and dissatisfaction?
Look at research-based studies. Seek employee input for improving work processes, customer satisfaction and profitability.
When addressing health care clientele, Schwarz says she can't emphasize enough the importance of trade organizations for providing
industry-specific information.
"They are your lifelines," she says. "In this changing economy, such associations are more critical than ever. What's equally
vital is that businesses look beyond their own industry to search out best practices from other organizations."
