Do I Stay or Do I Go?

Workers may be ready to say good riddance to their workplace after a few tough years filled with bad news, pay cuts and benefit reductions. While they’ve dodged layoffs, some are now updating their résumés, asking for recommendations to post on LinkedIn and leveraging contacts to find that next great job.

As hiring activity increases in the region, you can’t ignore the fact that some employees who have made sacrifices to keep their job are willing to accept new opportunities in a happier workplace. But losing employees could hinder your plans to bounce back as the economy improves.

“If there is a secret to running a business, it’s having great people,” says Ted Todd, owner of Ted Todd Insurance, which has six locations in Florida. “Not having great people means you don’t have a great business.”

But research by CareerBuilder and USA Today earlier this year found that 33 percent of employers are concerned top performers will take flight. A survey for Glassdoor.com found that a whopping 74 percent of employees expect to leave their job for a new employer.

Retention is an impending issue, and delivering a positive experience that engages employees is critical to keeping them, especially top talent, says Razor Suleman, founder and CEO of I Love Rewards, a Toronto-based company that creates employee recognition and rewards programs used by companies ranging from Marriott to Microsoft.

“An employee’s experience at work will determine whether they stay or leave, and it is characterized by communication, contributing on a meaningful and challenging level, and feeling valued,” he says.

The damage might already be done, depending on how you treated your workers during the recession. Local employers shared what you should be doing to make employees feel appreciated and your stars want to stay.

1. Create a fun but challenging environment