In 1999, employee turnover shot to its highest level in nearly two decades.2 % of the workforce left their jobs each month last year. This did not include departures due to layoffs, downsizing, or departures of temporary staff. Job turnover is soaring for several reasons. The strength of the economy is definitely one of these reasons. If companies need to find workers, they can raise salaries, which increases the likelihood that someone will leave a job for one that pays more. Another reason is the loosening of bonds between employer and employee. There are lower levels of loyalty in today's work environment. I believe money and perks can be used to attract people to a company but to retain skilled workers, it takes more then just tangible elements. In order to retain good employees, today's workplace must make the proper adjustments to meet their demands. Good employees will not continue to work for a jerk if they know they can find a good job elsewhere. .
Empowering employees, career advancement opportunities, the right job fit, and a positive workplace environment can foster loyalty and commitment. But, most importantly, is high-quality leadership. First of all, employee ownership equals empowerment. Empowerment is getting employees to do what needs to be done rather then being told what to do. A controlling manager is not at the core of empowerment. Efforts toward continuous improvement take hold only when employees feel a sense of pride and ownership in their jobs. Pride and ownership are the heart of empowerment efforts. Empowered individuals take initiative to find better ways to accomplish their everyday tasks. Empowering employees allows them to be part of the decision making process. This leads to a better company image, employee satisfaction, and decreases employee turnover. .
At Home Depot, headquartered in Atlanta, employees who are responsible for maintaining product aisles in the company's stores, proudly and prominently display their names for customers to see.