Are CEOs spinning their wheels in providing the employee-focused workplace?
SHERMAN OAKS, Calif., Sept. 12, 2007 — Here's a secret that successful CEOs know: Their employees – not their company's products or services – are their most valuable assets. That's why these business leaders feel like they're spinning their wheels when they put their workers' needs first, creating an employee-focused company, only to struggle with long-term retention. The issue here is that employees simply aren't as loyal to their companies as in the past, according to the 2007 Management Action Programs (MAP) Quarterly CEO Survey conducted by Vantage Research. And clearly, this presents a quandary for CEOs who invest time, money and emotional energy into building and managing the employee-focused workplace.
"Most CEOs believe their companies are currently geared much more toward employees than they were 10 years ago, particularly in providing enhanced benefits such as supportive working environments, flexible hours and telecommuting," says Allan Hauptfeld, principal of Vantage Research & Consulting (info@vantage-research.com) of Valencia, Calif. "Interestingly, however, their efforts may be falling short because one-third of these business leaders also believe their employees to be less company-loyal than 10 years ago."
Lee Froschheiser, president/CEO of MAP, a veteran business-consulting firm that has accelerated sustained growth for over 13,000 companies and 160,000 executives since 1960, says the survey's findings are telling of just how widespread this lack of loyalty is.
"There's no quick fix in resolving this increasingly common concern associated with employee retention," Froschheiser says. "There are some proven strategies for tackling this issue, such as having an effective on-boarding process, offering opportunities for employee development as part of an overall business plan, and providing consistent performance feedback and coaching throughout the year to support the annual-review process."
In addition, the survey uncovered a notable change in how CEOs feel about the economy as of late. The number of CEOs who worry that the United States economy is declining has doubled since MAP's last survey. In addition:
— Many CEOs who had planned earlier this year to on-board more employees have put hiring on hold;
— Business leaders say the top strengths in their workers overall include traditional characteristics and values such as work ethic and teamwork;
— However, when it comes to Gen-Y workers, CEOs feel these employees' strengths lie in personality-based characteristics such as attitude, ambition and friendliness.
Customizing the workplace culture to cater to the varying strengths motivates employees and plays a significant role in fostering an employee-focused environment.
About MAP
MAP offers business leadership training and consulting services to organizations nationwide through its Western U.S. offices. MAP has an active alumni network, providing its supporters online seminars and value-added communications. Email, 888-834-3040; http://www.mapconsulting.com
Contact: John Manning, Tel: 949.752.1606 x339, Email