Job loyalty isn't what it used to be

Professionals today will hold as many as eight jobs between the ages of 18 and 32, according to the U.S. Bureau of Labor Statistics.

Naturally, keeping good employees is a continuing challenge.

Dr. Daniel Jennings, director of the Thomas A. Read Center for Distribution Research and Education, said meeting this challenge requires understanding what is important to employees.

"Values change," he said. "Someone may value being at home with young children. But later, he or she may value savings for that child's college education."

Jennings said retaining talented people and understanding their values allows an organization to develop a competitive advantage. It retains the skills of talented employees and avoids recruiting and hiring costs.

"The organization must reach an agreement between the employee's expectations and its expectations to achieve this advantage," he said.

Expectations vary from employee to employee, but Jennings said to remember the basics.

Praise
"Employees need a pat on the back," Jennings said. "Simple actions like asking how an employee's day is going are important for employee retention."

Involve
"Make employees feel like they are part of the organization," he said. "Through meetings and daily contact, keep employees aware of what is going on within the organization."

Provide opportunities
"For example, a company has a sales position open, and a talented administrative assistant interested in the position approaches the manager," Jennings said. "Will that employee receive sales training? This is an excellent opportunity to retain talent in the organization."

Jennings said these basic practices also help managers to understand their employees' values and create a plan for retaining them.

"Employees are an organization's most valuable resource," Jennings said. "Good employees contribute to the success of your organization - you want to keep them and to do so you must understand what is important to them."

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