Without trust in leaders, workers will flee when the opportunity strikes
American companies are looking forward to the day when the recession is over and the financial books don’t read like horror novels. But they shouldn’t get too comfortable. They’re about to be hit by another blow to the bottom line, according to a recent survey.
Deloitte’s annual “Ethics & Workplace Survey” reveals that one-third of American workers say they will look for a new job when the economy recovers. That means companies will have to invest in the search, hiring, processing and training of new employees, which adds up to real money. That doesn’t even count the cost of losing institutional knowledge.
Nearly half of these employees—48 percent—say their motivation for leaving is a lack of trust in their employers. Forty-six percent say a lack of transparent communication from their leaders is the primary cause of their unhappiness at work.
How much more evidence do we need to demonstrate that an organization’s relationship with its employees affects the bottom line—and that how leaders communicate is a major factor in the health of that relationship?