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Employees not scared of quitting
Workers might accept it when companies cut their pay, benefits and perks, but that doesn’t mean they like it — or their jobs.
By Mark Schwanhausser
Mercury News
Although today’s tight job market has shifted the leverage to employers, a national survey by Sibson Consulting indicates that “employees’ propensity to quit is virtually unchanged” since 2000. Half the workers said they’d jump to another company for just an extra $1,000 in stock or a better chance to earn a $5,000 bonus.
Money often isn’t the sole issue, but one problem is companies and workers don’t see eye to eye on the financial cutbacks, says Tom Morrison, a benefits expert with Segal in Los Angeles. Companies “think they’re maintaining status quo” because rising medical costs and possible accounting changes for stock options are outside their control.
But for workers, the “status quo isn’t good enough,” he said. “What employees expect is progress.”
Sibson estimates turnover nationwide could double in the next economic recovery — putting it back at boom-time levels of 15.6 percent in 2000. Because Silicon Valley’s job market lags the rest of the nation, however, that might come later here. But even here, the first to bolt, Sibson predicts, will be top-performing workers at struggling companies.
Such talk makes Roxie Vogt cringe. The human resources boss at Mattson Technology in Fremont recently warned executives that turnover could “really go up” in the first quarter of 2005. Workers “are so tired of the layoffs that have hit, they don’t feel safe, and I fear they will move on,” she said.
Kerry Azelton, 44, could be a case in point. The Pleasanton engineer, who is a designer of shipping containers for computer components, took a pay cut this year to help his employer weather the downturn, but the company ultimately was sold. Frustrated that the new owners “just thought I’d be grateful to have a job,” Azelton picked up the phone and soon had several job offers. He didn’t even entertain a counteroffer.
In his new job with Packaging Innovators in Livermore, Azelton negotiated to get back his original salary, plus a car allowance. In the end, though, it was less about money and more about feeling wanted.
“You’ve got to know your employees,” Azelton said. “If you don’t have a personal relationship with them, somebody else will.”
Contact Mark Schwanhausser at (408) 920-5543 or mschwanhausser@mercury news.com.
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