Credit Squeeze Won't Stop Leavers

Last Updated Sep 11, 2008 2:25 PM EDT

Credit crunch or no credit crunch, bad managers will still lose talented employees, says Bryan Alaspa at Management Issues.

He's picking up a survey that claims 30 per cent of 250 mid-market CIOs and IT managers left their jobs because they were dissatisfied with senior management.

As a recruitment consultant observes, since many CIOs answer to the CEO, "if they believe management is not good for them, it may be because it's not good for the company as a whole."

The reasons for CIO and IT managers' dissatisfaction mirror those of the wider workforce, too -- downsizing's effect on team capabilities and morale, or a general disapproval of management's decisions.

There are some comparatively straightforward ways of keeping up morale, too. In another post, Alaspa picks up on an interview with Patrick Lencioni, author of "Three Signs of a Miserable Job" (which I wrote about recently).

According to Lencioni, employees become unhappy

  1. If they feel their manager doesn't care about them.
  2. When they cannot relate what they do to the business as a whole.
  3. When they are unable to assess for themselves their contribution or success.
Many managers don't even try to take an interest in the people they are supposed to be leading. Those that do are more likely to engender loyalty, staving off the three signs of misery above. Supermarket giant Tesco has a simple way of making employees' contributions to the overall strategy explicit, using an adapted Balanced Scorecard as a starting point. But, as Stuart Cross explains here, it takes commitment and persistence.
While the crunch may not directly affect job-leavers, it is certainly affecting our health. It transpires we are feeling more stressed and less healthy than we did three years ago, according to a survey by the Blood Pressure Association, "Britain Under Pressure".

The credit crunch is raising stress levels among 37 per cent, with 19 per cent losing sleep and 15 per cent working longer hours.

Bad food habits are also becoming commonplace -- 56 per cent of those surveyed are opting for lower quality food to cut back on spending and over 70 per cent now regularly eat ready-meals or takeaways -- with women the worst culprits.

A smaller percentage are drinking more or smoking to deal with the pressures of the downturn.

"It's clear that Britons are under pressure and this could have serious health consequences. The dual effect on lifestyles of the credit crunch and lack of concern over long term health is putting the nation at risk of a blood pressure ticking time bomb," warned the BPA's chairman, Professor Graham MacGregor.

(Photo: Jef Poskanzer, CC2.0)