Why “Lucky to Have a Job” Didn’t Work

The recession leaves in its dust 3 data points that underscore how high-performing employees can always find jobs:

• Per the U.S. Bureau of Labor Statistics (BLS), the number of workers who voluntarily quit their jobs in 2008 fell just 11% compared to the number who voluntarily quit in 2007; this means that your chance of losing a good worker in the depths of the recession were a full 89% as strong as they were when the economy was at full strength
• A University of Wisconsin study confirmed that voluntary quits went up after layoffs, citing that a layoff of just 1% of the workforce caused voluntary turnover to increase a full 31%
• MSNBC reported that job applicants nearly tripled in 2008, ensuring that selection criteria was high and only the best applicants were hired

This data confirms that if any employees felt lucky to have a job, it was probably those who performed less than stellar and held on while the job market shrunk. Think back to your turnover during 2008 and 2009…Did you lose good performers or average ones?