Those are good questions, and probably ones that more managers should be asking in similar situations.
Were the key employees interviewed when they left as to their reasons? Often, employees don't want to talk bad about the company, but they might drop clues as to what made them want to move on. Actually, the employees are probably the best suited to tell what is really going on at their level.
Change (even positive change) is stressful to some extent on an organization. It sounds like the company is restructuring, and if they have made acquisitions recently there might be management restructuring as well. As exciting as this is for management, it can be very tough for employees. Remember the reaction to "the Bobs" in the movie Office Space? Sometimes requiring new methods or operating procedures or simply just the uncertainty of the future is enough to make employees feel very insecure and insignificant.
Every situation is different, so there isn't really any one "answer" but I think managers everywhere need to do as much as they can to foster the "open door policy." The employees need to feel that they are actually the ones driving the company, and not some uber-manager that gets paid 4 times their salary. As soon as employees feel like pawns rather than the ground troops doing the heavy lifting, their loyalty is lost. Studies have shown that recognizing employee contributions does more for employee satisfaction than salary/benefits increases.
That being said, this sounds like something you're concerned about, and that's a sign of good management. Hopefully, the rest of the managers above/below you have the same concerns.
Last edited by iconcameras; 25th February 2006 at 01:23 PM.