Employee Turnover to Increase in 2008
A significant increase in employee turnover is forecast for the first quarter of 2008, according to workforce futurists, all the indicators they routinely observe suggest the possibility of a surge in job-hopping.
It has been universally observed as employment has shifted from a seller’s market to a buyer’s market, too many employers have taken their employees for granted, becoming complacent. People who were so highly sought after and valued in the early two thousands have become disengaged from employers who don’t seem to care about them anymore. It is now widely known that if workers are not appreciated by their superiors and co-workers, the emotional bonds holding them to the employer weaken. They become much more receptive to other employment opportunities where they will be valued.
In a study that has drawn a lot of attention, Towers Perrin HR Services reports that just 14 percent of workers say they are “fully engaged” on the job and “willing to go the extra mile for their companies.” A huge percentage of respondents revealed that they are really not engaged and would just as soon work somewhere else. Those workers are psychologically ready to jump ship if, or rather when, the right opportunity becomes available.
How serious is the problem? The Society for Human Resource Management reported a whopping 76 percent of employees are looking for new employment opportunities. About half of these people are actively seeking a new position-posting their resume on Internet job boards, surfing the web, talking with recruiters, networking with friends and colleagues. The rest are described as “passive jobseekers.” They’re not aggressively searching for a job, but are quite receptive to invitations to consider opportunities.
Further there is also a noticeable increase in inquiries from employers concerned about employee retention. Even though the concern is evident, employers are still waiting, putting off implementation of retention strategies until they think the time is right. Many of these companies will be caught trying to close the barn door after the horses are gone. As the employment market tightens even further this year, those employers who take pre-emptive action now will have the competitive advantage.
For more insights and tips on trouble-shooting employee retention, visit Dr. Donna’s Blog at www.BravaMedical.com
S.Chesterfield, Brava Staff Reporter
Reference www.towersperrin.com
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