The ‘Talent 2020’ survey polled 560 employees worldwide and found that four of five employees will reverse the trend of 2011- when nearly 65% were planning to leave.
According to Recruiter.co.uk:
Out of the survey respondents, 46% indicate they are less inclined to move because, in the last 12 months, they have changed jobs (9%), were promoted (22%) or have taken new positions (15%) with their current employers. In contrast, however, nearly one-third (31%) say they are not satisfied with their jobs.
Dimple Agarwal, lead partner for organisation design and talent at Deloitte UK, said: “Companies must adjust their talent management initiatives to focus on retaining employees with the critical skills required to advance their business in today’s turbulent marketplace, as they pose the biggest flight risk.”
According to the survey, the top five reasons people seek new employment are primarily non-financial:
- Lack of career progress (27%)
- New opportunities in the market (22%)
- Dissatisfaction with manager or supervisor (22%)
- Lack of challenge in the job (21%)
- Lack of compensation increases (21%)
However, the top five retention incentives for employees are primarily financial:
- Additional bonuses or financial incentives (44%)
- Promotion/job advancement (42%)
- Additional compensation (41%)
- Flexible work arrangements (26%)
- Support and recognition from supervisors or managers (25%)
These findings provide an interesting challenge to the recruitment industry, with candidates adopting a "stay-put" mindset possibly due to fears over job security, but also perhaps due to (as Mr. Agarwal suggested) better retention initiatives from companies. However, the percentages above give plenty of ammunition for recruiters when trying to prise and persuade candidates to look for pastures new - and if your client can offer a pleasant working environment, opportunities for career movement (as well as financial reward) then the recruitment industry will continue to boom, despite Deloitte's findings over worker's attitudes to employment in 2013.
Read the full report from Deloitte here.
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