A new SHRM survey titled 2005 U.S. Job Recovery and Retention delivers a staggering statistic. More than 75% of your employees could jump ship! Does that make your face turn red? Maybe you will look like them ” matching the red or orange alerts shown below!
Not only that, but 80% of respondents said that they would increase the intensity of their searches if the economy improves!
Many companies have started to respond to this issue with 49% having special retention programs versus 35% last year.
So what to do? The easy answer has been to increase compensation. Indeed, money is the #1 reason mentioned (41%) when individuals leave. But in addition to this obvious reason, we often overlook career development (25%), opportunities (34%), or readiness for new experience (23%) that can be easily offered by organizations.
At Taleo, we helped several organizations implement our solution only for internal mobility purposes. In these leading companies, internal mobility is a mandate from the CEO to offer more opportunities to employees and be proactive with the workforce.
So, if you are like most organizations in this survey, you can prevent those (76%) unstable workers from jumping ship. Improved internal mobility and more visibility is a simple way to alleviate a fair amount of pain and lots of cost.
