How far apart are employees and employers in their perspective on the important factors that increase workforce satisfaction and improve retention? Is this gap widening? Where is HR and how is HR working to address the situation??????
Spherion's 2005 Emerging Workforce Study, conducted by Harris International identifies some potentially critical gaps in critical workplace issues including retention factors. Some statistics from the survey include:
- Only 1 in 5 employers is positioned to attract and retain top talent
- 60% of workers rate time and flexibility as a very important factor in retention, but only 35% of employers feel the same
- On average, employers only expect 14% of their workforce to leave in the next year, but Spherion data shows that nearly 40% of U.S. workers intend to find a new job in the next 12 months
Perhaps one of the most startling statistics to me is that despite the growing awareness of the potential loss of talent due to the pending retirement of baby boomers in combination with the increasing reports of workers feeling burned out and frustrated:
"Only 34% of HR managers mention turnover/retention as a key HR concern"
If the strategic measures needed to address turnover and retention aren't a key HR concern, what is? And who owns the responsibility to recommend and develop the policies that will ensure companies are able to retract and retain the talent needed to survive?
The study additionally found that:
"Only 19% of employers are classified as emergent and have the progressive mindset, policies and structure in place to attract and retain top talent and maintain workforce flexibility to easily adjust employee levels as demand warrants"
According to Roy Krause, Spherion President and CEO, ". . .the reluctance or inability of the majority of U.S. companies to adopt emergent qualities is certainly mystifying, and I hope these findings serve as a wakeup call. Emergent companies will continue to make strides with employees and candidates, while the rest will fall further behind in the battle for talent.”
We would love to hear from HR professionals regarding this topic. Please send your comments and weigh in on the study and HR's role in influencing a company's retention practices. Is HR doing enough to strategically support the needs of the business when it comes to attracting and retaining talent?
To read additional details from the
Spherion 2005 Emerging Workforce® Study click here:
Emerging WorkforcePosted by Denise Knutson, Senior Consultant, The H.S. Group