More Than Half of Employees Intend to Leave Current Job as Economy Improves
Nov. 20, 2009 — Employee turnover is expected to rise next year as a new survey shows that many workers are unhappy with their present jobs. Sixty percent of employees intend to leave their current positions and an additional one-quarter are networking and updating their resumes, according to research from Right Management.
The Right Management survey of more than 904 workers in North America asked: Do you plan to pursue new job opportunities as the economy improves in 2010?
60% — Yes, I intend to leave
21% — Maybe, so I’m networking
6% — Not likely, but I’ve updated my resume
13% — No, I intend to stay.
“The study provides a barometer of employee engagement in the workplace, with results that might alarm and surprise many employers,” said Douglas J. Matthews, president and COO at Right Management. “Employees are clearly expressing their pent up frustration with how they have been treated through the downturn. While employers may have taken the necessary steps to streamline operations to remain viable, it appears many employees may have felt neglected in the process. The result is a disengaged and disgruntled workforce.”
Matthews said that the best workers are mobile in any economy. “We know that people are attracted by career development opportunities, attaining work-life balance and working for an innovative company culture. If management doesn’t provide employees with these opportunities, then workers are going to take their knowledge and skills elsewhere. Talented staff can change jobs because they can and want to, not because they have to.”
Last August, Deloitte kicked-off a debate on employee retention:
"In a tough economy, voluntary turnover isn’t considered much of a problem. In fact, companies struggling to reduce costs any way they can might even welcome the idea of people leaving voluntarily. At the same time, most employees are hunkering down and not even bothering to look for other jobs.
Of course, when the economy starts to turn around, it could be a whole new ball game. As companies scramble to find qualified talent, workers who suffered through years of anxiety and belt-tightening may defect in droves for better opportunities. Is this a real problem that business leaders should worry about now? Or should they wait and see what happens?"
That’s 87% actively engaging in activity to leave your organization. Take a look around your company today. Which employees do you think are the 13% most likely to stay? I guarantee it’s not your top performers. Various studies on employee engagement so it is the most disengaged that stay in their current role.
Jonathan A Fedak, CBP, CCP, MA Director Compensation Benefits Member Since: 8/1/2000 Comments: 1
Interesting, so when the economy begins to warm up and the employee exodus begins companies will need to know immediately why they are leaving. With limited budgets and resources companies will need this business intelligence to know which claw back benefit/compensation program needs to be re-offered first in order to slow the employee exodus.
Scott David Boynton, CCP Manager Compensation Member Since: 1/1/2001 Comments: 55
Hard to say if the 60% reflect an entitlement mentality in the workforce (I expect a raise regardless of the health of my company), employees who feel they have been mistreated in some other way, or a desire to find a more stable company that may be less affected by economic downturns.
Sarah Zipkin, CCP Compensation Manager Member Since: 11/11/1993 Comments: 2
Good point/questions from Mr. McConahy. On their website, Right Management only mentions that 904 employees were surveyed, online, in North America. Although this data is somewhat consistent with other surveys/articles as of late, we need to be careful regarding the interpretation.