Report Reveals 80 Percent of Employees Plan to Stay with Current Employer in the Next Year

As high unemployment persists and the global economic recovery remains halting and uneven, the “resume tsunami” appears to have been reduced to a “resume riptide.” According to Deloitte’s new global talent survey, Talent 2020, four out of five (80 percent) employees plan to stay with their organizations over the next year, a significant increase from 2011 when nearly 65 percent were planning to leave. Forty-six percent of the survey respondents indicate they are less inclined to move because, in the last 12 months, they have changed jobs (9 percent), were promoted (22 percent), or have taken new positions (15 percent) with their current employers. Surprisingly, however, nearly one-third (31 percent) say they are not satisfied with their jobs. 

 Out of a false sense of security, companies may neglect their talent and retention strategies as more employees appear to be staying put. However, the Deloitte report warns that organizations’ top performers are also those with the most employment opportunities.

Deloitte teamed with Forbes Insights for its fourth report in the Talent 2020 series, surveying employees across major industries and global regions. Based on the results and Deloitte’s analysis of the talent market, Deloitte identified three emerging trends:

-- Engage employees with meaningful work or watch them walk out the door. Employees value meaningful work over other retention initiatives. A majority (42 percent) of respondents who have been seeking new employment believe their job does not make good use of their skills and abilities. 

-- Focus on “turnover red zones.” Employee segments at high risk of departure, or “turnover red zones,” are employees with less than two years on the job and Millennial employees (those aged 31 and younger). 

-- When it comes to retention, leadership matters. More than six in ten employees (62 percent) who plan to stay with their current employers report high levels of trust in corporate leadership.

-- Who is leaving and how do companies hold onto key employees?
Interestingly, the incentives to get employees to stay are not exactly the same as the factors that would cause them to leave. 

More information on the service and support industry can be found at www.SupportIndustry.com