We have been mentioning it a good deal recently here on Spark Hire, but we’re not the only ones that have been noticing it! The war for talent is back on, and companies need to focus on retaining their current employee base before they think about hiring more. As of November 2012, the unemployment rate is at 8.6 percent. It’s still not the best, but it’s a slight improvement. In fact, according to this infographic below from Visual.ly, 31 percent of executive employees are thinking of leaving their organization in 2012. That’s pretty close to half and should signal an alert to business leaders nationwide.
As more and more jobs slowly become available to job seekers, your dissatisfied employees might start thinking of jumping ship. With more options out there for them than before, workers are less likely to stay in unsatisfactory employment. That means they are more likely to leave your company and go elsewhere, leaving you with a new spot to fill. What’s the most interesting fact of this situation? These employees are not leaving because of an unsatisfactory salary. The top reason is that these employees are receiving viable calls from recruiters. The second biggest reason is conflict with management with the organization’s poor performance coming in at number three. With such a large percentage of employees leaving, there is no better time to think about employee retention.
What’s the best way to do that? Well, we’ve talked about it before and the infographic below confirms it: “make sure your team realizes they matter.” Sounds a lot like employee appreciation, doesn’t it? Look further into this infographic to see how you can start working towards retaining the employees you have before thinking of bringing on new ones.