During the last 18 months, hiring has decreased and voluntary turnover has slowed to a halt. Pent-up attrition has grown as employees who had intentions to leave their organization decided to stay and ride out the storm. In addition, the pressure and job insecurity that has accompanied the economic downturn has reduced job satisfaction and employee engagement.
With the economy bouncing back, many employees are surfacing from the recession with a sour taste for their current job and are brushing up their resumes in search of better opportunities. Interesting fact: Traffic on Monster.com has increased approximately 9% in the last three months.
You might have observed this trend yourself. In your own organization are you seeing increased requests for recommendations on LinkedIn? Are you noticing people around you going back to school for more education, striving to polish their resumes with increased certifications and degrees?
Are you prepared to see your best and brightest employees take a different job?
Guarding against a post-recession employee exodus requires understanding the factors that may be leading to attrition within your organization. Take a pulse of your workforce to find out what you can do to retain your best employees. Now is the time to pinpoint the factors that most impact attrition and take action to retain your best talent.
