Employees opt to stay put, according to Deloitte.
Four out of five employees (80%) plan to stay with their organisations over the next year, according to a survey by professional services firm Deloitte.
‘Talent 2020’, Deloitte’s new global talent survey, which polled 560 employees worldwide, found this figure was a significant increase from 2011 when nearly 65% were planning to leave.
Out of the survey respondents, 46% indicate they are less inclined to move because, in the last 12 months, they have changed jobs (9%), were promoted (22%) or have taken new positions (15%) with their current employers. In contrast, however, nearly one-third (31%) say they are not satisfied with their jobs.
Dimple Agarwal, lead partner for organisation design and talent at Deloitte UK, says: “Companies must adjust their talent management initiatives to focus on retaining employees with the critical skills required to advance their business in today’s turbulent marketplace, as they pose the biggest flight risk.”
According to the survey, the top five reasons people seek new employment are primarily non-financial:
- Lack of career progress (27%)
- New opportunities in the market (22%)
- Dissatisfaction with manager or supervisor (22%)
- Lack of challenge in the job (21%)
- Lack of compensation increases (21%)
However, the top five retention incentives for employees are primarily financial:
- Additional bonuses or financial incentives (44%)
- Promotion/job advancement (42%)
- Additional compensation (41%)
- Flexible work arrangements (26%)
- Support and recognition from supervisors or managers (25%)
Other key findings show:
- Generation X employees are the most active in the talent market and Millennials are advancing up the career ladder the quickest.
- The financial services industry runs the highest risk of losing talent, with 25% of employees expressing turnover intentions over the next 12 months.
- Workers in the energy and resources industry express the most satisfaction with their jobs, with 78% overall satisfaction with their work.
- Employees in Europe, the Middle East and Africa are less satisfied with their jobs compared to those in Asia Pacific and the Americas.
