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Friday Figures: Do Companies Really Care About Us?
I've taken a short break from Friday Figures as we prepare to launch the next version of our comprehensive Emerging Workforce Study, but I am back this week with a new and concerning stat. Only 13% of workers say that their company has put more effort into retaining them than they have in previous years.
It's a well-known fact that workers are in great demand as we're starting to see the early effects of the much anticipated worker shortage. So, why do workers feel that their employers aren't putting effort into keeping them from walking out the door?
I have come up with three possible reasons:
Reason #1: Workers have unrealistic expectations about what their employers should be doing to retain them.
Reason #2: Perhaps the majority of workers we interviewed for this survey are low performers and their employers aren't all that concerned about retaining them.
Reason #3: Employers really haven't stepped up their efforts to retain their workforce yet.
While reasons one and two are certainly factors in some of the results, it's painfully obvious that employers just haven't taken a serious approach to retaining their existing workers yet.
Why is this happening?
It starts with HR priorities. In our 2005 Emerging Workforce Study we found that nearly 70% of employers said recruiting talent was a major concern for them, but only 34% said that retention was a major concern. What gives? It still seems that many employers don't link recruiting and retention. Don't they know that it is harder and more costly to find you in the first place than it is to try and keep you there?
I don't get this - to me they go hand in hand. Why spend all the effort on getting you in the door and little to none to keep you there? Maybe employers will eventually see the light - only after we all get wooed to another company. And so the cycle continues...
Posted by on August 17, 2007 at 1:31 PM
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