TalentKeepers Reports Comprehensive Results from its 8th Annual Talent Engagement and Retention Trends Report for 2012
Winter Park, Florida — August 7, 2012. TalentKeepers, Inc. reported in its 8th annual Employee Engagement and Turnover Survey Report that 81% of US companies are seeking to impact performance and profitability by making employee engagement a strategic business priority. Executives across the country participated in this research, representing 430 organizations, with 55% having over 1,000 employees, from nearly every industry.
This year’s results reflect changes in talent management strategies as the country slowly emerges from the economic doldrums. With the majority of layoffs and labor cost-cutting behind them, businesses are focused more on ensuring the talent that remains is as productive, and therefore engaged, as ever. A majority of firms, 61%, seized on the slow economic period to hire better-skilled employees from the larger talent pool that became available. However, now many of these same organizations are concerned these employees may leave as the economy improves, adding pressure to employee engagement and retention strategies.
At the same time, results show trust and loyalty have eroded during the past year, contributing to an increase in voluntary turnover. Lost productivity, poor service, missed opportunities and more has sharply driven up the cost of voluntary turnover. “Combined, the direct and indirect cost of losing a valued contributor averaged roughly $155,000, as reported by those companies that calculate turnover cost,” said Christopher Mulligan, TalentKeepers’ CEO. He added, “As more executives understand the real cost of disengaged employees and the drivers of voluntary turnover, support for engagement and retention initiatives will grow.”
A copy of the Employee Engagement and Turnover Survey report is available at www.talentkeepers.com or by contacting Solutions@talentkeepers.com.
For over a decade, TalentKeepers® has been researching why employees join, stay and leave a company, Using this knowledge, we develop and execute organizational activities that involve leaders, co-workers, and employees themselves, to help our clients keep valued employees engaged and motivated, driving higher performance and business success. TalentKeepers has become one of the best known and most trusted names in the human resources industry. Learn more at www.talentkeepers.com.
Press Contact: Craig Taylor, 407-660-6041 x109