WINTER PARK, Fla. – Employee turnover is on the rise fueled by the improving economy and jobs picture coupled with a pent-up desire by many people to reignite careers put on hold during the recession, according a national study by TalentKeepers, a leader in the talent management industry.
TalentKeepers studied over 600 companies and results show that not only is turnover rising, but the principle reason is new for the first time in a decade of research on employee retention trends. The improving job market is giving people who have been waiting for a chance to change jobs the impetus to move. Fifty-nine percent of US organizations report job and career factors to be the main reason employees are leaving, while only 25 percent cite poor treatment by leaders, the previous top reason and a widely accepted cause of turnover.
The trend is most evident in high-demand job categories like software programmers and business services, and in industries known for employee churn, including retail, food services and contact centers. Gen Y, already estimated to make up over 35 percent of the American workforce, also contribute to the story. “Tech savvy, energetic and hard-working, millennials now in the workforce have a strong desire to get on with their careers, wherever that takes them, and loyalty is not part of their makeup,” said TalentKeepers CEO Christopher Mulligan.
It remains well established that someone’s immediate supervisor plays a central role in employee retention. That said, the new data is clear that job and career factors have become the primary driver of employee turnover in 2013. Organizations will need to sharpen their focus on employee retention efforts on strategies that build job engagement, help employees grow and create for them a view of opportunity beyond the next paycheck.
TalentKeepers is a leader in providing award-winning employee engagement and retention strategies to clients around the world. Our talent management solutions span the employee life cycle and engage executives, leaders, teams, and front line employees to engage and keep valued employees. TalentKeepers is one of the most trusted names in the talent management industry. Learn more at www.talentkeepers.com.
Craig Taylor, 407-660-6041 x109