NEW DELHI: Consulting firm Deloitte has come out with a survey on talent priorities titled Talent 2020, which reveals that employees value meaningful work over other retention initiatives, the company stated in a press release.
The survey explored changing talent priorities in all industries in regions like America, Asia Pacific, Europe, the Middle East, and Africa. A majority (42%) of surveyed respondents seeking new employment opportunities believed that their job did not make good use of their skills and abilities.
Turnover intentions appear to be concentrated among spe-cific groups of employees at certain points in their careers, creating "turnover red zones" or employee segments at high risk of departure. Employees with less than two years on the job expressed the strongest turnover intentions, with 34% indicating they expect to have a new job within a year. The report stated that effective retention strategies should be aligned with the needs and desires of critical talent, especially when they belong to groups with a high risk of turnover. The survey results suggested that employee tenure is negatively correlated to turnover intentions. While preparing retention strategies, it might also be useful to pay attention to satisfaction levels in the early years of an employee's tenure.
The survey also revealed that companies should carefully tailor their strategies for engaging, developing, and retaining key employees to suit varying generations of employees.
Trust in leadership emerged as an important retention factor and a critical component of job satisfaction. 22% of respondents cited dissatisfaction with their manager or supervisor as the top reason to look for a new job.
Talent 2020 report reveals significant shifts in the talent market over the past year, particularly when it comes to turnover intentions," Thiruvengadam P, senior director, human capital advisory services, Deloitte said in a statement. "With the economic uncertainty following the great recession, more and more employees see their best career option as developing their skills with their current employers," he added.
The survey explored changing talent priorities in all industries in regions like America, Asia Pacific, Europe, the Middle East, and Africa. A majority (42%) of surveyed respondents seeking new employment opportunities believed that their job did not make good use of their skills and abilities.
Turnover intentions appear to be concentrated among spe-cific groups of employees at certain points in their careers, creating "turnover red zones" or employee segments at high risk of departure. Employees with less than two years on the job expressed the strongest turnover intentions, with 34% indicating they expect to have a new job within a year. The report stated that effective retention strategies should be aligned with the needs and desires of critical talent, especially when they belong to groups with a high risk of turnover. The survey results suggested that employee tenure is negatively correlated to turnover intentions. While preparing retention strategies, it might also be useful to pay attention to satisfaction levels in the early years of an employee's tenure.
The survey also revealed that companies should carefully tailor their strategies for engaging, developing, and retaining key employees to suit varying generations of employees.
Trust in leadership emerged as an important retention factor and a critical component of job satisfaction. 22% of respondents cited dissatisfaction with their manager or supervisor as the top reason to look for a new job.
Talent 2020 report reveals significant shifts in the talent market over the past year, particularly when it comes to turnover intentions," Thiruvengadam P, senior director, human capital advisory services, Deloitte said in a statement. "With the economic uncertainty following the great recession, more and more employees see their best career option as developing their skills with their current employers," he added.
Source : http://economictimes.indiatimes.com
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