Do you think your employees are happy with their current career? Think again! A recent study by University of Phoenix found that may not be the case. The continuous improvement of economic conditions and the increased career opportunities in most industries, has assisted in the increase of passive candidates. So who are these passive candidates?
- 78% of workers in their 20’s are interested in changing careers
- 64% of workers in their 30’s are interested in changing careers
- 54% of workers in their 40’s are interested in changing careers
- 51% of workers in their 50’s are interested in changing careers
- 26% of workers who are in their 60’s or older are interested in changing careers
With such a large majority of the workforce interested in making a career change, maintaining your strongest performers can be an uphill battle. The struggle to locate top level talent has resulted in many employers offering a multitude of incentives to locate strong performers including referral bonuses, larger relocation packages, sign on bonuses, and other perks making the decision to leave a current employer more appealing for some candidates who may be on the fence about making a career change. So what can you do to maintain your team?
- Recognize and appreciate your staff on a regular basis.
- Create and maintain a strong employment brand.
- Offer growth opportunities within your organization.
- Fully engage in an employee retention program.
- Offer and encourage employees to take advantage of company perks and benefits.
The high costs attributed to employee turnover far outweigh the costs of most employee retention and appreciation programs. If your organization does not engage in an employee retention program, now is a great time to consider employing one!