iHire Examines Employee Turnover in 2019 Talent Retention Report
FREDERICK, Md. (PRWEB) October 15, 2019 -- iHire today published its 2019 Talent Retention Report, which showcases findings from the recruiting technology provider’s survey of 1,171 active and passive job seekers. Underscoring today’s candidate-driven labor market, iHire’s survey showed that 51.7% of professionals have left a job voluntarily in the past five years, while 35% of employed respondents admitted to job searching during work hours. The full report is now available for download: https://go.ihire.com/49yh.
Key findings in iHire’s 2019 Talent Retention Report include:
- Job-hopping is no longer taboo; it’s the norm: In addition to the 51.7% of respondents who’ve left their job voluntarily in the past five years, 75.5% said they planned to stay with their current employer no longer than five years. Further, 31.2% planned to stay less than one year. With frequent career changes, it’s not surprising that 35% of employees have actively searched for a new gig while “on the clock” (and 7.5% said they “preferred not to answer” this question).
- Employees aren’t highly engaged in their current roles, but they aren’t completely disengaged either: When asked to indicate their level of job satisfaction, 59.9% of employed respondents were either “somewhat satisfied” or “neither satisfied nor unsatisfied.” With no shortage of job opportunities, it’s easy to see how mediocre sentiments toward one’s work can lead an employee to pursue a more meaningful role elsewhere.
- Money talks, but so do growth opportunities: When asked to cite the primary reason they would leave their current job voluntarily, 16.9% of employed respondents said “unsatisfactory salary/pay” and 11.7% said “few growth or advancement opportunities” – the top two responses. Similarly, 48.6% of employees said a “raise or bonus” would increase their likelihood of staying with their employer if offered a new job elsewhere, while 21.6% said the same about “clear growth opportunities.”
- Company culture holds weight in retaining top talent: Approximately 40% of responses to the query on reasons for leaving one’s current job concerned company culture. For example, 10.7% of employees would depart due to a “negative/toxic work environment” and 7.0% said the same about a “poor work/life balance.”
“Qualified talent has become difficult not only to recruit, but also to retain due to a job market with more open positions than people to fill them,” said Steve Flook, President and CEO, iHire. “The possibility that a more rewarding career opportunity is out there is often too compelling for even the most tenured and loyal employee. That’s why employers need to make the extra effort to keep their best talent engaged, nurture staff’s professional and personal growth, and establish a workplace culture that cannot be found anywhere else.”
A total of 1,171 active and passive job seekers from across iHire’s 56 industry-focused talent communities responded to iHire’s survey in August 2019. Survey results, along with tips and tactics for reducing staff turnover, are found in iHire’s 2019 Talent Retention Report, available for download: https://go.ihire.com/49yh.
About iHire
iHire is a leading career-oriented platform that brings candidates and employers together in 56 industry-focused communities. We believe that by narrowing job seekers’ and employers’ searches within a specific industry, we can connect high-quality talent with the right opportunities faster, easier, and more effectively than a general job board. Everyone deserves to find work that is fulfilling, inspiring, and meaningful. Since 1999, we’ve combined cutting-edge technology with our expertise in the recruitment space and the invaluable insights of our members to achieve just that. Visit https://www.ihire.com for more information.
Kristina Kelly, iHire, https://www.ihire.com, (877) 798-4854, [email protected]
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