American workers are apparently telling the truth: They aren't just surfing the Web aimlessly while they wait for the clock to strike five. A lot of that keyboard clacking is just a chorus of updating resumes.
At least that's the word out of the latest Society for Human Resource Management survey. Seventy-six percent of employees are looking for new employment opportunities, according to the 2005 U.S. Job Recovery and Retention Survey, conducted in conjunction with Career- Journal.com.
Despite that overwhelming figure, this doesn't come as breaking news to most human resource departments. The survey also revealed that 65 percent of HR professionals are worried about voluntary resignations. To stop the labor bleeding, nearly half of the surveyed companies are fighting back with special retention strategies.
It must be about the money, right? Or compensation as a whole? Well, yes and no.
"Offering competitive salaries for the market is important to employees, however, compensation alone is not sufficient for a complete retention strategy," SHRM President and CEO Susan R. Meisinger says. "Career development opportunities and work-life balance are important for today's employee, and employers must consider these types of issues in their retention practices if they want to develop successful organizations."
According to the study's findings, employees and HR professionals agreed on the top reasons employees cleaned out their cubicles: better compensation elsewhere, career opportunities elsewhere and lack of career development.
This clearly opens the door for brokers. Compensation remains a priority for chronically dissatisfied employees and perpetually frustrated employers. And while better salaries would top anyone's list, they often remain outside the realm of practicality. But there is a wealth of voluntary products that enhance a compensation package at little to no cost to the employer. Or the employee.
Workers want more. If they don't get it, they will move on. They already are. And in a labor market where the balance of power continues to shift, employers need all the help they can get in attracting and retaining good employees.
Tell them you have the answer.
