Is Workforce Loyalty A Thing of The Past?
•Download as PPTX, PDF•
1 like•1,113 views
The good news: With the worst of the recession behind us, companies are once again hiring. The bad news: Many talented workers are now looking for growth opportunities and are ready to leave their current employer. What will you do to retain your best talent? Whether you are a small business or a large enterprise organization, you need to identify strategies to help minimize a post-recession talent exodus in your company. Check out this presentation and learn how worker loyalty differs by company size and explore ways to increase worker loyalty in your company. We will emphasize strategies that can be used by small businesses to help them better manage their workforce during this period of economic transition. You will learn ways to: Address any misalignment in compensation Target the “right” hire Communicate a strong employer brand Continually fill a pipeline of prospects Strive to keep your “A” workers
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Is Workforce Loyalty A Thing of The Past?
Similar to Is Workforce Loyalty A Thing of The Past? (20)
More from Monster
More from Monster (20)
Recently uploaded
Recently uploaded (20)
Is Workforce Loyalty A Thing of The Past?
- 1. For more trends and ideas from the evolving world of work, visit MonsterThinking.Com Is Workforce Loyalty a Thing of the Past? Should I Stay or Go Now? Presented by: Jeff Quinn Senior Director of Research, Monster Worldwide Paul Jamieson Director of Research, Monster Worldwide Co-hosted by: http://www.facebook.com/monsterww @monster_works @monsterww http://www.monsterthinking.com/ http://www.youtube.com/user/MonsterVideoVault
- 2. Agenda For Today’s Webinar: Introduction to Loyalty What’s Going On Behavior Reveals the True Story What Employees Really Want What Should You Do
- 4. 58% companies adding workers
- 6. 10% increasing benefitsSource: Monster Research Study: Worker Loyalty, 2011
- 7. The NOT SO GOOD News 76% of employers think they FAIRLY COMPENSATE their workers 41% of HR Executives find it MORE CHALLENGING to attract talent for new jobs ONLY 33% of workers FEEL THE SAME WAY Source: Monster Research Study: Worker Loyalty, 2011
- 8. The BAD News While companies report that worker loyalty has decreased just 14.5% in past year… 82% of employees say they have updated their resume in the past six months 59% are looking for a job all the time Source: Monster Research Study: Worker Loyalty, 2011
- 10. Do you like your job? Yes – I LOVE IT No – Are you really asking me this I am just glad to have a job – don’t love it – don’t hate it Please Vote to the Right of Your Screen
- 11. Who do you identify with???
- 12. Overall, people like their job 50% 30% 20% Source: Monster Research Study: Worker Loyalty, 2011
- 13. And they like many aspects of it Workers Are Satisfied On Many Levels Workers Largely Respect Their Companies Source: Monster Research Study: Worker Loyalty, 2011
- 14. Standard measures of loyalty are respectable How likely would you be to recommend your company as an employer to a friend or relative? 45% very or somewhat likely to recommend Source: Monster Research Study: Worker Loyalty, 2011
- 15. “EMPLOYEE” Net Promoter Score is dismal How likely would you be to recommend your company as an employer to a friend or relative? Promoters 20% Employee Net Promoter Score -38 Detractors 58%
- 16. Behavior Reveals the Full Story
- 17. Workers are restless and not very loyal I would consider another job if someone I trust referred me… 87% Strongly Agreed Source: Monster Research Study: Worker Loyalty, 2011
- 18. Tenure does not equal loyalty “Would Consider Changing Jobs” Source: Monster Research Study: Worker Loyalty, 2011
- 19. Resumes are being updated all the time When was the last time you updated your resume/profile? 2% Do not have one 8% More than 12 months 18% 3-6 months 64% 1-3 months 82% Source: Monster Research Study: Worker Loyalty, 2011
- 20. More than half are actively looking for a new job 2% Never 11% Seldom 28% Occasionally 28% Frequently 31% All the Time How often do you look for a job 59% Source: Monster Research Study: Worker Loyalty, 2011
- 21. What Employees Really Want
- 22. Many factors are at play when making the decision to accept an offer Top 5: 91% Higher Salary 88% Better Benefits 87% Career Advancement 78% Better Leadership 78% Better Company Culture 91% Said a higher salary was very important when deciding to take a new position Source: Monster Research Study: Worker Loyalty, 2011
- 23. Company size is yet another factor Interest in working for different sized companies Source: Monster Research Study: Worker Loyalty, 2011
- 24. Perceived value of working for different sized companies Smaller Companies Larger Companies Stable workplace Better benefits Higher salaries Chances for promotions Better resources Being part of a family Feel more valuable Treated as individual Bigger impact Opportunities to learn Source: Monster Research Study: Worker Loyalty, 2011
- 25. What Should You Do
- 26. #5 Address misaligned salary, compensation perceptions Source: Monster Research Study: Worker Loyalty, 2011
- 27. #4 Find ways to improve the company culture Source: Monster Research Study: Worker Loyalty, 2011
- 28. #3 Manage your employer brand effectively Source: Monster Research Study: Worker Loyalty, 2011
- 29. #2 Expand and improve your talent acquisition strategies Source: Monster Research Study: Worker Loyalty, 2011
- 30. #1 Keep your “A” players Don’t treat all your employees the same Source: Monster Research Study: Worker Loyalty, 2011
- 31. Thank you & Questions CONTACTS: Jeff Quinn Senior Director of Research, Monster Worldwide jeffrey.quinn@monster.com Paul Jamieson Director of Research, Monster Worldwide paul.jamieson@monster.com
Editor's Notes
- The March 2011 Monster Workplace Loyalty Survey was conducted online within the United States between March 7 and March 18, 2011.Monster interviewed a U.S. sample of over 500 registered Monster users who indicated they had full or part-time employment. The survey has a margin of error of (+-) 4.25% at the 95% confidence level.In addition, Monster interviewed almost 1,000 employers across a range of company size, geographical regions and industries.
- 41% of HR directors say it’s more challenging to attract talent for new jobs.76% of employers think they fairly compensate their workersbut just 33% of workers feel the same way.
- SO many of you said……YesNOBLAH -
- 50% = Somewhat to Very Satisfied30% = Neutral205 = Somewhat or Very Dissatisfied
- Strongly or somewhat agree
- Are we happy with 45%
- Customer Satisfaction with their brands measured by NPS in the business world today Net Promoter Score among Employees for their Employer: - 38!With 20% Promoters, and 58% are Detractors
- 82% have updated resume in last 6 monthsWhen was the last time you updated your resume/profile?2% Do not have8% More than 12 mos18% 3-6 months64% 1-3 months
- 59% are looking for a job frequently or all the timeHow often do you look for a job2% Never11% Seldom28% Occasionally28% Frequently31% All the Time
- Topic Very Important (7-10) Working for a new supervisor 47%To work for a previous supervisor I enjoyed working with 56%Better corporate social responsibility 58%Greater flexibility (part time, flex time) 60%More desirable location 71%Better company reputation 72%Better skills training 77%Better company culture 78%Better leadership at the company 78%Greater career advancement opportunities 87%Better benefits 88%A higher salary 91%
- Smaller <250Larger >500
- More effectively communicate fairness of salary and benefits so employer brand well perceived by internal employees and external candidates. Salary Fairness – Employees 33Company 76
- Employer brandingFix perceptions68% of people consider a new job for a better corporate culture and leadership One of the four top reasons to want to work for different sizedcompany is “being treated as an individual, not a number.”
- Employer brandingFix perceptions68% of people consider a new job for a better corporate culture and leadership One of the four top reasons to want to work for different sizedcompany is “being treated as an individual, not a number.”
- The reality is that the vast majority of employees are open to new job possibilities, even if they’re not actively searching. Employee turnover is likely to increase as the economy improves, creating additional challenges for finding new talent. 13% - The small percentage ofemployees who never or seldom look for a new job.
- Don’t’ treat all employees the sameFocus on you’re a-players and ensure you consider employee tenure when considering loyalty