According to a survey by the Society for Human Resource Management (SHRM) and CareerJournal.com, better compensation (with 43% of employee respondents stating that this was the main reason for a possible move), better career opportunities (32%), and dissatisfaction with opportunities at a current job (22%) are the main reasons for such action.
HR professionals are noticing the effects as well, with 38% stating that they have noticed an increase in turnover since the start of 2004. The movement is mostly seen in non-management positions (69%) and middle-management positions (19%). One quarter of these HR professionals said that they are very concerned about the resignations, with the perception being that better compensation (25%), burnout (24%), and dissatisfaction with potential for career development (19%) seen as the three greatest threats to employee retention.
As a result, HR professionals are putting in place programs in attempts to quell the exodus, according to a SHRM press release. The two most effective strategies, according to HR professionals, are competitive salaries and career-development opportunities.
The survey as conducted by the two companies of 380 SHRM-member HR professionals and 506 employees.