Benefits November 30, 2004

Survey: Three-Quarters of Employees Looking for Other Work

November 30, 2004 (PLANSPONSOR.com) - A majority of workers are looking for another job, with 75% of employees reporting that they are either actively or passively looking for other employment opportunities.
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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.

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