Philadelphia, PA (PRWEB) October 13, 2011
Employee turnover is expected to increase worldwide during the next five years, according to a global survey by Right Management, the talent and career management experts within ManpowerGroup.
More than 2,000 internal and external recruiters, human resource executives and hiring managers from 17 countries representing more than 20 industry sectors participated in the Right Management survey.
Half the survey respondents globally expect higher turnover, said Bram Lowsky, Executive Vice President Americas at Right Management. "About a third foresees no change, and a minority a decrease�all of which points to greater turnover than organizations have been used to dealing with in the past decade."
Expectations of Higher Turnover in Next Five Years
(Percentage anticipating slight or significant increase)
North America =59%
Asia Pacific = 58%
Europe = 41%
Global average = 49%
"There's no such thing as typical or average turnover," Lowsky said. "Turnover varies widely from industry to industry. Moreover, some turnover is healthy, but high turnover is a top concern for all organizations everywhere. Yet, unless current expectations are wrong, most employers are soon going to have to cope with more loss of talent and know-how, greater recruitment and training costs, and all the turmoil entailed with people leaving and waiting for their replacement. And aside from the tangible costs, organizations may lose business opportunities as well as momentum as the constant departures will likely undermine the trust and engagement of remaining workers."
Lowsky advised employers to make greater efforts at identifying and retaining key contributors. "Even high turnover may be manageable if an employer is able to keep most of the best workers."
Only 14% of respondents globally anticipated a decrease in employee turnover.
About the Survey - The online survey was conducted in December 2010. There were 2,080 participants from 17 countries. The 25-item questionnaire was translated into more than ten languages.
About Right Management - Right Management is a global leader in talent and career management workforce solutions within ManpowerGroup. The firm designs and delivers solutions to align talent strategy with business strategy. Expertise spans Talent Assessment, Leader Development, Organizational Effectiveness, Employee Engagement, and Workforce Transition and Outplacement. With offices in over 50 countries, Right Management partners with companies of all sizes – including more than 80% of the Fortune 500 – to help grow and engage their talent, increase productivity and optimize business performance.
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