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
- 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 Todays Webinar:
Introduction to Loyalty
Whats Going On
Behavior Reveals the True Story
What Employees Really Want
What Should You Do
3. The GOOD News
- 86% now recruiting for open jobs
4. 58% companies adding workers 5. 16% increasing compensation
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
9. Whats Going On?
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 dont love it dont 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 somewhatlikely 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
Dont 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
[email protected]
Paul Jamieson
Director of Research, Monster Worldwide
[email protected]
