Deloitte: 80% will stay with current employer in the next yearDOWNLOAD
30 November, 2012- Though high unemployment persists and the global economic recovery remains halting and uneven, employers still face challenges filling technical and skilled jobs. According to the new global talent survey from Deloitte and Forbes Insights, Talent 2020: Surveying the talent paradox from the employee perspective, four out of five (80%) employees surveyed report that they plan to stay with their organizations over the next year—a significant 45-point swing from 2011, when nearly two in three employees surveyed (65%) were planning on leaving their organizations.
“Sourcing and retaining talented human capital has become a top priority globally. It will act as the differentiating factor in the prosperity of countries and companies, especially in emerging economies such as the Middle East,” said Ghassan Turqieh, Human Capital consulting partner at Deloitte Middle East.
According to the survey, in the last 12 months 46% of surveyed employees have moved to new jobs (9%), received a promotion (22%), or changed roles (15%) with their current employers—all factors that might make them less inclined to move during the next 12 months. Yet nearly one-third (31%) of surveyed employees report they are not satisfied with their jobs.
Deloitte first uncovered this modern contradiction from the employer side in the January 2012 issue of Deloitte Review with “The talent paradox: Critical skills, recession, and the illusion of plenitude.”In this latest Talent 2020 report, Deloitte turns its focus to the employee perspective on the talent paradox.
As more employees appear to be sitting tight in their current positions, companies may be tempted to neglect their talent and retention strategies out of a false sense of security that their employees are here to stay. However, the report warns that companies’ most critical employees are also those with the most opportunities for movement.
“As employee expectations of business continue to grow, employers should keep a watchful eye on the latest employee attitudes and emerging talent trends,” said Rana Ghandour Salhab, talent and communications partner at Deloitte Middle East. “Specifically, businesses may want to adjust their talent management initiatives to focus on retaining two workforce segments: employees with critical skills who are at a high risk of departure, and the capable leaders who can advance their companies despite continuing global economic turbulence,” she added.
Based on the survey results and Deloitte’s analysis of the talent market, Deloitte identified three emerging trends:
This edition of the Talent 2020 report reveals significant shifts in the talent market over the past year, particularly when it comes to turnover intentions. In order to help corporate leaders retain top talent, Deloitte recommends increasing a company’s focus on utilizing and developing employee skills, emphasizing and rewarding authentic leadership, and fostering an environment with effective, transparent communication.
About the survey
Talent 2020: Surveying the talent paradox from the employee perspectiveis the fourth in a series of talent reports. Talent 2020 is a follow up to the Managing talent in a turbulent economy longitudinal talent survey series. This survey was conducted in collaboration with Forbes Insights to explore the changing priorities and needs of employees at global and large national companies. This report features results from a survey that polled 560 employees of large businesses in the Americas, Asia Pacific, and Europe, the Middle East, and Africa across a range of major industries. For more information please visit www.deloitte.com/talent2020.