Talent Edge 2020
Building the recovery together—What talent expects and how leaders are responding
Over the past few years of a tight economy, we may have viewed the talent landscape as an “employers market.” Now, the focus on talent shifts to an increasingly competitive environment for the best and brightest. The challenge is made more complex by the divergent attitudes and perspectives of the talent pool, from aging Baby Boomers to Generation Xers to the Millenials.
Our latest report in the Talent Edge 2020 longitudinal survey series, Talent Edge 2020: Building the recovery together—What talent expects and how leaders are responding examines the attitudes of more than 350 employees worldwide and provides insights to our people and our clients as businesses move forward in a recovering economy. The survey results indicate that many companies are not addressing the critical needs and potential frustrations of their employees. Please use the attached customizable email to share the report with your clients. Key findings include:
- Employers may risk losing the hearts and minds of employees: With a stronger economy, many employees are now actively testing the job market. 65% of employees surveyed desire to leave their current employers.
- What do the 65% of employees looking for the exit sign see that their employers don’t? 53% report the prospect of job advancement or promotion would persuade them to stay with their current companies.
- Targeting talent strategies to generations helps keep teams intact: Both turnover triggers and retention incentives vary significantly across employee generations:
- Baby Boomers expressed greatest frustration that their loyalty and hard work has been neither recognized nor rewarded.
- Generation Xers appear frustrated that they are bumping up against the “gray ceiling”—with career paths blocked by Baby Boomers who are not moving out of the workforce.
- Millennials seek a corporate culture with progressive values—such as their employers’ commitment to sustainability, corporate responsibility, and creating a “fun work environment.”
- Companies that lift their games to deliver “World-Class” talent programs will be rewarded: Employers that do lift their talent efforts will likely be rewarded with employees who are more satisfied with their jobs and career prospects and who are far more likely to remain with their current employers.
If you have any questions about the report and its findings, please contact Richard Kleinert.