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 user 2003-09-10 at 11:50:00 am Views: 71
  • #4037
    Many Expect Heavy Turnover When Job Market Improves
    The majority of human resources (HR) professionals and employees agree that turnover will rise significantly once the job market improves, which both believe will most likely occur in the next year according to the latest Job Recovery Survey.

    Eighty-three percent of employees said it was extremely likely or somewhat likely that they would actively seek new employment once the job market and economy improved. In addition, 56 percent of HR professionals agreed it was extremely likely or somewhat likely that voluntary turnover would rise due to the improving economy. However, survey results also show that HR professionals have in place retention programs to address many of the issues expressed by employees, which may help to lower voluntary turnover rates as the job market improves.

    HR professionals and employees also were asked whether the job market would improve in the next three months, six months, 12 months or more than a year from now. Twenty-three percent of HR professionals and 42 percent of employees thought the job market would improve in the next three to six months. Forty-two percent of HR professionals and 36 percent of employees thought it would improve in the next year, while 34 percent and 22 percent, respectively, thought it would be more than a year.

    “HR professionals constantly address the reasons employees give for pursing other job opportunities,” said Debra Cohen, SPHR, Ph.D., Society for Human Resource Management (SHRM) vice president of knowledge development. “However, given the percentage of employees who plan to seek new employment opportunities, HR professionals need to place even more focus on retention efforts to ensure employers retain good, productive employees.”