SIGNS TALENT RETENTION STRATEGIES ARE FALTERING KELLY GLOBAL WORKFORCE INDEX ™ 8 MICHAEL S. WEBSTER THE AMERICAS: CANADA, UNITED STATES, PUERTO RICO & MEXICO
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8 Signs Talent Retention Strategies are faltering - Americas
This ebook is extracted out of the report Acquisition and Retention in the War for Talent. It belongs to the Kelly Global Workforce Index, a global questionnaire of the workforce solution company Kelly Services across 30 countries with more than 165,000 participants.
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1. 8signs talentretentionstrategiesare falteringkelly Global
workforce index michael s. websterThe Americas:Canada, United
States,Puerto Rico & Mexico
2. Talent retention suffers a setback in the AmericasOver the
past three years, employees intentions to leave They want meaning
in their work. Todays employees and looking to careers with
multiple organizations, wheretheir current jobs have risen more
steeply in the Americas want to feel valued and they want to be
challenged. Few the skills and quality of the work they engage in
is the keythan anywhere else in the world. organizations appear to
be meeting the mark on these driver of satisfaction. fronts, and
employees are not overly optimistic aboutJust three years ago, when
the first significant effects of their ability to influence this
change within their current In many ways, the results we see
emerging over thethe great recession were being felt, employee
retention organization. Instead, theyre carefully planning their
next year are simply an intensification of a longer termin the
region was the highest in the world. Now, it seems next career move
with an eye on attaining new skills and trend thats been building
for some time. Decliningemployees are taking their careers into
their own hands. broader experience, which they hope will shore up
their satisfaction and meaning at work is reaching a naturalTheyre
reporting high levels of dissatisfaction, but its not future
employment prospects. crescendoand its hardly assisted by ongoing
marketthe trivial kind. Rather, they appear to be searching for
turmoil and the quickening pace of change. Now, itsorganizations
that will embrace their potential, provide To some degree, these
patterns are similar across up to HR professionals, hiring managers
and seniorthem with consistent challenges, and thisfar more than
the globe. Of 170,000 employees surveyed across 30 leaders across
the regions organizations to respond,higher salaries or better
benefitsis the reward they are countries, two-thirds are planning
to switch organizations and respond decisively.seeking in spite of
economic uncertainty. within the next year. Yet, employees in the
Americas have bucked this trend in the past. Now, theyre falling in
lineKelly Global Workforce Index 2
3. 1 / Voluntary attrition increases sharplyMany more employees
are looking to move organizations than they were threeyears agoa
result that puts the Americas in line with a strong global
trend.Employees in the Americas have seen the greatest job
switchingupswing in voluntary, planned attrition intentions, with
Job Switching AMERICAS Do you intend to look for a job with another
organization within the next year? (% Yes, by region)an increase of
some 20 percentage points over the past 100three years. Other
regions report unchanged, or only 69% 74% 58% 62%slightly elevated,
results on this front. 90 80This year, two-thirds of workers in the
Americas(67%) say they intend to look for a job with another
70organization, compared with just 45% in 2009. InMexico, this
figure is among the highest in the world, 60with almost
three-quarters of workers (74%) planning 50a career move this year.
Canada is also higher thanthe global average at 69%, and the U.S.
is just slightly 40lower at 62 percent. Puerto Rico is the lowest
within the 30Americas, and significantly below the global average.
20It appears that employees plan to move organizationsas part of a
broader career strategy, perhaps in 10response to decreasing career
prospects in their current 0role and the need to acquire new skills
in a rapidly Canada Mexico Puerto Rico United Statesevolving
market.Kelly Global Workforce Index 3
4. 2 / Exits are now well-planned, strategic decisionsWhile
voluntary attrition plans are on the rise, unplannedexits driven by
personal frustration are low.Fewer employees in the Americas feel
the I quit urge I quit!than those in other parts of the world, yet
more have I Quit! AMERICAS Do you frequently think about quitting
your current job and leaving your employer? (% Yes, by
region)already planned to leave for strategic reasons. Its not
100sudden dissatisfaction thats driving peoples intent to 29% 27%
22% 28%move on, but something more complex. 90 80Above all,
employees are seeking greater opportunitiesto develop and excel in
their field. They want to use 70more of their existing skills and
experience, and theywant a genuine challenge. However, few
employers 60appear to be offering it. 50More than one-third of
respondents globally (37%) 40say they frequently think about
quitting their job andleaving their employer. This is considerably
lower in the 30Americas where fewer than three in ten people (28%)
20frequently feel like quitting their job. Across each of
theregions within the Americas this result is similar, with
10Puerto Rico again significantly below the regional and 0global
average. Canada Mexico Puerto Rico United StatesKelly Global
Workforce Index 4
5. 3 / Lack of meaning at work is eroding satisfactionHappiness
at work comes from a sense of meaning and achievementwithoutit
employees are looking elsewhere in spite of economic uncertainty.In
the Americas, just half of employees (50%) feel that job
fulfillmentthey have a sense of meaning in their work. While Job
Fulllment AMERICAS Does your current employment provide you with a
sense of meaning? (% Yes, by region)both Canada and the U.S. report
lower levels of 100meaning in their work than the global average,
more 42% 77% 58% 42%than three-quarters of people in Mexico (77%)
feel they 90have genuine job fulfillment. 80The issue of meaning is
closely linked to how happy 70employees are in their jobs.
Employees in both Canadaand U.S. report low levels of happinessjust
47% and 6048% respectively, while 58% in Puerto Rico and 71% 50of
those in Mexico say they are happy with their job.So it seems that
while some people can have meaning 40without happiness and vice
versa, for most the two 30issues are linked. 20 10 0 Canada Mexico
Puerto Rico United StatesKelly Global Workforce Index 5
6. 4 / They believe having multiple employers is an
advantageWhile some still believe its possible to have one employer
for life,most see multiple employers is a career asset.While many
in Mexico still believe in the concept of one one employer for
lifeemployer for life (66%), which is well ahead of those One
Employer for Life AMERICAS To what degree do you agree or disagree
that a career-for-life with one employer is relevant? (Total
agree)who still hold this view in Canada and the U.S. (38% 100and
45% respectively), it seems it is becoming less and 38% 66% 54%
45%less likely in reality. Most employees now believe that
90staying with a single employer is a limitation on their 80career
prospects. 70In the U.S., some 60% of workers feel that
gainingexperience with multiple employers is an asset to their
60careers, as do 64% of workers in Canada, and 74% of 50those in
Mexico. 40 30 20 10 0 Canada Mexico Puerto Rico United StatesKelly
Global Workforce Index 6
7. 5 / Counter offers are unlikely to change their mindsFew
employees are keen to have an open dialogue with their employers
about theirdesire to move on, which signals their minds are already
made up.People in both the U.S. and Canada align with the likely to
share quitting plansglobal trend of not intending to share their
quitting How likely are you to share your potential plans to move
to another organization with your employer, withplans with their
employersjust 29% in both countries Likely to share quitting plans
AMERICAS the thought that this may result in changes that may
motivate you to stay? (Total likely, by region)say they would do
so. However, employees in Mexico 100 29% 44% 46% 29%and Puerto Rico
are significant outliers on this count. 90Almost half (44% and 46%
respectively) say they wouldshare their intentions with their
employer in the hope 80that it will result in changes or
counter-offers that will 70enable them to stay put. 60While there
are large differences across the region, alarge number of employees
seem set on their plans 50to move organizations regardless of their
managers 40response to their resignation. Given that most
counteroffers are usually just a rise in pay, employees are again
30indicating that financial incentives are not the only kindof
change theyre looking for. 20 10 0 Canada Mexico Puerto Rico United
StatesKelly Global Workforce Index 7
8. 6 / Few employees feelvalued or fully utilizedJust 45% of
employees in the Americas say they feel realising potentialvalued
by their current employer. Realising potential AMERICAS Do you feel
that our current employer is realising the full benefits of your
potential? (% Yes, by region) 100The sense of being valued is
lowest in the U.S. (42%) 29% 39% 31% 28%and considerably higher in
Mexico and Puerto Rico 90(both 53%) with Canada sitting in the
middle at 8046 percent. 70Many employees across the region also
report thattheir full potential is not being realized by their
current 60employer. Just 31% of employees in Puerto Rico, 29% 50in
Canada and 28% in the U.S. feel they are maximizingtheir abilities
in their current role. In Mexico this figure 40is significantly
higher at 39%, but still well short ofrepresenting a full engaged
and utilized workforce. 30 20 10 0 Canada Mexico Puerto Rico United
StatesKelly Global Workforce Index 8
9. 7 / They want personal fulfillment and to be challengedWhat
really keeps employees engaged enjoyable and challengingworkis
often difficult for managers to respond to.When asked about what
drives the decision to accept Factors that drive job choice factors
that drive job choiceone role over another, personal fulfillment
and personal Which of the following factors would drive your
decision to accept one job/position over another? (By
region)growth/advancement accounts for around eight in every 10010
responses. In Puerto Rico, these two factors accountfor slightly
less (70% of responses), while in the U.S theyaccount for 74% and
80% in Canada. In Mexico, 85% of 80people say these two factors are
the main reasons foraccepting one job over another.When asked which
factor makes them feel more 60committed and engaged with their
current job,more challenging and interesting work, and
moremeaningful responsibility accounted for the majority of
40responseswell ahead of higher salaries and benefits.In the U.S
this accounted for four in ten responses(40%), in the Canada the
proportion was 46%, in 20Mexico it was 43%, and lowest in Puerto
Rico (37%). 0 Canada Mexico Puerto Rico United States Personal
fulllment/growth/advancement Compensation/benetsKelly Global
Workforce Index 9
10. 8 / Their desire for reward is personalDont assume all
employees are looking for a raiseits usually more complicated than
that.Compared to the global average, fewer people in the Rewarding
Performance Americas rewarding performanceAmericas expect any form
of reward for a job well done. What is your preferred way of being
rewarded for good performance at work (By region)This is highest in
the U.S., with more than one-quarter 100of people (26%) saying they
dont require a specificperformance reward, and significantly lower
in Mexicoat 13 percent. 80The significant differences across all
countries andregions points to the fact that rewards and
incentivesare very personal. Having a one-size-fits-all approach
60is likely to miss the mark, as none of the suggestedperformance
rewards can claim to meet the desires ofthe majority of any worker
population. 40 20 0 Canada Mexico Puerto Rico United States
Financial Bonus None requiredKelly Global Workforce Index 10
11. conclusionA strong, global pattern has emerged in talent
retention. performance target. After all, large numbers of people
encouraging other departments/managers and teamsMost people are
planning to switch organizations within say that challenging work
helps to keep them engaged to seek skills internally, will increase
development andthe next year, and they have clear, strategic
reasons why in their job. growth opportunities for internal
talent.theyre doing so. Commit resources to documenting and keeping
Focus on ways to demonstrate the outcomes andFew feel that their
current organization is accessing their track of employees skills:
few employees feel their contribution of each employees role:
meaningpotential, which inevitably throws up a negative cycle: as
full potential is being utilized in their role. This is a at work
is critical to engagement and satisfaction,one employee leaves to
pursue their potential, another poor outcome for both employee and
employer. Some so finding ways to demonstrate the ways in
whicharrives in their place with the same goal. It seems both of
this is simply that managers and HR departments each role
contributes to overall outcomes is key towill get what they seek
for the short term and then the do not always have a clear view of
the skills that retention and productivity. Team recognition is
fine,cycle will repeat, leaving HR and hiring managers to pick each
employee has, and as a result they fail to be but individuals
(particularly highly talented ones) wantup the pieces and
consistently plug skill gaps. proactive about helping employees use
these as new to see how they impact results too, and this means
opportunities arise. finding ways to measure and report on
it.Instead of being locked into an endless, vicious cycle, HR Find
ways to move employees internally: for most Make the most of
contingent workers: aroundprofessionals, hiring managers and senior
leaders in the employees, the idea of an employer for life is
outdated one-third of most workforces are now made up ofregion
should look to: and instead they actively seek new employers to
contingent labor, and these workers need to be kept Give employees
a voice in how theyre rewarded: access and develop new skills. This
can be provided engaged, motivated and rewarded too. This highly
dont assume a bonus will always be top of the list. internally, but
is likely to fail if the entire process relies skilled group offers
a wealth of potential, but if its Consider other projects, skills
and responsibilities that on managers. Allowing employees to choose
projects not being used, theyre more likely than others to staff
can be exposed to should they reach their high- and make a case for
being part of them, as well move quickly.Kelly Global Workforce
Index 11
12. This ebook is extracted out of the report Acquisition and
Retention in the War for Talent. Download your FREE copy
today.About the AuthorMichael S. Webster is executive vice
president and general manager, Americas, for Kelly Services.Prior
to joining Kelly, Mr. Webster worked for nearly 20 years at GE
Plastics, last serving as general managerof the companys North
Central region.Mr. Webster holds a bachelors degree in business
administrationfrom West Virginia University.MethodologyThe Kelly
Global Workforce Index was open to respondents around the globe and
took the form of a questionnaire on the KellyServices website. Data
was collated and analyzed by RDA Group. A number of questions have
remained consistent over the courseof the survey and allow
time-series analysis.About KellyKelly Services, Inc. (NASDAQ:
KELYA, KELYB) is a leader in providing workforce solutions. Kelly
offers a comprehensive array ofoutsourcing and consulting services
as well as world-class staffing on a temporary, temporary-to-hire
and direct-hire basis. Servingclients around the globe, Kelly
provides employment to more than 550,000 employees annually.
Revenue in 2011 was $5.6 billion.Visit www.kellyservices.com and
connect with us on Facebook, LinkedIn, & Twitter. EXITKelly
Global Workforce Index