Are 2/3 of Your Employees Ready to Leave?

The answer may be “yes”, according to a recent study by Deloitte Consulting titled “Talent Edge 2020”.

The study — discussed in a recent Fast Company blog authored by Diana O’Brien and Alice Kwan — references a longitudinal study being conducted by Deloitte.  Started in 2010, the latest survey results were released in January 2012 — and indicate that over 70% of  leaders have concerns about their company’s ability to retain top talent, with another 2/3 expressing the same concern about the retention of high-potential employees.

And with survey results showing that only about 1/3 of employees at larger firms planning on staying with their firms after the recession ends, these concerns are well-founded.  Already, incumbents with skills that are in high demand are not waiting to change companies — and many of those who are leaving are doing so due to dissatisfaction with their company’s leadership.

The survey also points-out that while over half of the companies surveyed believe that leadership development is a high priority, few believe that their organization’s capabilities will allow them to meet this challenge.  In addition, some companies express concern around investing too much in leadership development — fearing that their investment will be lost should employees leave the organization regardless of the company’s best efforts.

But while turnover will always be a part of business life, companies still stand the best chance of retaining high potential employees if they create a corporate culture that invests in employees and values their ongoing development.  Younger employees, in particular, feel the need to work for organizations where their efforts matter –and where they are recognized for their performance, and given opportunities to further develop.

In conclusion, O’Brien and Kwan point-out that if 2 out of 3 employees are ready to leave their jobs, it underscores that there is a high degree of dissatisfaction across the entire corporate sector.   Taking active steps to ensure that employees feel that their contribution is valued — and that the company is interested in their career development — is one way of decreasing turnover and increasing overall employee satisfaction.