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Career Development is Essential to Retain Top Talent and Increase Productivity

MILWAUKEE, Dec. 18, 2014 /PRNewswire/ -- More than 80 percent of North American employees plan to pursue new career opportunities in 2015, according to a poll by Right Management, the global career experts within ManpowerGroup (NYSE: MAN). When compared to the U.S. turnover rate of 3.5 percent in October (according to the Bureau of Labor Statistics), the high percentage of individuals planning to seek new career opportunities indicates a workforce that is dissatisfied with their careers. This dissatisfaction tends to negatively impact productivity, and points to the need for organizations to provide more options for career development.

4 in 5 employees plan to seek new career opportunities in 2015. Lesson for companies who want to retain top talent: provide better career development, rethink how you motivate and engage employees

"Our data should serve as a call to action for managers and leaders who want to retain their top talent," said Bram Lowsky, Right Management executive vice president and global leader of career management. "The improving economy brings about a renewed job confidence, which results in increased interest in career mobility. This requires employers to rethink how they motivate and challenge their employees to keep them engaged. Creating a culture of career development is critical for engaging and retaining top talent and preventing them from leaving for the competition. Individuals want to stay when they feel they have opportunities to grow, learn and advance their careers."

According to the poll, only 5 percent of employees intend to stay in their current position, while 8 percent indicate they would opportunistically make a change in 2015 and are already networking. The latest findings are consistent with results from the last five years.

Do you plan to pursue new job opportunities in 2015?

2014

2013

2012

2011

2010

2009

Yes, I intend to actively seek a new position.

86%

83%

86%

84%

84%

60%

Maybe, so I'm networking.

8%

9%

8%

9%

8%

21%

Not likely, but I've updated my resume.

1%

3%

1%

2%

3%

6%

No, I intend to stay in my current position.

5%

5%

5%

5%

5%

13%

"Although actual turnover rates are much lower, the desire to look for new challenges should serve as a red flag for organizations that want to retain employees," said Lowsky. "It's clear, organizations must improve career development options internally so they don't lose talent."

Right Management provides expertise in aligning an organization's talent strategy with their business strategy and helping individuals develop their careers.

Right Management surveyed 665 employees in the U.S. and Canada via an online poll that ran from Nov. 7 to Dec.11, 2014.

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Right Management helps develop leadership pipelines for business impact

 

SOURCE Right Management; ManpowerGroup