Pent-Up Departure Demand
How many of your employees would quit if they could?
Did you read the study we released in February on “PENT-UP DEPARTURE DEMAND”?
In the study, we focused on the growing percentage of employees who have felt stuck in their jobs for more than a year and as long as three years. We have been tracking this trend since early in 2009.
Since we released the study, we’ve been hearing from many business leaders and managers primarily asking, “How can we tell if this is a problem for us?”
How can you evaluate pent-up departure demand in your organization?
First, determine whether your organization meets the key risk factors outlined in the report, especially having engaged in significant downsizing multiple times since 2009.
Second, zero in on your high-value employees who may be most likely to feel “stuck,” especially those with long track records of high performance who have recently demonstrated diminished commitment, effort, attitude, apparent willingness to “go the extra mile,” and/or eagerness to contribute their best ideas.
Third, consider engaging in “reenlistment” or “retention” conversations with those high-value employees most likely to be at risk of sudden voluntary departure. There is a strong likelihood you may be able to reenlist the individual if you are able to offer some improvement in pay or benefits; a change in the manager to whom the employee reports; some additional flexibility in their schedule; a change in tasks/responsibilities; an adjustment of their workspace; or an opportunity to relocate.
(The Wall Street Journal wrote about the lingering low “Quits Rate” and its effect on the economy earlier this week.)
To download the white paper, click here.
FROM OUR RESEARCH
More than 46% of all employed individuals in the civilian workforce today have felt “stuck” (meaning they have an unfulfilled desire to leave) in their current job for at least a year. We saw a significant spike in that percentage in the years 2007 through 2010, though the level has been relatively stable in the mid-40s% since 2010. As we dig deeper into the longitudinal data we find that the percentage of those who have felt stuck in their job for longer than one year has continued to grow steadily throughout this time. Nearly a quarter of employees in the workforce today have said consistently that they have felt “stuck” in their current job for more than three years.
Our research is going strong here at RainmakerThinking. You can expect to see additional White Papers based on our data and analysis in the coming months. Meanwhile I’m still traveling all over creation presenting our research in keynotes and seminars several times a week at companies of all shapes and sizes and at association conferences serving leaders in a wide range of industries, from bankers to pet food distributors to electrical contractors to operating room nurses… to name just a few. I hope to see you soon in person at one of these conferences or at least to hear from you via email. Please keep the emails coming.
Generation Y Books
Rochester Business Journal
New York Post
Staying in the Office Past Closing to Prove Dedication
Why Writers are the Worst Procrastinators
When is Enough Enough?
How to be an Effective Manager
The Conference Board Review
Not all turnover is bad. With some employees, you should worry that they might leave. With others… You should worry they might stay.