Randstad Survey Reveals More Employees Leave Jobs for Career Growth
Poll of 11,000 U.S. workers uncovers four factors to help companies enhance their employee attraction and
As American companies grapple to retain top talent, Randstad US has released the results of its most recent Employer Branding Survey, which uncovers four key factors impacting employee attraction and retention. Randstad’s 2015 Employer Branding Survey arms U.S. companies with specific areas they can address to minimize employee turnover in today’s competitive talent market.
Trend #1: A lack of career path, not salary, is the number one reason employees leave their jobs
Employers beware: employees who have left their jobs in the past 12 months cite lack of career growth opportunities (26 percent) as the primary reason for leaving a company, followed by low compensation (23 percent) and poor leadership (19 percent). This finding underscores why companies must enhance retention strategies with more customized career paths designed to empower employees to capture coveted roles. These types of personalized plans create more engaged employees who feel as though their organization is committed to their success.
Trend #2: Facebook, not LinkedIn, is the number one social media tool used for job searches
Forty-two percent of respondents use social networking sites to search for jobs. Contrary to popular belief, Facebook, not LinkedIn, is the most widely used social media tool for searching for a new job (70 percent vs. 49 percent, respectively). Therefore, employers who maximize the benefits of Facebook as a talent acquisition platform can potentially strengthen their online recruitment strategies.
Trend #3: A strong work/life balance is the leading factor for employee retention
When asked what factor would encourage them to stay at their current companies, 48 percent of respondents selected work/life balance as the primary motivator, followed by competitive salary (34 percent). This data shows nearly half of employees place high value on having time and relationships outside of the office. Consequently, if that balance does not exist, employees may be more likely to pursue other employment elsewhere.
Trend #4: More than any other generation, millennials are likely to look for a new opportunity if they do not feel engaged in their current positions
Millennials scored 10 percentage points higher (34 percent) than the average (24 percent) when asked if lack of interest in their current jobs was a factor when considering changing jobs.
According to Jim Link, Chief HR Officer, Randstad North America, employers currently have a huge opportunity to strengthen their retention strategies by implementing more structured, personalized career paths for employees and especially for millennials. “Transparent communication about how employees’ contributions impact their career opportunities is especially important to millennials, because these individuals clearly want to know they are contributing to the company’s bottom line and core business goals. A little attention spent on defining career growth can go a long way for employers who want to keep their best talent on board for the longer term.”
For more information about the Randstad Employer Branding survey and how to engage and retain current talent, visit our Randstad Awards page
About Randstad US
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.9 billion global provider of HR services. As the third largest staffing organization in the United States, Randstad provides temporary, temporary-to-hire and permanent placement services each week to over 100,000 people through its network of more than 900 branches and client-dedicated locations. Employing over 5,300 recruiting experts, the company is a top provider of outsourcing, staffing, consulting and projects and workforce solutions within the areas of Engineering, Finance and Accounting, Healthcare, Human Resources, IT, Legal, Manufacturing & Logistics, Office & Administration, Pharma and Sales & Marketing.
Learn more at www.randstadusa.com and access Randstad’s panoramic U.S. thought leadership knowledge center through its Workforce360 site that offers valuable insight into the latest economic indicators and HR trends shaping the world of work.
Randstad’s Employer Branding survey is based on perceived attractiveness of companies among 10,878 potential employees between the ages of 18 and 65. Interviews were conducted online by ICMA Group on behalf of Randstad between September and December 2014. Samples are based on national demographics with a slight emphasis on respondents aged below 40, as those most likely to be in the job market are the target audience of the survey. Each sample is representative of age, region, gender and education. Respondents are invited by means of online interviews to select the companies they know from a random list; each company is set to appear approximately 1,400 times at random during the entire survey. The margin of error on a sample of 1400 is plus or minus 1.245 percentage points at the 95 percent level of confidence. This means that there is a 95% chance that the responses of the target population as a whole would fall somewhere between 1.245% more or 1.245% less than the responses of the sample.