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Top Reasons for Employee Turnover

June 27, 2011

A recent survey produced by SHRM and CareerJournal.com, the
free, executive career site of The Wall Street Journal, two of my personal
favorite sites. The survey results include responses from 451 HR professionals
and 300 managerial or executive employees.

“We’re surprised by the percentage of executive
employees who say they plan to jump ship once hiring rebounds,” says Tony
Lee, editor in chief/general manager of CareerJournal.com. “And with 56
percent of HR professionals agreeing that turnover will rise, we’re interested
to see what types of retention efforts those companies launch to keep their
best employees on board.”

Employees cited the following three top reasons they would
begin searching for a new job:

•53 percent seek
better compensation and benefits.

•35 percent cited
dissatisfaction with potential career development.

•32 percent said they
were ready for a new experience.

HR professionals were asked which programs or policies they
use currently to help retain employees. The following three are the most common
programs employers are using to retain employees:

•62 percent provide
tuition reimbursement.

•60 percent offer
competitive vacation and holiday benefits.

•59 percent offer
competitive salaries.

Most HR professionals surveyed (71 percent), in large
organizations (those with more than 500 employees), thought it would be
extremely likely or somewhat likely to experience an increase in voluntary
turnover once the job market improves. Forty-one percent from small
organizations (1-99 employees) said it was extremely likely or somewhat likely
that turnover would increase. Fifty-three percent of respondents from medium
organizations (between 100 and 499) thought the same.

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