TAILIEUCHUNG - What Do Today's Employees Want?

• An entrepreneurial environment • Strong skill development opportunities • High visibility in the organization • Career mentoring - more discretion in job creation • Work/life balance • Flexibility | Guide to Retaining Employees What Do Today s Employees Want 1 Back to Menu Employees Want An entrepreneurial environment Strong skill development opportunities High visibility in the organization Career mentoring - more discretion in job creation Work life balance Flexibility Competitive compensation and benefits Recognition for their unique contribution A piece of the action Employers Want A just-in-time workforce Creativity with speed High productivity and morale Retention and motivation of the best and the brightest Pay only for performance A low promise of job security Adaptability to change Protection of employer intellectual cap Managers What Turnover Costs Very Hot Skills Non-Exe mpt Indiv dual Contributors and Middle Management Senior Management Hot Skills Multiple of Salary Replacemnt Cost Why Do They Leave Confirmation Phase PwC s research data show that the highest percentage of turnover occurs in the first 12 to 18 months of employment. Key reasons include poor job-skill fit disillusionment with the company work duties supervisors or coworkers. Consolidation Phase Voluntary turnover in the 24 to 36 month period is often due to poor skill utilization unrewarding incentives and recognition poor work life balance disillusionment with the company image and leadership and perceived lack of growth. Highperformance employees particularly value strong leadership performance and business results development of hot skill and competitive reward and incentives. Revitalization Phase Career stagnation and lack of job fulfillment often drive voluntary turnover after the 48th month. This is of particular concern for high tech companies where there is often minimal career growth opportunity available beyond one s technical career track. A common complaint of high-tech engineers is that there is not much career challenge or excitement to look forward to once they have mastered their jobs. 1 A New Century s Mandate HR Advisory by Tom Casey Boston Massachusetts Ardeshir .

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