Compelling Trends
Competition is keen for skilled employees at all levels, and is not totally dependant on the economy. It’s not about hiring the best and brightest, it’ about hiring for “fit”.
Demographics are driving competition, and will have a greater impact in the near future.
- A 33% shortfall in college graduates is expected.
- Those eligible to retire will increase by 54%.
- Those between 25 and 34 will decrease by 8.8% over traditional levels in that age group.
The cost of turnover ranges from .75% to 1.5% of an employee’s annual salary and benefits.
Employees today have different expectations from their work lives than past generations. They are likely to leave their employer if their work values are not being met.
There is considerable push for productivity and performance improvement in most organizations today. High performing organizations will no longer employ individuals who aren't adding the level of value needed from everyone.