An authoritative new report says voluntary employee turnover continues to fall. Assuming you’re satisfied with most of your employees, that’s good news, right?
Maybe, but here’s the other shoe: The departure rate among the best employees is going up. Uh, oh.
The report, from PwC Saratoga, an arm of the big accounting firm, says that in 2010, 4.3% of high performers at 300+ selected U.S. companies left for greener pastures. That was up from 3.9% in 2009, flying in the face of the overall voluntary turnover trend, which fell again in 2010 to 7% – from 10.4% in 2007 and 7.3% in 2009.
Headed for the door
The implication is clear: The people you most want to keep are more likely than ever to be headed for the door. To fight back, HR may want to review not only compensation levels, but also how well your organization is doing at the things that top employees value, such as career development/training and work-life balance.
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