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Survey: Young employees likely to jump ship with economic recovery

As the economy rebounds, the most serious consequence to employers—including small businesses—may be employeeFull body isolated portrait of young business man turnover. According to a survey by staffing firm Adecco Group, more than half (54%) of employed adults report they are at least somewhat likely to look for new jobs once the economy turns around.

Among all employed adults, the age group most likely to seek new jobs is the Y generation (18 to 29 year olds), with 71% indicating they will be job-shopping. The online survey tapped opinions of 2,274 employed adults, aged 18 and older.

The survey also showed that 9% of these young employed adults are currently willing to accept a pay cut to keep their jobs, compared to about 22% of baby boomers and 22% of generation X adults.

“These findings should be an eye-opener for employers who are so focused on cost containment that they are losing focus on retention,” says Bernadette Kenny, chief career officer of Adecco Group North America. “In good times companies focus on how to keep their best and brightest talent, and this becomes more important in bad times. Younger generation Y employees bring a lot of new ideas and skills to the table; they are a generation who likes to be challenged; and if they lose this at their current job are not afraid to seek it elsewhere.”

The staffing firm offers the tips to retain top talent:

• Focus on mentorship. Research has found mentors and mentees feel more connected and loyal to their organization than employees not involved in mentor programs. The investment of time in mentorship will deliver strong results in employee engagement. A formal program is not needed; simply taking steps to make sure leadership is connecting one-on-one with workers with high potential will prove beneficial.

• Highlight small, but important, wins. Take time to recognize your company’s good news. Highlight successes in collaboration, business wins and innovation. Increasing communication in times of uncertainty is important overall and increasing communication of small victories will go far in improving employee morale.

• Support career development. Many star employees switch jobs because they feel they have “outgrown” their position. Companies should encourage top-performing junior employees and middle managers by providing opportunities to share their knowledge via training sessions, presentations, mentoring and team assignments. When employees feel their career development and unique skills are desired and respected in their workplace, they are more likely to stick around.

• Consider providing flexible work opportunities. Providing your employees with flexible work arrangements such as ability to work from home one day or work consolidated four-day workdays can increase productivity and reduce absenteeism, and can result in cost savings to the company

Source: Adecco, www.adeccousa.com


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