Employee Resignation Up in 2012: Should Employers Be Worried?
A spate of new studies show that employee resignation is on the rise, which may indicate that workers aren't as worried about the recession as they were two years ago. MRINetwork polled its network of recruiters and found that 28 percent of January 2012's job openings were due to workers quitting — that's up 7 percent from July 2011. And at PayScale, we discovered that in 2011, the top reason for leaving a job was "seeking higher pay elsewhere"; conversely, in 2009, it was "poor performance." Do employers have cause for concern?
In short, possibly. "Companies are slow to accept that the market has turned to candidate-driven and their process is costing them quality candidates," read an open comment from the MRINetwork study. "The companies that move quickly are snapping up the talent."
Another comment read, "Clients want top-tier candidates at tier 3 compensation. Many clients also believe there are so many people unemployed that they can have their pick or don't need the services of a search firm."
The rising employee resignation numbers reveal a need for employers to pay closer attention to worker retention. It's no longer sufficient for managers to assume that employees are just happy to be employed. Do you plan to quit your job in the next few months? If so, what changes could your employer make to incentivize you to stay?
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(Photo credit: 2012 Compensation Practices Infographic/PayScale)