History tells us that employee turnover goes up when recessions turn to recoveries, and early data says that trend will continue in 2010. Finnegan Mackenzie, our sister company, conducted a study with ExecuNet on executive retention and found a clear and alarming pattern…that executives who are highly engaged are also eager to leave. The study found that while more than 90% of executives are engaged in their jobs, more than 70% would take a recruiter’s call. In fact, more than half are already looking and nearly 90% said they would accept or strongly consider an opportunity that was better for them in the next 30 days.
“Myopia” best describes these executives’ perceptions of their teams. The numbers for the next level down are similar to those reported above, yet CEOs believe the percent below them who are looking now is far below the actual count.
This data challenges the long-held belief that engaged employees will stay. Consider how your executives view their ability to retain key players as more jobs become available? Might you need to provide retention solutions now before you incur a 6- or 7-figure loss to get top management’s attention?
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