More Talent Management Facts #20

Statistics are like bikinis.  What they reveal is suggestive, but what they conceal is vital. 

Aaron Levenstein

Another addition of leadership and talent management “facts” from all over the world.  Some intuitive and some not….what do you think?

1. In the latest APA Stress in America survey, 69% of employees are satisfied with their employer but only 44% are satisfied with opportunities for career growth and 46% reported being satisfied with the recognition practices of their employer.

2. For the past 6 years the American Psychological Association (APA) has been measuring aspects of psychologically healthy workplaces.  Here are some U.S. averages from 2011: Employee turnover (38%), Employees reporting chronic stress (36%), Employees intending to seek employment elsewhere (32%), Employees who would recommend their company to others as a “good place to work” (53%) and Overall employee satisfaction (69%).

3. The International Coach Federation (ICF) 2010 “Global Consumer Awareness Study” conducted in over 20 countries found that awareness of coaching was varied (only 20% in Germany to 92% in South Africa).  Of those who were coached, 83% reported high levels of satisfaction.

4. In the 2011 Blessing White “Employee Engagement Report“, only 31% of all employees reported feeling engaged at work and 17% considered themselves actively disengaged. Trust was higher of immediate managers versus senior managers–72% of North American respondents trust their managers compared to 52% who trust senior leaders.

5. In a recent online survey of 320 executives by the Institute for Executive Development and Alexel, 27% of the external hires had left the company they started with.  The number one reason given for the departure was lack of interpersonal/social competence (75%), structural problems/inconsistencies within the organization (28%), goal conflict between the executive and organization (23%) and poor assignment (23%). 

6. A study by Deloitte Consulting LLP, titled “Talent Edge 2020: Building the Recovery Together — What Talent Expects and How Leaders Are Responding,” found that not only are 65 percent of the employees surveyed actively testing the job market, but that “dissatisfied employees are transparent” with their executives and managers about “the most effective employee retention strategies” their companies could utilize to keep them.

7.  In the same Deloitte study mentioned above, when asked to list their top three retention incentives, 53 percent of respondents ranked promotion/job advancement first, followed by increased compensation (39 percent), and additional bonuses or other financial incentives (34 percent). Another 30 percent of those surveyed listed boosting employee support/recognition from their managers, a non-financial incentive, as an effective retention tactic.

8. Employee burnout is one of the top issues for Canadian employers. According to research by talent and career-management firm Right Management, which surveyed more than 3,000, executives across Canada, 54 per cent of executives cited employee morale and burnout as their biggest business concern. Executive responses: 1). Employee morale and burnout: 54 per cent; 2) Risk of losing top talent: 51 per cent; 3) Not having the skills required: 31 per cent; 4) Lack of high potential leaders in the organization: 31 per cent; 5) Redeploying key talent: 25 per cent; 6) Ability to attract new talent: 25 per cent; and 7) Loss of intellectual capital due to recent downsizing 10 per cent.

9. Results from the 2011 State of Talent Management Survey that was conducted in March by the New Talent Management Network suggest the major finding: To make talent management successful, it’s all about active support by senior management and the CEO.

10.  A new research study by SBR Consulting found that 70 percent of Millennials say there is a possibility they will change jobs once the economy improves but despite the current economy 70 percent are positive about their future in general.  Only 9 percent reported they plan to open a business within the next 5 years even though 37 percent say they do not trust big businesses.

11. Professor David Finegold and Senior Research Scientist Susan Mohrman, at the Center for Effective Organizations at the University of Southern California, presented a paper in the Spring of 2001 at the World Economic Forum in Switzerland entitled: What Do Employees Really Want? The Perception vs. The Reality.  The four most important things were: 1) A clear and compelling strategy; 2)  An innovative environment low in bureaucracy; 3) Challenging work assignments that enable employees to grow their capabilities; and 4) Rewards based, in part, on how well the organization performs.

12. One third of employees believe they are overqualified for their current job according to a study commissioned by recruitment agency Randstad and conducted for them by Ipsos Public Affairs. At the same time, 38 percent reported their hard and soft skills perfectly developed for their role.

13. A new study by consulting firm McKinsey shows that 30 percent of U.S. employers are likely to drop health care benefits. Another done by Towers Watson and the National Business Group, that said that a bit less than four in 10 employers were confident they’d be able to offer health care benefits. That’s a sharp decrease from 2007 when nearly 3/4 of employers said they were confident they’d be able to offer health care benefits.

14. The HR software firm formerly known as StepStone Solutions: In the U.S., only 37 percent of men and 24 percent of women enjoy going to work every day.  In the survey, more men (73 percent) than women (59 percent) reported being confident their company will reward them for extra effort or taking on extra responsibilities.

Back to research some new talent development facts….Be well….

Ken Nowack

Kenneth Nowack, Ph.D. is a licensed psychologist (PSY13758) and President & Chief Research Officer/Co-Founder of Envisia Learning, is a member of the Consortium for Research on Emotional Intelligence in Organizations. Ken also serves as the Associate Editor of Consulting Psychology Journal: Practice and Research. His recent book Clueless: Coaching People Who Just Don’t Get It is available for free for a limited time by signing up for free blog updates (Learn more at our website)