A serious talent shortage looms in the U.S., and a new comprehensive study indicates that many employers aren’t taking the steps necessary to retain and attract employees.
The recent Emerging Workforce Study, conducted by Harris Interactive on behalf of Spherion Corporation, reveals a troubling gap between employers and employees on critical workplace issues. For the first time, the study was expanded to include data from employers, allowing Spherion to provide a more complete picture of the employment landscape.
Some of the major findings of the study include the fact that 60 percent of workers rate time and flexibility as very important factors in retention, but only 35 percent of employers feel the same. Additionally, 49 percent of employers rate financial compensation as a very important driver of retention, while 69 percent of workers believe it is.
“There’s no doubt that talent will be a defining success factor for companies in the years to come,” said Roy Krause, Spherion president and chief executive officer. “Our latest Study sheds light on how differently employers and employees view workplace issues, and it is imperative that organizations understand these disconnects and make adjustments to their leadership styles and HR policies.”
Furthermore, many companies either don’t have or don’t plan to implement work/life balance programs-a hot button issue for employees. Of the companies surveyed, 61 percent stated they don’t plan to offer job sharing, 56 percent don’t plan to offer telecommuting and 33 percent don’t plan to offer flextime.
There is a small percentage of organizations that have realized such disconnects and are distinguishing themselves as employers of choice. These emergent employers not only offer work/life balance and training programs, but have the management style and workforce structure that helps them attract and retain the most talented workers. Studies have also shown that implementing such HR best practices will result in better financial performance and company growth.
“We applaud innovative efforts of emergent organizations such as Nationwide and Ernst and Young. These organizations are clearly in a class of their own and are putting themselves in a position to truly succeed in the upcoming battle for talent,” Krause added.