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A new report entitled 'Inspiring Talent 2011' published by Lumesse, the provider of talent management solutions, (previously StepStone Solutions) reveals that despite employee happiness at work 29% of workers expect to leave their companies within five years. Four out of five employees also felt that their skills were not fully utilised, while almost half reported that their performance appraisal process was of little or no value.
Based on a survey of almost 4,000 employees in larger companies in 14 countries, including the US, UK, Germany and China, the report examines employee attitudes to their jobs and employers, in areas such as loyalty, job satisfaction, workplace pride, training opportunities and salary perceptions.
Lumesse CEO, Matthew Parker, commented "some consistent messages come out of this free report regardless of age, gender and geographical location. It's clear that many people feel their skills are not used as well as they could be, and that many employers are not using effective performance appraisal techniques to help people contribute more. For many people the solution is going to be a move to a new job. That's a pity because overall the survey shows good levels of workplace pride and satisfaction. If employers can combine that happiness with better career management then the benefits are obvious, better retention, better performance, and higher productivity."
The risk of talent loss is particularly affecting two critical sectors of the workforce according to the findings. Nearly half (46%) of 18 to 25 year olds are already planning to leave their jobs. Similarly, half of the most experienced staff also expect to head for the door within five years. Employers spend significant time and money in recruiting and training talented young employees, and in retaining experienced staff, yet the survey shows they have to work harder to understand these individuals' career expectations.
Respondents cited a lack of opportunities to use their skills as reasons not to commit long-term to an employer. 81% of workers believe that their skills and talent aren't being used by their current employer. Another key aspect of talent management explored within the report is staff appraisals. The research showed that almost half (49%) of employees considered their appraisal to be of little or no value. However, employees worldwide still feel proud of where they work. The report found that a majority of workers (69%) are proud to tell other people whom they work for.