June 9 2010 - U.S. organizations risk losing employees who feel under-valued and de-motivated as the economy recovers according to an on-line survey conducted by Kelton Research on behalf of learning and talent management solutions provider Cornerstone OnDemand.
This reflects increased pressure in the workplace resulting from factors such as budget and staff cuts. The study indicates that loyalty cannot be bought. The report identifies alternative solutions to improving retention based on improved communication and empowering performance.
The study surveyed 584 working Americans of whom 56 per cent agreed that, after compensation and benefits, feeling that they were appreciated would motivate them to stay in their current position. More women than men identified this as a significant factor (62 per cent compared to 50 per cent). This compares to 46 per cent of the total who said opportunities for career advancement would motivate them to stay. Just over half (54 per cent) felt that colleagues appreciated them more than supervisors or senior managers.
Other significant findings include:
- 68 per cent said they had received no useful feedback from supervisors in the last six months
- 82 per cent have not agreed career goals with their supervisors
- 53 per cent lack a clear understanding of how their role contributes to company objectives
- 25 per cent have been given new duties or responsibilities that they feel are beyond their skill set
Adam Miller, president and CEO of Cornerstone OnDemand said:
"American workers simply want to be empowered to do a good job and be recognized for their contributions. If companies don't clearly communicate how employees can contribute to organizational goals and provide adequate training and performance feedback, they risk losing their best people as the economy improves. This kind of turnover is costly and can dull a company's competitive edge."