It is becoming apparent that, if the labor market should ever expand, companies will have a problem retaining good employees. The poor economy has served up the necessity for some companies to be lean. But, in other instances, it has served up excuses like "people are cheap" - an attitude that good talent is on sale. Yet, corporate profits are not largely in the tank. It's just that job growth is occurring outside the United States. Time reports:
In the globalized labor market, companies are now using their profits to invest sparingly in high-skilled jobs in the U.S., which offers a better return on their investment, while sourcing more lower-skilled labor from abroad. Those investments still contribute to U.S. growth, but they don't do much for U.S. jobs." Read more...
Mercer's What's Working survey indicates that U.S. workers are unhappy.
Half of all US employees are Read more.not happy...Nearly one in three (32%) US workers is seriously considering leaving his or her organization at the present time, up sharply from 23% in 2005. Meanwhile, another 21% are not looking to leave but view their employers unfavorably and have rock-bottom scores on key measures of engagement, a term that describes a combination of an employee’s loyalty, commitment and motivation...
In fact, some talent movement is already occurring when and where employees find it possible. FINs reports:
For the first time since 2007, more people are quitting their jobs. In the first four months of this year, 6.9 million U.S. workers voluntarily left their positions, a slight increase over last year, according todata I crunched from the Bureau of Labor Statistics...The problem seems to be pay. Only 53% of those surveyed were satisfied with their base pay, down from 58% in 2005. Read more.
Thus, look for some major movement of talent when the economy rebounds and workers seek better opportunities.