Talent Turnover is Increasing - What Are You Doing to Stop It?

Well it is beginning, the talent turnover cycle again. Why, because there are more opportunities out there today than there has been in the past three(3) years for talented and highly skilled individuals. The voluntary turnover rate from 2010 to 2011 increased from 7% to 8.2% according to Pwc Saratoga reports.  What that means is there has been a latent urge for top performers to leave their current companies. 


I would guess based on the report that you will see an increase from 2011 to 2012 as well and my projection is 9.0%. So what will you need to do in the meantime you ask?

• check on your employee engagement
• do a internal survey to really get the pulse of the population
• invest in training and development
• don't over engineer your performance management system. Make it simple and employee friendly
• review your spot bonus and incentive awards programs
• make sure you are challenging your Millennials and Gen Y population
• make employee more visible and connected to the business

I hope these ideas and your current practices get a fresh review and since it is close to 2013 budget time make sure you plan for these and other employee programs that engage your talent pool.