Staring In the Crystal Ball: Trends and Forecasts for Hiring, Compensation, and Retention

Thanks to interbiznet.com, I located an interesting report on hiring, compensation, and retention trends and forecasts.

Based on a survey by Robert Half of some 1,450 workers, including 600 hiring managers, from a variety of industries, we get some answers to interesting questions, such as:

1. Are companies concerned about retention of employees?

2. How are firms trying to improve retention?

3. What % of employees say they are looking for a new job?

4. What % of employees say the job market is challenging?

5. What % of employees say their pay is increased from last year?

6. What % of hiring managers say their starting pay has remained the same or decreased in the past year?

Answers follow next:

1. Are companies concerned about retention of employees?

Not really; 77% of respondents indicated that their company had not instituted policies or practices to increase retention.

2. How are firms trying to improve retention?

Those companies traying to improve retention have given salary increases or flexible work schedules.

3. What % of employees say they are looking for a new job?

28% say they are looking for a new job; 48% say it is likely they will leave their company in the next 3 years.

4. What % of employees say the job market is challenging?

55% said it was tough to find a new job a year ago, and 42% say it is even more difficult today.

5. What % of employees say their pay is increased from last year?

43%. 40% reported no change.