by Todd Harris October 21, 2010
Some interesting data points and observations that I’ve come across lately…
- In a survey of 1,198 CEO’s, PricewaterhouseCoopers found that 39% of companies will be adding jobs in the next 12 months, and 34% will keep headcount levels the same. As companies grow, expect to see talent acquisition (i.e. recruiting and hiring) take on added importance. Linking these activities to a company’s strategy will also continue to be key.
- The Bureau of Labor Statistics indicates that all across sectors, annual voluntary turnover is tracking at a bit over 20%.
- Skilled trades, sales representatives and nurses are expected to be the three hardest jobs to fill in the U.S. in the months ahead.
- Multiple surveys conclude that engagement and job satisfaction levels for most U.S. workers continue to decline. Averaged across multiple studies, approximately one-quarter to one-third of employees report that they are “actively disengaged” or something similar. Not good given that The Brookings Institution now reports that 90% of corporate assets are “intangible”, compared to 38% in 1982.
- A very interesting (and tongue-in-cheek) spin on succession planning on The Economist website: http://www.economist.com/blogs/schumpeter/2010/10/succession_planning
- A 2007 study by Zogby International, commissioned by the Workplace Bullying Institute, found that 37% of workers had been bullied at one time or another.
- The Human Capital Institute reports that less than 25% of the business leaders they have surveyed feel that they have adequate knowledge and insights about their people.
- The U.S. Department of Labor (DOL) estimates that it costs a company 370K to replace one employee with a base salary of 90K per year. This “replacement cost” number is much larger for: (1) top-performers, or (2) more senior positions.
- Companies with mature, integrated talent management processes have 26 percent higher revenue-per-employee than companies with no integrated processes (Bersin & Associates, 2009 Talent Management Factbook).
- The best and brightest will not work for sub-standard leaders. Bersin and Associates also reports that companies with strategic leadership development efforts have 62% less turnover among high-performers.
- The work of economist Laurie Bassi, Ph.D. (http://www.mcbassi.com/index.php) demonstrates that “training expenditure per employee” is a very effective predictor of year-vs.-year stock price. Said differently, training investments this year = stock price gains next year. More evidence of the financial impact of human capital management (HCM) processes.