Dive Brief:
- Despite a stronger labor market, employees have mixed feelings about the condition of the global economy and are less likely to seek out new jobs, according to CEB, a best practice insight and technology company.
- The company's Global Talent Monitor for Q4 2015 indicates that fewer than one-in-four employees (23%) are actively searching for a job, and more than 40% plan to stay with their current employer for the next 12 months. However, those employees may not be working to their fullest potential at their current jobs.
- The upshot is that scenario is making it increasingly difficult for employers to find and convince candidates to make a move, and is giving employees more power in employment discussions, according to CEB.
Dive Insight:
Brian Kropp, HR practice leader, CEB, says the company saw a "shift in power" in Q4 from employer to employee. Employees see a more robust labor market, but they "aren't compelled to make a change." CEB noted that last quarter they saw a higher premium on stability than in the past, meaning employees would rather "bet on the devil they know" than gamble on something new.
While it may appear to employers that they don't need to worry as much about employees leaving, they need to remain focused on driving productivity across the workforce, Kropp added. This is especially true in North America, where employees are "more likely to stay in their seat, but less likely to go above and beyond on the job."
"Employers that want to convince candidates to work for them should effectively communicate their work-life benefits. This is now the number one thing employees consider when choosing between employers in most developed countries," Kropp added.