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THE MOOD OF THE GLOBAL LABOR MARKET THE COST OF A DEPARTING WORKER DRIVERS OF CHANGE 6 4 Only 31% of workers are committed to their current employer, a sharp decline from 2012 (43%). COMMITMENT Only 29% say they feel loyal to their employers, largely steady from 2011. LOYALTY Experts estimate that a departing worker can cost between 30%–150% of a worker’s annual compensation package to replace them. The cost is even greater when factoring the intangible components such as lost knowledge and disruption to co-workers and customers. While financial benefits top the list, employers would be mistaken to focus only on salary/compensation. The most attractive companies offer more than competitive pay and benefits. They offer opportunities for skill development and a clear pathway for career advancement. (Excluding salary and financial incentives) Only 35% believe they have the opportunity to advance their career with their current employer. OPPORTUNITY TO DEVELOP NEW SKILLS Only 38% say their employers contribute to their sense of meaning, a sharp drop from 2012 (47%). SENSE OF MEANING TO STAY OR LEAVE? Nearly half (47%) of contented workers devote time to scanning the job market looking for better job opportunities. More than half (60%) intend to look for a new job with another company within the next year. 30 % critical factors that contribute to a worker considering leaving their job critical factors that contribute to a worker choosing one job over another 150 % 60% Salary and financial benefits 41% Lack of opportunity for advancement 33% Staff morale 36% Work–life balance 26% Stress 28% Current management 64% Work–life balance 58% Training or development programs 28% More meaningful work MORE THAN MONEY AND PROMOTION THE IDEAL WORK ENVIRONMENT GLOBALLY, WORKERS ARE WILLING TO GIVE UP HIGHER PAY AND CAREER ADVANCEMENT FOR: 57% Opportunity to learn new skills 57% Highly collaborative environment 52% Improved work–life balance 54% Flexible work arrangements 36% Flexible work schedule 44% Exposure to the latest technologies and top-notch equipment 29% Opportunity to perform socially conscious work 39% Culture of innovation and creativity 4 ideal features that workers want incorporated into their work life kellyservices.com/kgwi Companies attuned to the voice of talent and their preferences will be better equipped to make more meaningful connections as they seek to achieve their business goals in 2015 and beyond. Download the full report 62% Opportunity of advancement THE ANNUAL KELLY GLOBAL WORKFORCE INDEX ™
