The Authors and Experts

Workshop Statistics

From the authors of Love ’Em or Lose ’Em: Getting Good People to Stay, Beverly Kaye and Sharon Jordan-Evans (SOURCES OF STATS INCLUDED)

Love ‘Em or Lose ‘Em: ½ Day Workshop Statistics and Resources

From Talent in the Spotlight

There are not enough good workers to go around.

Shortages in the labor force are expected as soon as 2006. (US Bureau of Labor Statistics)
Researchers at the Bureau of Labor Statistics tell us that we will have a three to six million worker deficit within the next decade. A one million shortage is expected in Canada by 2020. (Conference Board of Canada)
One-half of U.S. workers and one-third of Canada’s population will be eligible to retire in the next decade. (Conference Board of Canada)
There are currently 77 million baby boomers in the workplace and only 44 million Gen X’ers to replace the boomers once they start retiring. (Bureau of Labor Statistics)
The problem extends well beyond North America with 61 countries experiencing lower than replacement level fertility. (U.S. Department of Census)

Workers’ attitudes and expectations have shifted—permanently.

Today employees will show loyalty to an employer if it is earned. (Bain Survey, Walker Loyalty Report 2003)
If work is not challenging, meaningful, and focused on growth and development, they won’t stay. (Career Systems, What Kept You Survey; Spherion, Mercer, Hay)
They want a great boss – often leaving a company for no other reason than their boss is a jerk. (Saratoga Institute – 80% turnover related to unsatisfactory relationships with the boss)

Employment options are always available for the best and brightest.

Employees are leaving the conventional workplace to become freelancers, independent contractors, part- or full-time temps or consultants.
26% of today’s workforce are temporary or contract workers, with that number expected to grow to a startling 41% by 2010. (Trends emagazine, 2004)

Finding a job has seldom been easier.

Workers across all levels, functions, and industries can launch aggressive and successful internet job searches during the work day—with 9 to 5 being the most popular log-on time for job-search web sites. (Electronic Recruiting Exchange)

The cost of losing talent is high.

Experts across the board agree that the cost of replacing talented workers can easily average two times their annual salary, not including the indirect costs of knowledge lost (or gained by the new employer) and the effect on customer satisfaction. (Towers Perrin, Conference Board, Saratoga, Mercer, Star Tribune, et al.)
What about the loss of engagement? Engaged employees generate 33% higher profits, operate at 50% higher productivity, and score 56% higher in customer loyalty. (Gallup)
The disengaged workforce is costing the U.S. economy more than $300 billion a year (that’s 11% of your payroll costs). (Gallup)
The stock prices of companies with high morale (70%+ higher average employee satisfaction) outperformed stock of other companies by 2.5 to 1 (Siroto Consulting Study, 2004)

In any economy, talent is the key differentiator.

Today, 60% of all jobs require the skills that only 20% of today’s knowledge workers possess. (Towers Perrin) Organizations with the best talent will win.