AchieveNEXT 2022 Compensation Study

Turnover

Incentives to Reduce Employee Turnover

Incentives to Reduce Employee Turnover

0.4628571 43

0.5371428 57

46%

54%

0.4628571 43

0.5371428 57

Yes No

In this environment nearly half the middle market feels at sea, tossed and buffeted by a talent storm with and without the capabilities, processes, or partners to help them to shore. Yes No

Attracting vs. Retaining

There are meaningful differences between the difficulty of finding talent and keeping it, and also significant differences depending on an employee’s position. Most media attention has focused on hiring problems—but retention is in many respects a thornier problem. Understanding these differences is the key to finding solutions. Across the board, middle market and emerging enterprises say that finding talent is somewhat or very difficult, whether the position being filled is a senior executive or an hourly employee. The media is giving lots of attention to the scarcity of hourly workers, e.g. in hospitality and retail, but they are not where the problem is most acute. Specialist and technical workers are the hardest to find; over 40%, middle market leaders, two in five, say that finding these expert workers is very difficult, and only 3% say it is easy. While 32% say that finding top executives is very hard, a substantial number—48%—say it is easy or somewhat easy. Combining the “somewhat difficult” and “very difficult” numbers reveals that technical and specialist workers are the scarcest—79% say they are hard to attract—followed by experienced workers (69%) and middle managers (67%). Since these are the people who are toughest to find, these are the people whom it is most important to keep.

2021-2022 Mid-Market Talent Acquisition, Executive Compensation and Culture Study — Powered by Insperity I 13

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