Report Reveals 80 Percent of Employees Plan to Stay with Current Employer in the Next Year
As high unemployment persists and the global economic recovery remains halting and uneven, the “resume tsunami” appears to have been reduced to a “resume riptide.” According to Deloitte’s new global talent survey, Talent 2020, four out of five (80 percent) employees plan to stay with their organizations over the next year, a significant increase from 2011 when nearly 65 percent were planning to leave. Forty-six percent of the survey respondents indicate they are less inclined to move because, in the last 12 months, they have changed jobs (9 percent), were promoted (22 percent), or have taken new positions (15 percent) with their current employers. Surprisingly, however, nearly one-third (31 percent) say they are not satisfied with their jobs.
Out of a false sense of security, companies may neglect their talent and retention strategies as more employees appear to be staying put. However, the Deloitte report warns that organizations’ top performers are also those with the most employment opportunities.
Deloitte teamed with Forbes Insights for its fourth report in the Talent 2020 series, surveying employees across major industries and global regions. Based on the results and Deloitte’s analysis of the talent market, Deloitte identified three emerging trends:
Engage employees with meaningful work or watch them walk out the door. Employees value meaningful work over other retention initiatives. A majority (42 percent) of respondents who have been seeking new employment believe their job does not make good use of their skills and abilities.
Focus on “turnover red zones.” Employee segments at high risk of departure, or “turnover red zones,” are employees with less than two years on the job and Millennial employees (those aged 31 and younger).
When it comes to retention, leadership matters. More than six in ten employees (62 percent) who plan to stay with their current employers report high levels of trust in corporate leadership.
Who is leaving and how do companies hold onto key employees?
Interestingly, the incentives to get employees to stay are not exactly the same as the factors that would cause them to leave.
According to the survey, the top five reasons people seek new employment are primarily non-financial:
Lack of career progress (27 percent)
New opportunities in the market (22 percent)
Dissatisfaction with manager or supervisor (22 percent)
Lack of challenge in the job (21 percent)
Lack of compensation increases (21 percent)
However, the top five retention incentives for employees are primarily financial:
Additional bonuses or financial incentives (44 percent)
Promotion/job advancement (42 percent)
Additional compensation (41 percent)
Flexible work arrangements (26 percent)
Support and recognition from supervisors or managers (25 percent).
Other factors such as trust in leadership, effective communication and a company’s ability to execute on its strategy can also differentiate between an employee who is committed to his or her current job or an employee who is searching for the next opportunity.
IDC Forecasts Worldwide IT Spending to Grow 6% in 2012, Despite Economic Uncertainty
New research from IDC shows Worldwide IT spending remains on course to grow 6% this year in constant currency, only slightly down on last year’s pace of 7% growth, in spite of continuing macroeconomic uncertainty. Strong performance in software, storage, enterprise network and mobile device markets has offset weaker trends in PCs, servers, peripherals and telecom provider equipment. However, the strength of the US dollar in the first half of 2012 means that IT spending in dollar terms is on course for growth of just 4% this year, a significant downturn for US-based tech vendors from the US dollar growth rate of 10.5% in 2011. Including telecom services, total ICT spending will increase by 5% this year in constant currency to $3.6 trillion (growth of 2.5% in US dollars).
Key trends in the Worldwide IT market so far in 2012 include:
US IT spending remains on course for weaker performance than 2011 with growth of 5.9% (down from 8.5% last year); the launch of Windows 8 in Q4 should help to drive a meaningful recovery in the PC market next year.
While Western Europe remains weak overall due to the slow economy, software growth in Northern Europe was robust, and mobile device shipments (smartphones and tablets) have remained on course; excluding mobile devices, however, Europe is on course for just 1% growth in constant currency (a -4.5% decline in US dollars)
The recovery in Japan has lost some momentum, with IT growth in constant currency now on course for an increase of just 2% this year before flat lining again in 2013
Growth in emerging markets is still relatively strong,; in China, where the manufacturing sector has been impacted by slowing exports to Europe, IT spending is now on course for 14% growth this year in constant currency (down from 25% growth in 2011), with PC spending on course for growth of just 7% after a weaker-than-expected first half (down from 19% growth in 2011)
Strong growth is still expected in India (14%), Brazil (14%), Russia (11%) and South Africa (8%)
Overall Worldwide IT spending is now expected to grow by 6% in 2013 to $2.1 trillion (ICT spending including telecom services will increase by 5% next year to $3.8 trillion)
Survey Reveals Voice Still Leads All Customer Communication Channels
Noble Systems Corporation, a provider of unified contact center technology solutions, announced the results of its latest survey, revealing that phone calls continue to represent the majority of customer service traffic. More than 70 percent of respondents from more than 500 North American contact center operations surveyed indicated that voice service is still the main channel of communications with their customers.
Featuring responses from 556 contact centers across North America, the survey aligns with recent research demonstrating consumers’ continued reliance on phone calls. For example, the American Express 2011 Global Customer Service Barometer found that more than 90 percent of U.S. consumers prefer to resolve their customer service issues using the telephone. Moreover, 70 percent of respondents to the Noble Systems survey went on to indicate that they expect telephone communications to remain the primary customer contact channel for the foreseeable future.
What does the CIO have to do to be viewed as a business person versus a technologist? There are many strategies that CIOs have followed that work. Janco Associates found some sure fired ways to have the CIO be a driver in the alignment of strategic business objectives with IT initiatives.
Look and be an executive – That not only includes speaking in business terms but all dressing and looking like the other executives. The key is to ensure the IT results are business focused and that both the CIO presents the big picture in terms of company strategy and ensuring IT and strategic business direction are aligned to it. It is much easier to do when the CIO looks and talks the part.
Have an opinion and present it – Do not go with what you think everyone wants. Be brave and present ideas that will help the business to expand and grow. If the CIO does not have an opinion what value are they in the executive suite?
Check the ego at the door – No one wants to hear how great the CIO is. It is much better if the other executives voice that and the CIO is humble in accepting praise.
Get out of the detail – The CIO has a staff and they are the ones who do the programming and analysis. CIOs need to focus on the big picture.
Manage by mingling outside of IT – Get out of the “ivory tower” of IT. Meet with other executives and operational staff frequently. Invest at least 50% of the day to deal with business issues and become a key member of the executive management team and sounding board for where the organization is going.
Stay within dollar and time budgets – CIO that are successful are the ones whose organizations deliver what they say, when they say it, and within budget. That adds to creditability and makes it easier the next time around.
Present a positive can do attitude – Focus on what can be done within what time frame. CIOs who say why something cannot happen often pushed aside by those how say what can be done. It is better to implement part of a concept than say why the grand solution cannot be implemented.
Management at the executive level is about selling and implementing ideas – It is not enough to present an idea, rather the CIO has to become a champion of an idea and transfer that role to the other executives in the organization.
Take ownership – Not only when something succeeds, but also when it fails accept the results. CIOs that come up with excuses and blame others do not last long in the executive suite.
Innovation leads to success – CIOs who embrace new approaches gain a lot of creditability. CIOs that hinder the use of new technologies are viewed as obstructionist and are bypassed in key decisions because they are viewed as some that the not accept change.
61% of Customer Experience Leaders Cite Customer Experience Management as Their Greatest Challenge
To better understand where the customer management market is headed, the Customer Management Exchange Network - a division of IQPC Exchange - examined the primary challenges facing Chief Customer Officers, VPs and Directors of Customer Experience from across the UK, US & Europe.
According to the research study, the greatest challenge is Customer Experience Management, with 61% of respondents stating it as a current area of focus within their organization. As businesses look to meet growing customer demands, robust and effective CEM strategies are pivotal to the success of these goals. By combining process excellence and CEM initiatives, an organization can successfully meet the needs of the individual customer, as well as business stakeholders.
Key challenges highlighted by the respondents include questions such as "How do we develop an effective customer experience framework?" and "How do we listen to customers voices and prioritize this to develop and enhance customer experience management?"
Cultural change & centricity has been one of the most widely debated topics in recent years, yet 50% of all respondents still highlight this area as one of their 3 greatest challenges. The most likely explanation cited by those interviewed is that it is not simply an issue of integrating cultural change; but rather all business units need to embrace the customer and align business strategies to move into a customer centric environment.