Recruiting, Talent

Employee Confidence in the Economy Fuels Job Search

Data shows employees’ confidence in business conditions reached a seven-year high in 4Q 2017, as well as an increase in the percentage of employees looking for positions outside their organization.

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The findings, from CEB, now Gartner, a leading research and advisory company, are based on Global Talent Monitor data, drawn from the larger Gartner Global Labor Market Survey which is made up of more than 22,000 employees in 40 countries. The survey is conducted quarterly and is reflective of market conditions during the quarter preceding publication.
Research finds that employee confidence in the business confidence index reached 54.9 in 4Q 2017, up from a score of 53 in 4Q 2016.
Not surprising, with confidence rising, employees are looking more at other opportunities. According to the data, 33 percent of employees worldwide intend to stay with their organization, down 1.3 percent from 3Q 2017.

Global Challenges

Job-seeking activity was the highest in India, with an active/passive score (the measure to which employees are inclined to and demonstrate efforts to look for a new job) of 65 in 4Q 2017, a 5.7 percent increase from 3Q 2017, and up 1.4 percent year over year. Other notable results include Brazil job-seeking behavior at 52.6, up 1.7 percent from 3Q 17 and 10.7 percent year over year; and UK job-seeking activity at 43.4, up 5.3 percent year over year.
Interestingly, the United States registered a score of 36.9, down 5.3 percent year over year.
“To prevent top talent from looking elsewhere for new work, organizations must improve their internal job perceptions,” said Brian Kropp, HR practice leader at Gartner. “Push career opportunities to employees based on tier interests and aspirations, and target passive internal candidates by building opportunities before they become dissatisfied and look elsewhere.”

Drop in Discretionary Effort

Employee discretionary effort (employee willingness to go above and beyond the call of duty), was reported by 15.8 percent of employees, a record low for Global Talent Monitor. North America experienced the sharpest decline in employee discretionary effort, dropping 3.1 percent from 3Q 2017.
“Organizations need to better understand the motivations and morale of their employees, which can be gauged by purposefully collecting feedback from the staff. Increase the effort of employees who plan to remain in their positions by effectively responding to their critical feedback in engagement surveys,” said Kropp.