Compensation Resources, Inc. Releases Its 2006 Turnover Survey

Upper Saddle River, N.J. - May 25, 2006 -organizations.
Compensation Resources, Inc. has released the resultsIt is interesting to note that the survey identified a shift
of its 2006 Turnover Survey. The purpose of thisin the motivators noted by employees for leaving the
study was to obtain turnover statistics and trendsorganization. While better pay and benefits were noted
from a broad range of industries and company sizes.as the top reason for leaving an employer in 2004, it
Data was collected in April and May 2006, and washas been replaced with the desire for better
compiled from survey questions that were developedopportunities and increased responsibilities in the 2006
by CRI and distributed to companies in over 12study. More and more, employees are seeking to
industrial classifications, representing publicly-traded,improve their abilities and be recognized for their work,
privately-held, and not-for-profit organizations.and are no longer solely motivated by pay alone.
Results indicated that for the twelve-month periodCompanies put into effect many programs to alleviate
ending March 31, 2006, the average voluntary turnoverturnover concerns. Among survey responses, 55%
rate was 14.3%. Overall, respondents indicated this ratereported implementing enhanced communication with
has either increased (39%) or remained the sameemployees, followed by improved recruitment and
(36%) as compared to the prior 12-month period. Onlyselection process (17%) and updated job descriptions
25% of participants indicated the voluntary turnover(17%). Open communication with employees,
rate has decreased. Since the turnover studyparticularly in the areas of job coaching and
completed in 2004, results indicate that both voluntaryperformance improvement, assist managers and
turnover and overall turnover have slightly increased inemployers in creating a positive environment for
2006. Respondents within privately-held companiesfeedback, encourages improved and increased
reported higher voluntary turnover rates thanperformance, and often leads to increased job
publicly-traded companies and not-for-profitsatisfaction.