| Upper Saddle River, N.J. - May 25, 2006 - | | | | organizations. |
| Compensation Resources, Inc. has released the results | | | | It is interesting to note that the survey identified a shift |
| of its 2006 Turnover Survey. The purpose of this | | | | in the motivators noted by employees for leaving the |
| study was to obtain turnover statistics and trends | | | | organization. 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 was | | | | has been replaced with the desire for better |
| compiled from survey questions that were developed | | | | opportunities and increased responsibilities in the 2006 |
| by CRI and distributed to companies in over 12 | | | | study. 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 period | | | | Companies put into effect many programs to alleviate |
| ending March 31, 2006, the average voluntary turnover | | | | turnover concerns. Among survey responses, 55% |
| rate was 14.3%. Overall, respondents indicated this rate | | | | reported implementing enhanced communication with |
| has either increased (39%) or remained the same | | | | employees, followed by improved recruitment and |
| (36%) as compared to the prior 12-month period. Only | | | | selection process (17%) and updated job descriptions |
| 25% of participants indicated the voluntary turnover | | | | (17%). Open communication with employees, |
| rate has decreased. Since the turnover study | | | | particularly in the areas of job coaching and |
| completed in 2004, results indicate that both voluntary | | | | performance improvement, assist managers and |
| turnover and overall turnover have slightly increased in | | | | employers in creating a positive environment for |
| 2006. Respondents within privately-held companies | | | | feedback, encourages improved and increased |
| reported higher voluntary turnover rates than | | | | performance, and often leads to increased job |
| publicly-traded companies and not-for-profit | | | | satisfaction. |