Employers should plan for employee turnover in 2014

Companies looking to expand their workforces in 2014 should anticipate one major hurdle: with the economy in recovery, some of their current staff could look for new opportunities elsewhere.

In fact, some of that movement may already be happening, according to the Bureau of Labor Statistics’s December and January job reports. These numbers showed lower-than-expected job growth but a lower unemployment rate. Wall Street Journal reporter Neil Shah explains that this is due to the fact that Americans who have stopped job searching altogether are no longer considered unemployed.

Some of these aspiring Americans would be launching their own businesses or taking some sort of hiatus — regardless, the number of people who are doing this are under the healthy “quits rate” of 2 percent. The quits rate is determined by the number of people who quit their jobs in comparison to overall employment, it is currently about 1.7 percent.

Employees who are planning to leave the company’s doors are looking for more flexibility in 2014. About 31 percent of respondents told ILM that this was their top priority, as well as the need to feel valued at work. Human resources departments can increase transparency on company policies among staff members through the use of HR software.

In the meantime, companies that are looking to prepare themselves for the inevitable turnover can utilize HR software solutions to find resumes and applications worth looking into.

Doing this in advance can save HR professionals time and expedite the onboarding process. Organizations that offer a great work-life balance environment are likely going to grab the attention of job seekers, according to the Institute of Leadership and Management.

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