Yahoo! HotJobs Finds Almost One Half of U.S. Employees Surveyed Are or Will Be Looking for New Employment in the Next 12 Months
Survey Reveals Top Reasons Why Employees Plan to Leave Their Jobs
NEW YORK--(BUSINESS WIRE)--June 28, 2004--
Yahoo! HotJobs (Nasdaq: YHOO), the most visited career site in May 2004 (1), recently conducted a survey that reveals U.S. workers are not completely satisfied with their current employers. According to the survey results (2), nearly one half of the survey's respondents already are or plan to look for new employment in the next 12 months.
Compounded with the coming labor shortage, the survey results indicate that employers will need to pay closer attention to their workforce needs to prevent losing qualified and valuable employees and to attract the best candidates. More than one-third of survey respondents said they would "absolutely not" or "possibly not" recommend their employer to others.
As the U.S. economy continues to improve, the top priority for employees is a satisfactory salary. According to the survey results, of those who are looking for new employment the number one reason is a better salary. The second most popular reason is the lack of potential career growth.
"As the job market continues to grow, employers should be aware that the much discussed coming labor shortage could significantly impact their business," said Dan Finnigan, executive vice president and general manager of Yahoo! HotJobs. "Not only will it continue to be a challenge for employers to find the best and the right talent, but it will be even more challenging to keep current talent as companies across the nation start opening their doors -- with more attractive salary and benefits packages."
The availability of a good benefits package topped the list of reasons why employees who are not looking for new employment would stay with their current employer. The second and third reasons are flexible work schedules and convenient commutes, respectively - indicating that a work-life balance is still important for employees.
"Employers need to take the time to evaluate their working environment to address employee engagement and retention," said Libby Sartain, senior vice president of human resources and chief people Yahoo! for Yahoo! Inc. "Employees are looking for meaningful work, and they want to advance their careers; however, they want to enjoy a balanced life at the same time."
About Yahoo! HotJobs
As a leader in the online recruiting industry, Yahoo! HotJobs (www.hotjobs.com) has revolutionized the way people manage their careers and the way companies hire talent. Yahoo! HotJobs' tools and advice put job seekers in control of their careers and make it easier and more cost-effective for employers and staffing firms to find qualified candidates. In addition to its popular consumer job board, Yahoo! HotJobs provides employers, recruiters, and staffing agencies with progressive recruiting solutions and hiring management software. Job seekers voted Yahoo! HotJobs.com the (2002, 2003) "Best General Purpose Job Board for Job Seekers," and recruiters voted Yahoo! HotJobs the (2003) "Most Recruiter-Friendly General Purpose Site" in a survey conducted by WEDDLE's.
(1) Media Metrix, May 2004
(2) Survey of 2,646 U.S. part- and full-time employees
SOURCE: Yahoo! HotJobs
Contacts
Yahoo! HotJobs
Lauren Meller, 646-351-4505
Lmeller@hotjobs.com
or
Fleishman-Hillard for Yahoo! HotJobs
Maire Griffin, 212-453-2140
griffinm@fleishman.com
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