With attrition levels being on the rise across job categories and companies, most employers are at a loss to stop the churn. The fallout of this for organizations includes increasing recruitment costs and loss of revenue as well as adverse effects on organizational stability.
What are the reasons behind employees opting for shorter tenures and how long are they sticking with their organizations on an average? Wisdomjobs.com recently carried out a survey of private sector employees which found that more than 80% of the respondents have had tenures of less than 5 years with their current employers. This is in sharp contrast to a decade ago when nearly 25% of employees had tenures of 10 years or more.
The key findings from the survey were:
Average tenures
- 65% of the respondents had a current tenure between 2 and 5 years
- Of them, 17% of had been with their current companies for less than 2 years
- On the other hand, only 12% of those surveyed have served more than 10 years with a single organization
Reasons for shorter tenures
- More than 50% of those surveyed say that their shorter tenures are a result of them seeking more senior roles
- 24% said that it was due to lack of visible growth in their current roles
- 18% attributed it to their desire to learn a new skill, which they felt was not a possibility in their earlier roles
- 10% said their shorter tenures are due to unsatisfactory appraisals and the need for higher remuneration
- Above sectorial analysis shows that the trend of short tenures is the highest in the IT sector at 45%, followed by the BPO sector at 38%, ITes sector at 33%, and theRecruitment sector at 28%, the main reasons being target-oriented roles and higher stress levels
About Wisdom Jobs
Wisdomjobs.com (part of Wisdom IT Services India Pvt. Ltd.) is a unique 4th generation job portal that helps job seekers and employers to find each other quickly and efficiently.
Started in Hyderabad by Ajay Kolla - a young technopreneur – in 2010, Wisdomjobs.com is a 230 strong company with a turnover of INR 32 Crore. The company has grown exponentially in the last 3 years with an average turnover growth of 200% since 2013.
With a database of nearly 30 million, over 13 million of whom are skill-tested and rated through our proprietary tool (Pragnya Meter), we make it extremely easy for recruiters to identify the right candidate to be interviewed, in much lesser time.
Wisdom Jobs enables job seekers to showcase their competency through skill scores, and employers to carry out online screening and assessments for shortlisted candidates before meeting them for personal interviews. An ISO 9001:2008 certified company with a clientele numbering 3500+, Wisdom Jobs is the first and only job portal to offer a voice broadcasting facility (VConnect,) to enable employers to effectively reach and engage job seekers.
Courtesy by www.businesswire.com
