While facing the recent recession, the threat of employee turnover seemed low due to a rigid labor market. During that time, however, employee engagement levels dropped. Today, as employees see signs of recovery, they increasingly plan to leave their positions suggesting a looming employee-retention problem and a talent exodus that could have long-term impact on corporate performance. In fact, Corporate Executive Board's Corporate Leadership Council conducted research that finds less than one quarter of employees (23 percent) exhibited a high level of "intent to stay," a leading measure of turnover, in the second quarter of 2010.
The extensive employee engagement study also found that the employees most committed to their organizations put forth 57 percent more effort and are 87 percent less likely to leave their company than employees who consider themselves disengaged. It should be no surprise then that employee engagement, or lack thereof, is a critical factor in an organization's overall financial success.