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Employee Retention. Carol Trostle Trostle & Associates, LTD PTMA San Antonio February 15, 2007. 1. 1. Today’s Agenda. Unemployment – What do we know? Texas employment and job growth San Antonio labor market Reasons for attrition The cost of replacement
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Employee Retention • Carol TrostleTrostle & Associates, LTD • PTMA San AntonioFebruary 15, 2007 1 1
Today’s Agenda • Unemployment – What do we know? • Texas employment and job growth • San Antonio labor market • Reasons for attrition • The cost of replacement • Q & A from the audience - Panelists: • Tom Frausto – KCI USA • Dana Gonyer – FiServ/Benefit Planners • Kaari Swope – Clarke American 2 2
What Do We Know? * • 75 % of employees are looking for new jobs • Non management employees are most likely to resign • 73 % of HR Professionals are concerned about voluntary resignations • 50 % said they have implemented retention processes *From the 2006 U.S. Job Retention Poll released by the Society for Human Resource Management (SHRM) employees & HR professionals 3 3
Texas Unemployment* • Unemployment rate is at a 5 year low at 4.5% • Job growth in Texas • 15,600 jobs added during December of 2006 • 213,200 jobs added during 2006 • Texas has added jobs for 27 consecutive months • Unemployment compensation claims down 4.8% from one year ago to 56,501 *Texas Workforce Commission’s monthly labor force report December 2006 4 4
San Antonio Labor Market Statistics* • Civilian Labor Force – 929,600 • 894,800 are employed • SA Unemployment Rates • December 2006 3.7 • December 2005 4.3 • *Texas Workforce Press Release – January 23, 2007 5 5
Why People Leave* • Career opportunity • Lack of effective leadership • Work environment • Salary and benefits • Increased job duties to reduce cost *Trostle survey 70+ companies and years of experience 6 6
Challenges and Best PracticesToday’s Panel • Tom Frausto – KCI • Dana Gonyer – Fiserv/Benefits • Kaari Swope – Clarke American 8 8
