Only 30% of employees feel that they have a
future career in their workplace
Employers invest Iess in retaining women in the workplace than they do in men: less financial compensation and less professional prospects
The survey, performed by the GeoCartographia Institute for Synerion Systems, shows:
- 35% of employees feel that their workplace invests in their retention through professional development.
- 38% of employees feel that their workplace invests in their retention through financial compensation. Proportionately, more employees in the public sector are compensated by professional development.
- The rate of compensation through financial rewards is higher among employees in the private sector.
- High-tech and biotech companies lead in employee retention, both through financial rewards and professional prospects.
Does the Israeli worker feel that there is a future career for him at his work place? It turns out that only 30% of employees feel that they have a professional future in their workplace. The rate is especially low among women and adults aged 55 and older.
These are just some of the findings in a survey carried out by the GeoCartographia Institute for Synerion Systems, a company specializing in providing advanced software solutions for managing employee time and attendance and the management of human capital.
The survey was conducted during the third week of February 2013 among 479 respondents, men and women, aged 18 and over, that make up a national sample from among the general Jewish population in Israel.
The survey was designed to examine Israeli workers’ perceptions regarding their employers’ retention efforts and encouragement to stay in their workplace.
Only 35% of employees feel that their workplace invests in their retention through professional development.
Only 38% of employees feel that their workplace invests in their retention through financial compensation. The rate is especially low among women where only 29% feel that they are encouraged to remain in the organization through financial reward, as compared to 46% among men.
The percentage compensated through professional development is especially higher among public sector employees, where there are regulations of wages and financial rewards, and stands at 45% of employees.
The percentage compensated by financial rewards, on the other hand, is higher among employees in the private sector and stands at 44%. This rate is particularly high among employees in the high-tech and biotech industries standing at 72% of employees. It is much lower among employees in the services sector, where only 30% feel that their employers invest in their retention through financial means. The rate is particularly low at in the education sector standing at only 12%.
Nevertheless, the majority of employees, a rate of 68%, still feel that they are encouraged to continue working in their workplace. This feeling is relatively prominent among employees in the high-tech and biotech sectors, with a percentage of 82%. However, the data indicates that despite the general feeling among the majority of employees that they are encouraged to continue in their workplace, only a very small percentage are actually compensated in the form of financial rewards or professional development.
Gil Yuval, CEO of Synerion Systems says that "the sentiments of the workers reveal that many employers are not doing enough to retain them in the workplace. An employee, who feels that his workplace is not investing in his development or compensation, feels less engaged.
Managers know that acquiring a new customer is more expensive than preserving an existing one. The same is true in the case of unplanned turnover. The investment in recruiting and training a new employee to replace one that has left is high, not least of which is the disruption of organization's workflow during the transition period.
Furthermore, every organization must designate the employees who contribute the most to its operations and achievement of its current and future goals.
To ensure the retention of such employees, organizations should employ the policy of “Talent Management”: Planning their career and personal development,
compensation and professional training that will keep them in the organization and train them as successors.
Such investment is a win-win for both employee and employer."