Q4 People Metrics

Shawnee Love   •  
March 12, 2010

4th quarter people metrics are being reported by the BC Human Resources Management Association (BCHRMA) and there are some interesting stories being told.

It seems revenue and profit per employee have gone up since 3rd quarter of 2009. What that usually means is we are either seeing a rebounding of sales or we have shrunk our employee team and thus fewer are doing more to generate the same sales.

Add in the fact that attendance rates are improving, and it becomes more likely that sales are rebounding because absenteeism usually skyrockets after layoffs in an organization.

Vacancy rates have gone down indicating that companies are finding employees to fill their roles. Stats Canada only reported a small decrease in the unemployment rate in Q4, which leads me to believe that of these employees being hired, a significant percentage are being lured away from other companies. This belief isn’t too far-fetched when you consider that BCHRMA also reported that 1st year resignation rates have gone up dramatically as have voluntary turnover rates. While star employees were always able to find new work, for Q4 of 2008 and most of 2009, employees have tried to stay where they were.

What I see in these Q4 stats is an increase in the willingness of employees to leave a known environment (and the security that known entity offers) for new opportunities. This stat is the canary in the coal mine for employers!

The returning confidence of employees means they are willing to listen to other companies (your competitor perhaps?) who approach them. Take heart though. There are a myriad of things you can do to enhance your ability to retain employees. Stay tuned over the coming weeks when I will be sharing great ideas for employee retention.