More Americans are quitting their jobs

WASHINGTON (AP) — More Americans are quitting their jobs, suggesting many are growing more confident in the job market.

The Labor Department said Tuesday that the number of people who quit their jobs in April jumped 7.2 percent to 2.25 million. That's just below February's level, which was the highest in 4 ½ years.
Overall hiring also picked up in April, though not as dramatically. Employers filled 4.4 million jobs in April, a 5 percent increase from March. Hiring fell in March and April's level was below February's.
The report offered a reminder that the job market is far from healthy. The number of available jobs slipped fell 3 percent to a seasonally adjusted 3.75 million. Openings had reached a five-year high in February and remain nearly 7 percent higher than a year ago.
Still, the growth in hiring and quits provides more evidence of a dynamic job market that is making slow but steady strides. It follows Friday's May employment report, which showed the economy added a net 175,000 net jobs last month. That's roughly in line with the average monthly gain over the past two years.
Most workers quit their jobs when they have a new position or feel confident that they can find one quickly. And when they do, it opens up more opportunities for other Americans, including the unemployed.
Janet Yellen, vice chair of the Federal Reserve, has said the Fed is monitoring data on quits and overall hiring for signs that the job market is improving in a sustainable way.
The Fed says it will continue its ambitious program of bond purchases until employment improves substantially.
The report, known as the Job Openings and Labor Turnover survey, provides the total number of people hired and laid off each month. It's different from the department's monthly jobs report, which provides each month's net job gain or loss and the unemployment rate. By quantifying total hiring and layoffs, the JOLTS report paints a fuller picture of what employers are doing.
For example, for the past two years net job gains have averaged about 180,000 per month. But much that gain reflects a decline in layoffs, rather than more overall hiring.
Layoffs fell to the lowest level on records dating back to 2001 in January. They have since increased slightly but are still below pre-recession levels.
Fed officials and economists want to see overall hiring pick up because it would indicate businesses are confident enough to add more workers.
Despite April's increases, overall hiring and quits are still below pre-recession figures. Total hiring topped 5 million in most months before the recession began in December 2007. That's 14 percent higher than April's level.
Monthly quits were typically around 2.8 million before the recession. That's 24 percent higher than April.
The job market remains very competitive for those looking for work. There were 3.1 unemployed workers, on average, for each open job in April. In a healthy economy, the ratio is 2 to 1.
The drop in openings suggests that job gains may not pick up from their current modest pace in the coming months.
Openings have risen much faster than total hiring since June 2009, when the recession ended. The number of available jobs has increased 58 percent since then, but total hiring has increased only 22 percent.
That's a sign companies are slow to fill the jobs they have posted. Many employers have become more selective and cautious about hiring since the recession. Some may not be offering enough pay to attract the candidates they need. Other companies, particularly in information technology and manufacturing, say they can't find enough qualified workers.

Adapted from Yahoo

Britam Job Openings

Job Openings at Britam:

• Business Development Manager, Education Sector
• Business Development Manager, Church Sector
• Manager - Microinsurance Operations
• Accounts Assistant (Britam - Uganda) Qualification: University degree, Professional qualification (ACCA or CPA).
• Assistant Fund Accountant
• Business Development Officer (South Sudan Office)
  
  

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Staff Training and Development; a sure way to Retain Staff

 

You better read this if you are an employer or a manager who wants to retain your staff, by now all of you should know that 22% of employees part ways with their employer in the first 45 days of employment, according to a study by Wynhurst group. Yes that is absolutely true, it only takes 45 days for a new employer to make a conclusion if she/he is going to work out well and achieve their dream in your organization. First impressions my learned friend, first impressions always matter.

Shocking statistics

According to Right Management, a HR consulting firm, it costs nearly three times an employee’s salary to replace someone making employee turnover extremely costly. Here are a few other statistics by Life Work Solutions, a provider of staff retention and consulting services.

• Over 50 % of people recruited in to an organization will leave within 2 years.
• One in four of new hires will leave within 6 months.
• Nearly 70% of organizations report that staff turnover has a negative financial impact due to the cost of recruiting, hiring, and training a replacement employee and the overtime work of current employees that’s required until the organization can fill the vacant position.
• Nearly 70 % of organizations report having difficulties in replacing staff.
• Approximately 50% of organizations experience regular problems with employee retention.

What really happens?

When a new employee joins an organization, they find themselves in unfamiliar territories, a new culture and system with different people. How the organization receives them, orients them and empowers them with new skills to fit in and blend with the whole crew is a matter of high importance. 

Blending training

It is also important to blend employee development with their line of study. For example, having studied Human Resources back in campus, I joined an insurance firm for my first employment; and  had to sell insurance and do many things I had no knowledge about. Although I learned many new things, I didn’t really have passion in insurance, and that’s why I was always busy browsing the web  for new job opportunities in my line of study; a matter that really affected my performance hence my resignation. I don’t regret that move whatsoever.

In-house Training programmes

In-house training is key in every organization. Updating the skills of your employees ensures that you improve organizational performance. These programmes may include Customer service, Change management, performance management, Leadership, Coaching and mentoring among many others. Organizations have credited their HR departments with the task of identifying training needs and recommending much needed programmes to address deficiencies within the organization. For example, a major training programme that has received attention in the Kenyan industry is the Devolution and Governance programme to equip state officers with skills on managing County governments. Labour law training has also been key following the repeal of the old labour laws to pave way for the Kenya Labour laws 2007.  These include indepth training on

• Employment Act 2007, 
• Labour Institutions Act 2007, 
•  Labour Relations Act 2007, 
• Work Injury and Benefits Act 2007, (WIBA) 
• Occupational Health and Safety Act 2007. (OSHA)

Such training keep staffs abreast with new skills and happenings that affect their sector and profession. Most of these trainings are short term and may take a few days while some like coaching and mentoring programmes may take upto a year or even longer to achieve desired results.

Employee satisfaction

Another aspect in training employee satisfaction. When I started second job just after campus, my employer was not keen on training me. I checked with my colleagues with who we started working at the same time. Their employers were really good. One of them working for a blue chip consulting firm had his post graduate degree paid for by the firm, the other had her diploma in French paid for by her firm which was in the airline sector. I felt left behind; my friends were having their dreams come true while I had not even gone through a single in house development programme that year. I quit.

Some of avenues used by firms nowadays to retain staff include education support, cross-training where employees learn several job functions, family support programmes among other monetary and financial benefits.

Training as a team building strategy

Team building is a sure way to keep your staff together and focused on achieving targets. Training has always incorporated aspects like developing groups across departments.  Every employee wants to work in an environment where they are wanted and feel appreciated. Abraham Maslow was never wrong in his hierarchy of needs theory. You sure need friends to move to the next level. Training involving staff from different departments creates a bond and a kind of belonging that no employee wants to leave. 

By: HRM Guide Correspondent