Kansas City, Kan. – The competition for top performers is heating up as 97.6 percent of organizations are actively recruiting, according to the newly-released results from the Compensation Data 2007 - Georgia survey of 173 employers. Voluntary turnover is at 12.2 percent for all industries in the state, while total turnover is 20.3 percent.
In Georgia, voluntary and total turnover rates were highest in healthcare and the financial services industry at 18.7 and 29.9 percent, respectively. Total turnover in health care was 23.2 percent, which was above average. Utilities had the lowest voluntary and total turnover rates, 4.3 percent and 5.6.
Georgia companies look to a variety of methods in recruiting new employees. When advertising positions, the Compensation Data 2007 - Georgia results showed 86.2 percent place ads on the Internet, which has increased by 16 percent since 2005. Newspaper advertising remains high at 70.1 percent, and job fairs are used by 57.5 percent of companies. Employee referral programs are another method used for recruiting by 58.1 percent of companies. Also, some organizations, 18 percent, target their search by advertising with trade or professional associations.
"Concerned with the decreasing talent pool, many HR professionals are working to find new ways to attract and retain the best individuals for the position," said Amy Kaminski, manager of marketing programs for Compdata Surveys, the nation’s leading compensation and benefits survey data provider. "Using a targeted approach and new sources can help organizations identify the appropriate pool of qualified job candidates."
Monetary incentives continue to be used in a variety of different forms across the state. Sign on bonuses are utilized by 35.9 percent of organizations. Another tactic for recruiting top employees is to offer increased starting rates. This is used by 19.2 percent of companies, and 9.6 percent offer more raises during the first year.
About the Survey
Compensation Data 2007 – Georgia contains data on 478 job titles ranging from entry-level to top executives. Information was collected on more than 206,000 employees across the state. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of March 1, 2007. Compdata Surveys has been providing accurate, reliable data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Lane Lyons Odle at (800) 300-9570 or lodle[at]compdatasurveys.com.
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