EFCG 2022 CEO Conference Highlight Series:
Recruitment and Retention Trends
This year’s EFCG CEO Survey showed that 90% of AEC firms struggle with recruitment and retention. What is your firm doing to adapt?
4 Reasons 90% of AEC Firms Struggle With Recruitment & Retention
1. Talent Has the Bargaining Power
Employees continue to hold most of the “bargaining power” in this tight labor market.
2. Talent Controls Turnover
While voluntary turnover increased in 2022 to ~13%, involuntary turnover continued to drop to just ~2.5%.
3. The Grass is Actually Greener
Employees tend to leave to work for competitors, in search of higher salaries, with compensation increases 2-3X greater than historic norms.
4. External Pressures Consume Decisions
Firms are debating how to adjust for rising inflation and the intensified war for talent.
For more information, contact Julie at jhasiba@efcg.com.
Join EFCG’s Compensation Forum from October 25-26 in Florida to learn what other firms are doing and develop your own way forward to stay competitive. Virtual and in-person options are available. To register, email dmilionis@efcg.com.
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