LINCOLNSHIRE, Ill. — As the economy continues to improve and job opportunities increase, companies are faced with the challenge of keeping their top talent from jumping ship. A new survey by Hewitt Associates, a global human resources outsourcing and consulting company, shows that most U.S. organizations are increasingly focusing on career development as a way to retain and attract talent. However, most admit that their current career development programs aren't effective in meeting the needs of the company or their employees.

In March and April 2010, Hewitt surveyed human resources professionals at 193 large employers to learn more about their current and future career development practices. According to the findings, more than three-quarters (77 percent) say that career development is more important to them than it was five years ago. Additionally, an overwhelming majority (89 percent) say that career opportunities are one of the most important drivers of engagement and retention. More than half (55 percent) of companies think that both career development and pay—as a rewards strategy—are equally important to employees in today's economic environment.

"A year ago, many employers relaxed a bit and felt secure that their top talent would stay at the company because job prospects elsewhere were so bleak," said Mollie Kohn, principal in the Talent and HR Solutions Consulting practice at Hewitt Associates. "But now, with signs of economic recovery, organizations are realizing they need to work hard—and quickly—to limit churn among their most critical talent. Focusing on career development is a low-cost option that can have an enormous impact on workers' engagement and retention."

Satisfaction with Career Development
While companies realize the importance of career development programs, few are pleased with how these programs are handled within their organization. Nearly two-thirds of employers (64 percent) don't believe they fully comprehend career development and are not satisfied with their programs.

Not surprisingly, companies also sense that workers are not pleased with the current opportunities they're offered. Most (85 percent) report that workers perceive their companies as having "some" or "limited" available career opportunities. Additionally, more than half (56 percent) of companies say that career development tools are not easily accessible to workers.

"Companies recognize that neither they, nor their employees are satisfied with their current career development programs," explained Kohn. "Now is the time—before the job market really heats up—for them to reevaluate these programs to better meet employees' needs and build their own talent capabilities to excel during the recovery period."

About Hewitt Associates

Hewitt Associates (NYSE: HEW) provides leading organizations around the world with expert human resources consulting and outsourcing solutions to help them anticipate and solve their most complex benefits, talent, and related financial challenges. Hewitt works with companies to design, implement, communicate, and administer a wide range of human resources, retirement, investment management, health care, compensation, and talent management strategies. With a history of exceptional client service since 1940, Hewitt has offices in more than 30 countries and employs approximately 23,000 associates who are helping make the world a better place to work. For more information, please visitwww.hewitt.com.

Maurissa Kanter

,  Hewitt Associates,  (847) 883-1000

MacKenzie Lucas

,  Hewitt Associates,  (847) 883-1000