Employee Attrition At Record High
There's a stampede for the exits and its going to hit your contact database - hard
ADP released their 2017 Workforce Vitality Report this week and it's sobering reading for Marketers trying to maintain a clean and current prospect database.
You can access the report here but these are the highlights:
63% of an employer's workforce is open to leaving for another job
46% of employees would consider a job that matched current salary or paid less
13% raise in pay would prompt someone to change jobs
47% of employees have walked away from a job that did not meet their expectations
27% of people change jobs annually, putting job switching at an all-time high
These are of course HR statistics but their implications for marketers cannot be understated. Put simply, about 1/4 of all employees will change jobs this year alone and up to 2/3 if the employees follow through their intent in the first bullet.
It's always been a challenge to maintain current contact data for marketing campaigns but the strengthening job market is going to make contact volatility worse.
So how can Marketers stay on top of these inevitable data changes. Here's a few suggestions
Segment your database and do a batch clean & re-verify of your statistically most important prospects (past customers, MQL's, high nurture activity scores etc.) every 6-12 months. Digital Persona has a service that can help you with this.
You can also implement our DataPERSONA service which does an initial clean of your contact DB and then does daily updates to verify new data added and existing data that might have changed. We typically scan our contact database every 3 months using a deep web scan algorithm to flag contacts that might have moved company and queue them for re-verification and updating.