Staff whose reliance on wages and benefits has overtaken their career ambitions are costing employers millions of pounds in lost productivity time or redundancy packages, researchers have warned.
A survey of just under 200 HR directors, by the Rialto Consultancy, reveals that 22% of employees are so-called ‘stags’ – ie, stagnating in their jobs.
This is a trend most often found with long-standing employees, who are no longer motivated or inspired to work hard, Rialto said.
As a result, stags find it easier to sit tight, often blocking the career ladder so that younger staff are forced to progress their careers elsewhere.
Organisations with stagnation problems find it difficult to retain young, highly motivated employees and to remain competitive in the marketplace.
Rialto said employers should work with their staff to identify the changes needed to re-inspire and remotivate them before drastic actions are made.
“Stagnation is already endemic, but it is set to become an increasing problem in the future with the rapidly aging workforce,” said Richard Chiumento, chief executive of Rialto.
“By 2006, there will be more 55-64 year olds than 16-24 year olds in the population, presenting a serious problem if the same conditions continue.”