--- title: Lack of effective talent management could cost companies in skilled labor description: Worker confidence is up and many people are considering changing jobs this year. A recent survey by Cornerstone OnDemand suggests employers aren't investing enough in training and engaging their workf --- [Skip to content](https://blog.innovativeemployeesolutions.com/ies-blog-nb-24/blog/lack-of-effective-talent-management-could-cost-companies-in-skilled-labor#main-content) [![IES Logo_Full-ColorNavy](https://blog.innovativeemployeesolutions.com/hs-fs/hubfs/IES%20Logo_Full-ColorNavy.png?width=300&height=140&name=IES%20Logo_Full-ColorNavy.png)](https://www.innovativeemployeesolutions.com/) - [Innovative Employee Solutions Blog](https://blog.innovativeemployeesolutions.com) - [Innovative Employee Solutions Blog](https://blog.innovativeemployeesolutions.com) [mailto:?subject=Check%20out%20https://blog.innovativeemployeesolutions.com/ies-blog-nb-24/blog/lack-of-effective-talent-management-could-cost-companies-in-skilled-labor](mailto:?subject=Check%20out%20https://blog.innovativeemployeesolutions.com/ies-blog-nb-24/blog/lack-of-effective-talent-management-could-cost-companies-in-skilled-labor) January 21, 2013 # Lack of effective talent management could cost companies in skilled labor Written by: [Innovative Employee Solutions](https://blog.innovativeemployeesolutions.com/ies-blog-nb-24/author/innovativeemployeesolutions) Worker confidence is up and many people are considering changing jobs this year. A recent survey by Cornerstone OnDemand suggests [employers aren't investing enough](http://www.cornerstoneondemand.com/news/press-releases/cornerstone-ondemand-survey-reveals-dramatic-skills-gap-within-american) in training and engaging their workforce, which could lead them to losing valuable talent. More than 19 million Americans are planning to change jobs this year, according to the [HR administration](http://innovativeemployeesolutions.com/wp/hr-administration/) software provider. The average cost to recruit and train one employee is estimated at 2.5 times the worker's salary. U.S. businesses could therefore face $2 trillion in potential employee turnover. One of the major reasons employees consider leaving their current job is the lack of training and development they receive. Less than one-third of U.S. employees surveyed were given the tools necessary to better perform their job and only one-quarter established personal career goals with their managers. In addition, 66 percent reported not receiving useful feedback. "[Most employees want to do a good job](http://www.workforce.com/article/20130116/NEWS01/130119958/going-somewhere-millions-of-workers-getting-antsy), but many \[...\] aren't getting the training they need to improve or to build a sustainable career," Jason Corsello, Cornerstone's vice president of corporate strategy and marketing, told Workforce magazine. "If individuals don't get what they need, eventually they could wind up leaving." 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