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Management Focus Shifts to Retention as Fewer Applicants Crowd Job Market

Employees are reporting intentions to stay with their current employers for at

Unlike 2011, the nation's workforce has stanched the flow of job applications pouring into prospective employers' HR offices, according to the results of a recent survey from audit and accounting firm Deloitte.

The "Talent 2020" report sampled responses from workers in a variety of industries to determine whether they had plans to change jobs or stay in a current position. Last year, the percentage of workers who said they were getting ready for an employment change was 65 percent - in 2012, it dropped to 20 percent.

One reason for the massive shift in attitude is that roughly 9 percent of this year's respondents had, in fact, changed careers at some point during the last 12 months, making them less likely to move jobs again any time soon. Another 22 percent indicated they had received a raise or promotion, while 15 percent had taken a new position with their current employer.

With fewer workers casting about for new employment opportunities, those with executive jobs face a new human resources challenge, according to Bill Pelster, U.S. talent services co-leader with Deloitte.

"Companies must adjust their talent management initiatives to focus on retaining employees with the critical skills required to advance their business in today's turbulent marketplace, as they pose the biggest flight risk," he said.