FINDERS KEEPERS: Robert Half Survey Reveals Retention Is Executives' Main
MENLO PARK, Calif., April 9, 2013
MENLOPARK, Calif., April 9, 2013 /PRNewswire/ --As difficult as it has
become to locate top performers, keeping them on board is proving to be an
even greater worry for employers, a recent Robert Half survey shows. Nearly
four in 10 (38 percent) chief financial officers (CFOs) interviewed said
retaining valuable employees is their biggest staffing concern for the next 12
months. Twenty-seven percent of respondents said their top focus will be
maintaining employee productivity.
The survey was developed by Robert Half, the world's first and largest
specialized staffing firm, and conducted by an independent research firm. It
is based on interviews with more than 2,100 CFOs from a stratified random
sample of companies in more than 20 of the largest U.S. markets.
CFOs were asked, "Which one of the following is your greatest staffing concern
in the next 12 months?" Their responses:
Retaining valuable staff members 38%
Maintaining staff productivity 27%
Recruiting new top performers 13%
Improving staff morale and engagement 13%
Don't know/no answer 9%
"Though general unemployment levels remain high, professionals with
specialized skills have more opportunities available to them, which has led to
talent shortages in some areas and made replacing valuable employees even more
difficult," said Paul McDonald, Robert Half senior executive director.
"Employers will need to pull out all the stops to retain their best and
brightest, including ensuring compensation is competitive and top performers
know there's a career path available to them with the company."
Following are five tips for retaining key employees:
1. Maintain an open-door policy. Employees should feel comfortable voicing
ideas and concerns. Unhappiness with their managers is one reason many people
leave their jobs. Building strong working relationships with your team should
be a priority.
2. Promote from within. Your staff will grow discouraged if they feel
advancement opportunities aren't available. Meet with employees to review
their career paths and discuss how they can move up in the organization.
3. Provide competitive compensation. While money isn't everything, it is
important. Make sure employees' salaries and benefits are at or slightly above
the market rates.
4. Recognize outstanding work. Whether it's a story in the company newsletter
or a spot bonus, actions and achievements that warrant special acknowledgment
should be rewarded promptly. The recognition doesn't need to be expensive.
Saying "thank you" and praising individuals in front of their peers are
5. Offer professional development opportunities. Training programs help people
expand their skills and boost productivity. You'll also gain versatility in
McDonald notes companies are often inclined to rely on counteroffers to avoid
losing key players. He advises hiring managers to instead focus on improving
aspects of the work environment contributing to turnover.
"Counteroffers rarely fix the underlying reasons a professional decides to
leave the company, such as a lack of challenge or a desire for advancement,"
McDonald said. "An employee's resignation can be used by the organization as
an opportunity to make improvements benefiting its remaining staff."
About the Survey
The national study was developed by Robert Half. It was conducted by an
independent research firm and is based on more than 2,100 telephone interviews
with CFOs from a random sample of U.S. companies with 20 or more employees in
more than 20 of the largest U.S. markets. For the study to be statistically
representative and ensure companies from all segments are included, the sample
was stratified by number of employees. The results were then weighted to
reflect the proper proportion of employees within each market.
About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized
staffing firm. The Menlo Park, Calif.-based company has staffing locations
worldwide and offers online job search services on its divisional websites,
all of which can be accessed at www.roberthalf.com. Follow Robert Half on
Twitter at twitter.com/roberthalf, and gain insights on the latest financial
hiring and salary trends at www.roberthalf.com/salarycenter.
SOURCE Robert Half
Contact: Michael Weiss, (650) 234-6383, firstname.lastname@example.org
Press spacebar to pause and continue. Press esc to stop.