What sort of strategies can a company undertake to retain the good employees it currently has?
Approximately 70 percent of employers have not instituted any retention programs in the last year, which is down only slightly from 77 percent from last year. With the changing work force and impending retirement of the baby boomer generation, the task of attracting and retaining qualified employees won’t be easy for employers. Implementing a program is vital. Hiring managers say the most common measures they are taking to retain employees are offering salary increases, bonuses and flexible work schedules. While most employees won’t jump ship over a modest amount of money, nobody wants to feel undervalued. Firms need to examine prevailing wages for professionals in their regions and make sure their compensation doesn’t come up short. Salary guides, such as those published by Robert Half International, are a good source of information. Now is an excellent time for managers to reach out to key players and find out how they feel about their jobs, and what types of things might increase th
