In a recent survey, nearly three-quarters of business executives and HR professionals "strongly" or "very strongly" agreed that talent management is a strategic priority for their company. Yet only 57 percent of those companies have implemented formal plans to identify, grow, and retain talent.
HR must find ways to retain talented employees while increasing employee productivity at the same time, and a company's managers play a powerful role in achieving both of those goals, said David L. Morris of CLC Solutions during the 5th Annual NY HR Week.
There is no magic formula for employee retention. However, there are some things every organization can do to help keep employees happy and increase the chances they'll be around for the long haul.
Competitive benefits are a way of ensuring that your workforce is content, keeping turnover down and making recruiting easier. Managing the programs is, of course, the main focus of your benefits team. However, there is one more benefits arena in which you need to stay competitive, and that is when it's time to cut back your workforce.
