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Employee Retention Failures Revealed

By Don Reisinger on 2011-10-11


Aside from worrying about information security, technology decision-making, and the plethora of other challenges you face on a daily basis, as CIO you also need to think seriously about how you will hold onto your best employees. There's a premium on certain tech skills in today's job markets, so you need to have a strategy in place to keep your best workers, plus a plan so that you won't be caught off-guard when they bolt for a better offer. A study from staffing company Express Employment Professionals sheds some light on how clueless many leaders are about employee retention. The organization surveyed 18,000 of its current and former executive clients in North America. Here are 10 highlights from the report:

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Big issues
According to the Express Employment Professionals survey, firms across North America are struggling with three main issues:
1.Connecting with employees;
2.Conducting effective performance reviews; and
3.Understanding shifting generational values.

Job hoppers
The Express Employment Professionals study cites a recent CareerBuilder survey which found that 91 percent of employees say they are at least willing to change jobs.

Blindsided
The CareerBuilder survey cited found that 55 percent of company leaders are not expecting employees to leave when they do.

Oblivious
More than three quarters (77 percent) of respondents in the Express Employment Professionals survey say that employee retention isn’t a problem in their companies.

Low satisfaction
Yet Express Employment Professionals finds that "less than half of Americans" are actually satisfied with their jobs. The result is a “major miscommunication” between employers and employees, the company says.

What do workers want?
79 percent of respondents to the Express Employment Professionals survey say that more than half of their employees want to be “rewarded” in their positions.

Show me the money
68 percent of respondents believe over half of their employees are looking for more pay.

Failure to act
Only 17 percent of respondents say their companies have “reinstated previous pay levels or raises.”

Admit you have a problem
What should employers do? The first step, according to Express Employment Professionals, is for business leaders to recognize that “they have a retention problem.”

Start at the top
Next, says Express Employment Professionals, is to install a “strong leader” who sees the trouble and acts upon it to reduce retention problems.

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