Careers Slideshow: Retaining Top Talent Challenges the EnterpriseBy Dennis McCafferty | Posted 06-27-2012
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Just 51% of survey participants are confident that their organization can retain key talent as the economy improves.
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83% agree that turnover of key talent is very expensive.
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56% say that retention of key talent has grown more difficult in recent months.
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56% expect a substantial number of key employees to search for better job opportunities as the economy rebounds.
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Only 16% of organizations focus retention efforts on key talent at all levels of the company.
Top Reasons Why Key Talent Leaves
as cited by survey respondentsâ¢ Opportunity to earn more elsewhere (32%)â¢ Lack of promotional opportunities (24%)â¢ Feelings that pay levels are unfair relative to others outside organization (21%)â¢ Heavy workload or work-life balance issues (19%)
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83% of organizations will pay key employees above the going market rate, and 73% say this is an effective retention strategy.
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80% of companies allow flex hours or telecommuting, and 69% indicate that this is effective.
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75% monitor pay and work satisfaction levels of key employees, and 55% say this is effective.
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84% discuss future opportunities within the organization with key employees, and 67% say this is effective.