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Jul 30, 2010
A survey commissioned by Tate
War for Talent
If reducing your headcount is one of the most significant changes you have made to combat the recession, or if the emphasis of your organisation has been on systems, policies and processes, you may find yourself in a fierce war for talented staff.
Whilst savings can be made in some parts of your business, dependable staff are the lynch pins of an organisation and for companies that have not focussed on the retention of their irreplaceable people - now is the time!
A survey commissioned by Tate, specialists in office support recruitment, identified that of the 400 participants, 78% intended to request a pay rise as soon as the job market improved. 59% stated that money was a key motivator when considering a new job, 13% were motivated by the threat of redundancy, 11% moved for career progression, 9% for location and the remaining participants were motivated by benefit packages.
There are many recommendations available on developing an employee retention strategy. The CIPD advises that the first two steps of this strategy should be to find out why employees are leaving and what employee turnover is costing your organisation.
The war for talented staff is expected to heighten and organisations should be taking necessary measures to retain their talented people or run the risk of being left wondering what happened!
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