Retention Is Executives’ Main Staffing Concern

Menlo Park, Calif. — April 9

As difficult as it has become to locate top performers, keeping them on board is proving to be an even greater worry for employers, a recent Robert Half survey found.

Roughly 38 percent of chief financial officers interviewed said retaining valuable employees is their biggest staffing concern for the next year. Twenty-seven percent of respondents said their top focus will be maintaining employee productivity, the survey said.

The survey was developed by Robert Half, a specialized staffing firm, and conducted by an independent research firm. It is based on interviews with more than 2,100 CFOs from a stratified random sample of companies in more than 20 of the largest U.S. markets.

Robert Half offers five tips for retaining key employees:

1. Maintain an open-door policy. Employees should feel comfortable voicing ideas and concerns. Unhappiness with their managers is one reason many people leave their jobs. Building strong working relationships with your team should be a priority.

2. Promote from within. Your staff will grow discouraged if they feel advancement opportunities aren’t available. Meet with employees to review their career paths and discuss how they can move up in the organization.

3. Provide competitive compensation. While money isn’t everything, it is important. Make sure employees’ salaries and benefits are at or slightly above the market rates.

4. Recognize outstanding work. Whether it’s a story in the company newsletter or a spot bonus, actions and achievements that warrant special acknowledgment should be rewarded promptly. The recognition doesn’t need to be expensive. Saying “thank you” and praising individuals in front of their peers are powerful motivators.

5. Offer professional development opportunities. Training programs help people expand their skills and boost productivity. You’ll also gain versatility in your team.

Source: Robert Half