Links to Articles About Employee Retention
Following our objective to be a broad and deep resource for anyone seeking information and resources about employee retention, we offer this growing list of links to a vast array of articles that have been published in the media about this topic. We regret that copyright laws do not permit us to post the entire articles for your convenience, but at least you have a focused resource available for your education and research. New items will be added almost every day.
These articles provide insight into much of what is happening around the world to build employee retention and workforce stability. Reducing uncontrolled employee turnover is a major strategic challenge for practically every employer in the developed world. As the pioneering leaders in the field of employee retention (our founder, Roger Herman, wrote the book that opened the field in 1990), we offer a wide range of tools and services to support employers. Our website, www.hermangroup.com, is designed to be a one-stop resource center for anyone interested in retention. Here you can learn about our work, some of what our colleagues are doing, and more. We invite your comments... and an opportunity to be of service.
||Employee-driven: At Steak n Shake, worker focus aids retention, profits and stock, Indianapolis Star|
They have happy employees who seem to enjoy their work."
That's exactly what company CEO and President Peter Dunn wants to hear. He believes satisfied employees lead to delighted customers who increase profits and please shareholders.
The employee-retention initiatives Dunn has rolled out the past three years seem to prove that theory. During that time, employee turnover has been reduced by about 30 percent. The company has rebounded from a quarterly drop in same-store sales to a record nine consecutive quarters of growth. And the value of company stock has increased 82.8 percent since Dunn's arrival, closing Friday at $20.77.
||A Sensible Way To Use PR, WebPro News|
This approach to public relations can richly reward its users: fresh proposals for strategic alliances and joint ventures; capital givers or specifying sources beginning to look your way; customers starting to make repeat purchases; membership applications on the rise; community leaders beginning to seek you out; welcome bounces in show room visits; prospects starting to do business with you; higher employee retention rates, and even politicians and legislators starting to view you as a key member of the business, non-profit or association communities.
||Addressing Moms' Needs at Work, Washington Post|
Breast-feeding or pumping milk while on the job is unlikely to be completely stress-free in any work environment, but it is possible, said several experts at the conference. They suggested strategies to gain an employer's backing.
During your pregnancy or maternity leave, meet with your supervisor, or the human resources or benefits manager, and describe how employers benefit by encouraging mothers to continue breast-feeding. Those benefits include fewer sick days taken by the mother, higher rates of employee retention and reduced costs for employee training, Albert said
||Del. prisons safer now, officials say, Delaware Online|
A state task force issued a report in February concluding that security policies at DCC, Delaware's largest prison, were vague, outdated and frequently violated. The panel described the performance of management and staff leading up to the incident as "poor," and said forcing prison guards to work overtime because of severe staffing shortages was a serious problem. The task force made more than 45 recommendations, including reviewing operating procedures, reworking job classifications to improve retention and recruitment, giving management more flexibility to meet staffing needs, upgrading equipment and reviewing inmate classifications to ensure that prisoners are kept at the property security level.
"We've completed most of them," Taylor said of the recommendations, adding that the most difficult challenge remains the recruiting and retention of prison guards, whose ranks include some 300 vacant positions.
||Nepotism has place at the office, Dayton Daily News|
"MBI has always been a very family oriented company, which is something I was looking for in a long-term employer," said Angie Cook, who has been with the company since 1995. "They are very understanding of what's going on and work with you on balancing work and family."
Nepotism can have good results. It brings loyalty and high employee retention. It brings teamwork in a more comfortable atmosphere.
"It seems that these employees look forward to coming to work and have better retention rates because they have a relative working at the company," said Karen Napier, Human Resources Director at MBI Solutions, whose uncle, Mark Lovelace, also works for MBI.
"We don't just go looking for family members," said Steve Broughton, CEO of MBI Solutions. "We take recommendations from credible employees and if we are interested, then they must go through a very selective hiring process."
The family atmosphere is the No. 1 reason employees say they stay. MBI believes better retention rates leads to better employee performance.
||Faith entering workplace, Deseret News|
Since the 1980s, employers have allowed workers with common interests — including gays and lesbians, military families and people of shared ethnic backgrounds — to form "diversity groups." Some companies say the policy has helped the bottom line: Recruitment, retention and productivity have improved as employees have begun to feel more connected to the workplace.
So when Christians started asking to be included in the trend, many companies saw it as an extension of an idea that already had served them well. Some offered not only access to corporate facilities but also budgets that could run into the thousands of dollars.
||Stemming the exodus, The Times of India|
The job market is certainly changing. Where once things like company loyalty were considered of utmost importance, now job hopping is looked upon as the fastest route up the corporate ladder. And so the HR manager's job becomes tougher and ever more important. According to a recent survey their job is no longer limited to recruiting or managing payrolls. Today they have to work extra hard towards retaining employees. They are even helping out in formulating company strategy and in diversification decisions. HR managers are so sought after that they are occupying the second rung after the CEO.
||Conducting Exit Interviews, City News, Canberra|
Effective exit interviews provide organisations with the power to increase employee satisfaction and productivity while reducing costs resulting from unnecessary turnover and retraining. Invest in your people today so they can grow your business tomorrow and into the future.
||The Costco Challenge: An Alternative to Wal-Martization?, Political Affairs.com|
A number of factors explain Costco’s success at building a retail chain both profitable and fair to its workers. But the basic formula is one the labor movement has been advocating for decades: a loyal, well-compensated workforce means a more efficient and productive one...Chief Financial Officer Richard Galanti explained: “From day one, we’ve run the company with the philosophy that if we pay better than average, provide a salary people can live on, have a positive environment and good benefits, we’ll be able to hire better people, they’ll stay longer and be more efficient.” ...By compensating its workers well, Costco also enjoys rates of turnover far below industry norms. Costco’s rate of turnover is one-third the industry average of 65% as estimated by the National Retail Foundation. Wal-Mart reports a turnover rate of about 50%.
With such rates of employee retention, Costco’s savings are significant. “It costs $2,500 to $3,000 per worker to recruit, interview, test and train a new hire, even in retail,” said Eileen Appelbaum, Professor at Rutgers University’s School of Management and Labor Relations. “With Wal-Mart’s turnover rate that comes to an extra $1.5 to $2 million in costs each year.”
||Web-Based Pre-Employment Assessments Help Firms Hire Better Candidates, Retain Stronger Workforce, BusinessWire|
According to Aberdeen's latest research findings, corporations are using pre-employment testing and employee assessment to identify, hire, and retain candidates who best fit a corporate culture and demonstrate potential to remain on the job longer. Online assessment tools are also becoming integral to senior management recruitment.
Aberdeen conducted its survey in conjunction with the Human Capital Institute, a Washington, DC-based provider of educational programs for human capital practitioners, talent managers, and executives.
The use of screening and assessment tools is growing as testing methods make assessments easily accessible to candidates, and more accurately and rapidly scored. Companies also perceive the use of pre-employment assessment as a valuable strategy for enhancing employee retention.
||Mentoring culture needed to assure succession, Sun-Sentinel|
Mentoring especially meets the needs of the "Y" generation -- which some characterize as the iPod generation -- because this younger generation tends to work alone. "Mentoring gives people a connection and a place to plug into," she says.
To be successful, leaders must support and participate in a mentoring program. "Unless leadership becomes part of the infrastructure, mentoring is not going to have staying power," Zachary says.
Employees must be given time for the mentoring relationship. "People must acknowledge and honor the time that's needed. They don't say, `That's not real work,'" she says.
But a mentoring program also has to be aligned with the workplace culture. If it is an open environment, workers are unlikely to respond to a highly structured mentoring program...For people who are a little burned-out in an organization, mentoring can be a way to re-engage them, she says.
...If employee retention is the goal, the company needs to look at retention rates and monitor who is staying and who is leaving the organization. Those who leave should be asked: To what extent has mentoring made a difference for you?
||Imagine:employee discounts on everything, CNN|
From multi-national conglomerates to mom-and-pop outfits, each has its own way of rewarding employees....Perks such as these, says Rose Stanley, a benefits manager at WorldatWork, a professional association for human resource professionals, is simply done to bring in and hold onto talented employees.
"It's all about attraction and retention," she said. "If they can do that for their employees at little to no cost, they hope employees will remember that when they are thinking about going to another company."
||The Business of Sex, Inside Colln County Business|
Condoms to Go stores have good employee retention. Goff was proud to say that she has an employee that has been with the company for 10 years, and several for five to seven years. She was proud to say that one of her employees just graduated and will be leaving to be a teacher, another graduated and will be leaving to be married. Goff credits the company’s employee benefits package, something that most other retailers or small businesses do not offer.
Goff is proud of her company and its winning of the Dallas 100 two years in a row.
“It is a fun business, you get to meet a lot of fun people,” said Goff.
||Teleworking Increases Productivity and Morale, Saves Money, Yahoo News|
Studies reveal nearly 45 million employed Americans work from home*, a number that will undoubtedly grow as companies recognize the financial benefits associated with teleworking programs....Benefits include Reduced absenteeism by employees as well as improved recruitment and
retention of employees because of the flexibility to work at home.
||Survey Reveals How to Keep Jewelry Store Staff Happy, International Diamond Exchange|
A new survey in the U.S. finds that although salary and benefits are among the top factors that influence whether jewelry staffers remain with a company, they are not the only issues that motivate them.
The opportunity to engage in challenging, rewarding work, combined with a chance to grow and a feeling of recognition and appreciation from employers, are also key retention factors for jewelry employees, according to the survey carried out by Diamond Staffing Solutions SM, a major jewelry industry staffing agency.
The company polled its current job candidates in the U.S. on a variety of retention-related issues to get a better picture of what factors motivate jewelry employees to stay with their current employers – and what would cause them to move on. Roughly 100 candidates completed the survey.
Asked to name the five most important factors that would make them stay in their job, 77 percent cited Good Pay/Compensation, while 66 percent said Opportunities for Career Growth and 65 percent said Challenging, Rewarding or Interesting Work. Meanwhile, more than half (55 percent) cited a Good Benefits Package, while 42 percent are looking for Recognition/Respect from the Company.
As for the top five factors that would cause them to leave a job, two-thirds (67 percent) said ‘insufficient pay/compensation’, while 58 percent cited ‘insufficient opportunities for career growth and advancement’, and 38 percent said ‘insufficient recognition/respect from the company’. Around a third (35 percent) said ‘work that wasn’t challenging, rewarding or interesting enough’ and 34 percent said ‘job instability’.
“There is a common theme here: while employees definitely want their employers to ‘show them the money,’ they also want to feel secure and valued at work,”...One of the clear indicators of how difficult it is to retain jewelry employees long-term is seen in how often they change jobs. Candidates were asked how many companies they have worked for. More than a third of respondents (35 percent) have worked for 4-5 different firms, while 27 percent have worked for more than five different companies. This means that 62 percent of respondents have held positions with at least four different firms.
||Health insurance struggle mounts, Loveland Daily Reporter-Herald|
Local companies of all sizes are trying to manage their rising health-care costs by focusing on wellness, education, outreach and increasing deductibles, co-pays and co-insurance for their employees....Ryan Ferraro, owner and general manager of Ferraro Auto Center, said offering health insurance to his approximately 60 employees helps with employee retention. He said having a fairly young and healthy organization helps manage costs, and the company looks at the plan every year and shops around.
||Oracle seen continuing buying spree to win market share, investors.com|
But if Oracle (ORCL), the top seller of corporate database software, wants to be as large a player as German giant SAP (SAP)(716460716460) in the market for applications used by large corporations, Chief Executive Larry Ellison likely will need to acquire more companies...Among the companies that have been mentioned as targets are Siebel Systems Inc. (SEBL), BEA Systems Inc. (BEAS) and BMC Software Inc.(BMC)
Siebel, the struggling maker of customer-relationship management software, has seen its shares fluctuate wildly at times on talk of an Oracle takeover. To be sure, San Mateo, Calif.-based company was recently forced to put an employee retention plan in place to calm its nervous workers over the threat of an impending buyout.
||Right corecare announces three year employee assistance programme with DWP, onrec.com|
As from today, Right Corecare will manage the Employee Assistance Programme for the Department for Work and Pensions. The entire initiative offers support and advice to over 150,000 employees so Right Corecare will now be supporting three times the number of employees it has worked with in previous schemes. The new, three-year initiative will offer comprehensive support to help individuals deal with a range of personal or work-related issues....Jayne Carrington, managing director of Right Corecare, comments, "The DWP has entrusted us for a further three years with this most important project and continues to invest in the well-being and productivity of its employees. This commitment will be repaid with increased retention, employee engagement, and more positive relations between employer and employees, all contributing to a happier, more productive workforce.
||O2Micro(R) Offers Employee Stock Option Exchange Program, BusinessWire|
O2Micro(R) International Limited (Nasdaq:OIIM), a leading supplier of innovative power management, and security components and systems for the Computer, Consumer, Industrial, and Communications markets, today announced that its Board of Directors has approved the full accelerated vesting of approximately 350,000 unvested outstanding employee stock options. Specifically options held by current employees, excluding executive officers, and directors, to purchase O2Micro ordinary shares with option exercise prices greater than $17.00...
The Board of Directors evaluated the minimal benefit to our employees of accelerating the remaining vesting on these significantly underwater options against the value to stockholders of not having earnings materially affected and the impact that this may have on O2Micro market value. In addition, because these options have exercise prices in excess of current market values and are not fully achieving their original objectives of incentive compensation and employee retention.
||Command Security Corporation Reports Fourth Fiscal Quarter and Year-End Results, PrimeZone|
Barry Regenstein, Chief Operating Officer and Chief Financial Officer, commented, "As a result of the Company's March 31st fiscal year-end, our fourth quarter results are historically adversely impacted by higher payroll taxes and state unemployment insurance costs. While the 2005 fiscal year results included significant costs as noted above, we can be proud of the progress we've made so far. We remain committed to our primary objective of accelerating the long-term profitable growth of the Company, and are encouraged by the continuing advancements we're making in sales, employee retention and customer satisfaction. We'll continue to focus on running our business as best in class, while employing our increasing financial strength in focused, disciplined ways that create greater value for our shareholders, customers and employees. Ever-expanding opportunities and our commitment to quality highlight our path towards long-term success."
||Churchill Downs Incorporated Implements GroteApproach Performance Appraisal Software to Conduct Empl, EMediaWire|
Churchill Downs Incorporated (CDI) has completed the implementation of the GroteApproach SM Web-based performance management system. Developed by performance management expert, Dick Grote, this online performance review solution delivers a proven approach to handling employee evaluations....
GroteApproach helps organizations transform performance management from a frenzied series of events to a well-defined, continuous, effective process. The system ties an organization’s goals, mission statement, vision and values to performance management in order to achieve critical organizational objectives. With GroteApproach, organizations can maximize employee productivity, reduce the cost of the performance appraisal process across the organization, and improve the retention of top employee talent.
||New Deloitte program boosts retention, reduces costly turnover, Consultant News|
Deloitte & Touche USA LLP has launched a career management program that allows employees who opt out of the workforce to stay connected to Deloitte and maintain the skills and networks needed to rejoin its staff down the line.
Personal Pursuits provides participants with a host of resources to keep them connected, technically proficient and professionally accredited -- including training, mentoring, career coaching, networking events and ad hoc work assignments.
||County division hemorrhaging, report says, Half Moon Bay Review, San Mate|
San Mateo County planners grapple with a workload that is roughly three times higher than that of other Bay Area jurisdictions. As a result, people have left the departments often in search of less demanding private positions. As for those who stay, they are overburdened and difficult to reach.
The agency has suffered a staggering loss of qualified staff members. In 2001, Planning had two Senior Planners and 11 Planners. Since that time, staff levels have fallen to a current level of one Senior Planner and seven Project Planners, and one Planning Aide.
"Turnover within Planning has been heavy, with losses of 12 planners equaling a turnover of approximately 100 percent over this same four year period.
||Taxpayers sound off on 14-cent increase, The Leaf Chronicle (Clarksvill|
The county government suffers from poor employee retention because nearby municipalities, primarily Nashville, pay better and attract quality employees.
A 2000 study by Compensation Benefits Solutions found that most of the county's public safety workers are being paid under market value, some by as much as 23 percent.
||Workplace revolution, Newsday|
Two years ago, the inequities of the workplace really hit home for Kathryn Common. That's when she and her partner celebrated their relationship in a non-state-sanctioned wedding ceremony. At the same time, a male co-worker got married, and his new wife started receiving the health and tuition reimbursement benefits denied to Common's partner, Liz Douglass....Indeed, as the economy improves and labor recruitment and retention re-emerge as key issues, such scenarios should be capturing employers' attention. Yes, smaller companies do worry about increased costs that may come with added coverage for same-gender spouses or partners. Yes, Massachusetts is facing a possible challenge to the same-gender marriage ruling in the 2008 election. Yes, a handful of employers there are rolling back domestic-partner benefits, saying that if same-gender couples want them, they can now marry. And yes, some inequities still exist, especially where commonwealth laws clash with those of the federal government, which does not recognize same-gender marriage.
||Violated? NOPD residency law, The Times-Picayune|
Dozens of Police Department sergeants and lieutenants and at least seven captains -- the department's highest civil-service rank -- have been promoted in recent years despite claiming homestead exemptions outside the city. The domicile ordinance, passed a decade ago, says all new recruits must live in the city and that any officers already living in the suburbs must move into the city or forgo all future promotions....Detractors counter that New Orleans desperately needs more police officers and can hardly afford to be so choosy. Allowing cops to live in the suburbs will triple the size of the pool of potential applicants, they say, and perhaps allow the city to reach its goal of 2,000 officers....Earlier this year, Police Chief Eddie Compass for the first time asked the City Council to suspend the rule, citing recruiting and retention problems
||TERI lawsuit will be eyed closely, The State, Columbia, SC|
In May, veteran state employee Nancy Layman signed up for a special retirement program.
Under the program, called TERI, Layman — an attorney with a 28-year tenure with the state — technically retired but will work for five more years.
As part of the deal, Layman no longer has 6 percent of her salary deducted from her paycheck for retirement. She also does not earn extra retirement credits for her five additional years with the state. And although she has started receiving her state retirement pension, the money is deposited into a special account she can’t touch until 2010.
“That was one of the inducements to sign — that they would no longer be taking the 6 percent out because, in effect, I was retired,” said Layman, 63, a state Department of Health and Environmental Control attorney.
But in early June, the S.C. General Assembly changed the rules on Layman and 13,670 other state workers who are part of the TERI program, which stands for Teacher and Employee Retention Incentive.
Starting July 1, all TERI retirees must pay 6.25 percent of their salary into the retirement system. But while money will be deducted, they won’t get credit for additional years of service, which would increase their pension.
||Canon Not to Extend 3R Beyond June 30, Channel Times, India|
Canon India is closing the 3R motivational program as scheduled on June 30 this year, promising another program later in the year. The program was started in order to upgrade efforts of its channel partners toward retaining good talent.
A total of 214 sales executives of Canon's channel partners are believed to have participated in the program. According to Som Gangopadhyay, head-marketing, volume and value business, office system and solutions, the program has seen huge enthusiasm among the participants. "Across the country, the spirit of competitiveness has been seen. At present, the 3R program is running in three metros and the NCR region where sales personnel are instructed on soft skills like sales training and servicing support."
Launched in February this year, 3R is a concept whereby Canon directly rewards and recognizes the sales executives in partner organization.
||Linda Taglialatela, Federal Times|
Linda Taglialatela, deputy assistant secretary for human resources at the State Department.
James J. Lee / Times staff
Legislation to reform the government’s onerous personnel management system and establish performance-based pay systems at all agencies hasn’t even been introduced in Congress, but Linda Taglialatela already is hard at work analyzing how the changes will affect the State Department’s 24,000 employees.
Taglialatela knows a thing or two about planning for change. As deputy assistant secretary for human resources, she is the official responsible for identifying current and future work-force needs in the department and outlining a strategy for helping State managers meet their recruitment and retention challenges.
||Wanted: Employers sought for disabled workers, Daily American Republic, Popla|
"Most employers don't think much about hiring people with disabilities," said Penny Bennett, program director at the Independent Living Center of Southeast Missouri (ILCSEMO). "They are missing out on a lot. People with disabilities can be quality employees."..."We concentrate on matching the person to the job," said Kathie Kearbey, vocational advisor at ILCSEMO. "We have tests to assess what they like and what they don't like, what they need, and what they are able to do. And that is where we try to place them. This increases employee retention because they want to be there. Disabled people are very committed and dedicated employees."
||‘War for Talent’ puts pressure on Australia’s HR professionals, Consultant News|
A global study of over 300 Chief Human Resources Officers (CHROs) released today by IBM Business Consulting Services (BCS), has found that despite Australian organisations leading the world in HR process benchmarks, they must stem voluntary turnover at the senior and middle management levels to maintain competitiveness
||Exit Interviews can improve staff retention, City News, Canberra|
Why is it that so many strong organisations continue to lose excellent employees? Organisations are facing unbudgeted expenses of thousands to hundreds of thousands of dollars by ignoring the costs involved in employee turnover.
But how can organisations discover the real problems causing high employee turnover? Simplistic as it sounds the answer is to ask the departing employees in an ‘exit interview’ and record, analyse and action the information revealed by the interview.
||Q&A: Mark Templeton, Citrix chief executive, VNUNet.com - Haarlem,Netherlan|
Where is the demand for flexible working coming from within businesses?
Demand is coming from several places. First, there is government regulation around home computing. It's not only in the UK that we are seeing this. The US federal government has also put flexible working legislation in place. In US government it is not congestion or work/life balance that is driving this. It is about saving money through having fewer government facilities.
There is also demand at a corporate leadership level. More and more companies are starting to worry about the quality of their employees' work-life balance. They are realising the value of employee retention, and they know the cost of turnover.
||Vertafore Benefits Adds Work/Life Resources to BenefitsCenter Employee Portal, Yahoo Finance|
Vertafore Benefits, a leading provider of software and automation services for employee benefits brokers, announced today it has selected LifeCare, Inc.'s award-winning web site for its state-of-the-art employee portal application. The addition of LifeCare's web site to its portal gives small and mid-sized employers the ability to offer workers a variety of life-oriented benefits that traditionally only large employers provided.
||SAP boosts its executive talent in head-hunting drive...Oracle and Siebel staff jump ship, TechWorld|
Several top names in the who's who of business application software have abandoned Oracle and Siebel Systems to join arch rival SAP. The exodus of talent at Oracle comes as the database giant struggles to incorporate both new products and people acquired through its purchase of PeopleSoft.
SAP said that it had lured more than 200 people away from its competitors, including a handful of top executives. The new hires reflect a dramatic shift in the movement of talent in Silicon Valley.
"They send a signal around the Valley that SAP has a winning team," said Joshua Greenbaum, a principal at Enterprise Applications Consulting. "People want to be part of a winning team."
Siebel has responded to its outward flow of talent by launching an employee retention programme.
||Accountants' Book Value on the Rise As Firms Grapple with Flood of Financial Regulations, Smart Pros|
Employment of accountants and auditors is expected to grow by 10 percent to 20 percent through 2010, according to the U.S. Bureau of Labor Statistics. Anecdotally, recruiters and executives say firms are working the hardest to fill senior-level positions. ..Ernst & Young's solution to the good job market is to spend more time reaching out to alumni, says Karen Glover, the firm's head of recruiting. Every former employee is assigned an Ernst & Young staffer who stays in contact.,..One of the biggest challenges in recruiting experienced accountants is that there are just not enough of them. Colleges and universities offer a flood of entry-level job candidates, but those with the technical knowledge to understand their way through the maze of accounting rules are scarce. "We realize that there is not an untapped pool of people to bring in, so we are focusing on making people want to stay with us longer," says Jennifer Allyn, director in the diversity and work life office at PricewaterhouseCoopers....BDO's Murphy agrees that retention needs to be a focus for all accounting firms because it's an industrywide issue, with turnover costing at least $50,000 per person. "But that is what it would cost per person in a regular market," he says. "In this market, where firms conceivably are not accepting all the business they can because they are not completely staffed, there is also the opportunity cost of lost business."
||Will Work for a Discount, Washington Post|
Obviously one reason to offer employee discounts is to pump a chunk of the company's payroll back into its coffers. Daniel Butler, vice president of merchandising and retail operations for the National Retail Federation, said the discounts have existed for a long time, but what has changed is a willingness to offer them to part-time employees.
"Twenty-five years ago in retail, a typical store would be made up of 60 percent full-time employees and 40 percent part-time. Over the last 10 years especially, with the growth of night and weekend business," the numbers have flipped, Butler said. To fill out their part-time needs, companies use the discounts to attract students and people with other occupations (artists, for example) that may not pay a steady wage.
Paul E. Oyer, associate professor of economics at the Stanford University School of Business, suspects that employee discounts have become a standard part of retailing recruitment and employee retention for several other reasons.
||Employee Satisfaction Driven by Compensation and Work/Life Balance, Yahoo Finance|
Nearly eight out of every ten employees are satisfied with their jobs and say benefits, compensation, and work/life balance are the most important factors to their overall job satisfaction, according to the Society for Human Resource Management's (SHRM) Job Satisfaction Survey released today.
"For organizations to be successful at competing for new talent and retaining employees, they have to know what workers want, what keeps them happy, and what makes them stay," said Susan R. Meisinger, SPHR, president and CEO of SHRM. "Addressing the essentials, including fair compensation, valuable benefits, and the ability to balance work and life are critical components of an organization's overall retention strategy."
SHRM has conducted a series of job satisfaction surveys to discover what is important to employees. The survey questions were e-mailed to randomly selected SHRM members, yielding 505 responses from human resource professionals, and 600 randomly selected U.S. employees. The human resource professionals reported their perceptions of employee satisfaction while the employee sample reported how satisfied they were with their work. The findings are compared with previous surveys in the series to examine trends and shifts over the past three years.
||If you're leaving, watch what you say, Montreal Gazette|
"Exit interviews with departing employees are very useful to an employer," said Wanda Brown, vice-president and general manager of Cyberna Associates, a Montreal management search firm.
"An employer will use them to get information about the working environment, processes and systems, management and personnel development.
Ideally, they'll be treating it as a forum for issues that affect employee retention. The interviewer may ask such questions as: Was the job as it was described when you were hired? Was there a good integration program when you began? Were you given sufficient opportunities to grow and develop?"
||Old. Smart. Productive., Business Week|
Rather than being an economic deadweight, the next generation of older Americans is likely to make a much bigger contribution to the economy than many of today's forecasts predict. Sure, most people slow down as they get older. But new research suggests that
boomers will have the ability -- and the desire -- to work productively and innovatively well beyond today's normal retirement age. If society can tap their talents, employers will benefit, living standards will be higher, and the financing problems of Social Security and Medicare will be easier to solve. The logic is so powerful that it is likely to sweep aside many of the legal barriers and corporate practices that today keep older workers from achieving their full productive potential...Some enlightened companies are catching on to all of this. They're hiring or retaining older workers with flexible work schedules and ample training. United Technologies Corp. (UTX ) spends more than $60 million a year on its Employee Scholar Program, which pays the costs of workers of any age who study in their spare time. At UTC's Hamilton Sundstrand facility in Miramar, Fla., 61-year-old lead mechanic Ed Perez is working on a bachelor's degree in legal studies. He finished an associate's degree in aviation-maintenance management two years ago and hopes to go to law school. "If I don't run out of time and UTC doesn't run out of money, I'll keep going," he says...UTC Chairman and Chief Executive George David, at 63 a candidate himself for discounted movie tickets, argues that an educated worker like Perez is a better worker, regardless of age or area of study. What's more, the free education incentive tends to appeal to UTC's most skilled and motivated employees, so it's a way for the company to retain the people it most wants. Retention rates among "employee scholars" are about 20% higher than for regular U.S. workers.
||The online mentor, Express Computer, India|
Most organisations consider mentoring the most effective way of grooming potential leadership. To create a shadow team of managers, who can take over responsibilities if there is a sudden transition at the top. It is also considered an effective retention strategy. To broaden the mentoring process, many global organisations have adopted the online mode. Mentors can consequently guide their mentees across geographies and sometimes across functions, with time and location not limiting this process of creating future leaders.
||Sparking the Interest of the Employee Volunteer, On Philanthropy|
But how can a volunteerism program that’s catering to employees’ emotional needs also fit into a business’s larger strategic philanthropy program? Hayes points out that nearly every business includes treating employees well in the larger business strategy, that everyone wants to know how to keep employees and how to attract the potential employees they want. She says this is one strategic role that volunteerism can play. If the company meets the employees’ needs, they will be happier, and volunteerism is a way to meet those needs. Anecdotal evidence supports Hayes’s take on the issue. For instance, the 2004 Business Leadership Forum On Workplace Volunteering Brief makes the case that KMPG has seen enhanced employee retention as an outcome of its volunteerism program. The brief quotes Bernie Milano, President of the KPMG Foundation: “To differentiate your organization is a real challenge. When they see our [workplace volunteer] program, they [employees] become extremely proud of the firm.”
||Cisco Pushes Use Of IT To Keep Employee Health Costs At Bay, Information Week|
As a group, Cisco Systems employees are generally a healthy bunch. However, with the average age of Cisco employees at 40 and a 90% worker retention rate, Cisco realizes that it's only a matter of time before many in its workforce begin to develop health problems that come with aging.
With this in mind, the company is already trying to get a handle on the potential for increased health problems among its employees and rising medical costs. A big part of that strategy is to encourage its health-care providers to adopt health IT, such as electronic health record systems, which can keep costs down by reducing waste and redundancy, as well as help prevent medical mistakes and improve quality of care, says Dr. Jeffrey Rideout, M.D., Cisco's corporate medical director and VP of health for Internet business solutions.
||So When Can You Use The New Recruitment, Retention Incentives?, FedSmith.com (for federal empl|
The Office of Personnel Management just posted on its web site questions and answers for federal agencies regarding administration of new recruitment, relocation and retention incentive authorities in response to questions received from agencies.
The new recruitment, relocation and retention flexibilities given to agencies were part of the Federal Workforce Flexibility Act of 2004 – which became effective May 1, 2005.
||Kronos Recognized for Innovative Technology, BusinessWire (press release)|
Leading workforce management vendor Kronos(R) Incorporated (Nasdaq: KRON), has been recognized for its innovative technology by the Massachusetts Innovation & Technology Exchange (MITX). Kronos' Workforce Scheduler(TM) application won in the category of "Best Business Operations Application" for a variety of reasons including the agility of the solution, its market potential, and the benefits it delivers to today's leading organizations.
"We are pleased that a third-party organization has realized what our customers already know -- that we are the leader in developing agile and innovative technology that helps manage the workforce. And, we have become the leader by continually providing the solutions that organizations need to reach their goals," said Peter George, chief technology officer at Kronos. "The benefits that our customers achieve proves that our technology has, and will continue to, set the industry standard for others to follow."
Workforce Scheduler allows organizations to effectively deploy their employees by matching the workforce to the work. It provides one place to manage the schedule in real time; tracks employee skills, certifications, and other requirements that are essential to creating optimal schedules; and configures rules that monitor staffing policies and compliance with federal regulations. Workforce Scheduler also empowers employees with self-service functionality leading to improved employee satisfaction and retention.
Comment: Expect more products to be developed, using an employee retention hook to promote that, however remotely, what is offered helps retention. As the #1 issue today, it's a good place to put a hook.
||Firms need sound career development strategies, Financial Gazette,Zimbabwe|
By helping your employees understand what it means to manage their careers successfully, you may in fact be implementing a retention strategy. If your employees recognise that their career satisfaction is important to you and the company, they may be more inclined to realise through their self-assessment that they are in the right place because their values are aligned with the organisation's values.
||Keeping Your Keepers: Five Steps to Grow On, law.com|
As a legal recruiter, I often advise clients to do everything in their power to keep their keepers to enhance the stability, value and growth of their firms or corporations. This article will summarize five easily implemented and market-tested strategies that will improve your retention efforts and diminish the efforts of those who try to recruit your star employees away.
||Business, civic commitment lauded, Poughkeepsie Journal|
Local business and community leaders came together Monday to pay tribute to O'Shea, chairman of the City of Poughkeepsie-headquartered insurance brokerage. O'Shea was named as the Poughkeepsie Journal's Businessperson of the Year at a luncheon at Dutchess Community College attended by about 200 people.
O'Shea, who recently stepped down as Marshall & Sterling's president and is serving as the firm's chairman, has been with the company for 50 years...
Marshall & Sterling is known for having a good employee-retention rate, said Thea Glaser, director of Labor Supply and Development for the Dutchess County Economic Development Corp. "It's one of those companies that people love. Some people stay with them for a lifetime," Glaser said.
||Personal Touch, Recycling Today|
Progressive Recovery, however, sees a backdoor route to achieving that goal. "The company philosophy needs to be that employees are number one and customers are number two, because your employees will take care of your customers," says Tiffany.
Craig acknowledges that this is not a philosophy that was natural to him and that it was not the attitude he brought to the company when he became co-owner in the late 1990s. "I tried to be the heavy-handed boss when I came in, trying to run the business with my mouth, but I learned," he says. "One of my former partners showed me that you don’t have to do that and that it can pay off to have faith and trust in your employees. I used to be a screamer, but he cured that."
But style is as important as substance. "We have a great employee retention rate, and I think that comes from our recognition that there is not a separation between personal lives and job performance and job satisfaction," says Craig.
He says his most important job duty in the morning is "to catch up and see how everyone is doing. Is everyone smiling? I need to take as much care of them as they do of me."