Enticing Your Employees to Stay

Towers Watson and WorldatWork has unveiled the results of a global survey comprising 1,176 companies. Of U.S. firms, 52 percent said they had difficulty attracting critical-skill employees, while 45 percent said they had difficulty attracting talented employees. Some experts say companies need to reassess their reward and talent management approaches and how they attract, retain, and motivate staff.

Laura Sejen, Towers Watson’s global head of rewards consulting, says the most talented employees are in short supply even during comparatively sluggish economic times. Workers also are hesitant to seek employment elsewhere as a result of uncertainty about the economic recovery. “As a result, many companies find themselves in a position of having to find new and innovative ways to entice and ultimately develop talent and leadership for the future,” Sejen says. Additionally, the survey found that companies are likely to focus more on leadership, succession planning, and career paths over the next three years. James Berkeley, director at employee-benefits consultancy Berkeley Burke International, says organizations that see themselves as providing a career should provide education to help staff attain the skills they need for today and offer development to ensure staff will have the skills to undertake future jobs.

Source:Human Resource Executive (09/17/10) http://www.hreonline.com/HRE/story.jsp?storyId=533182640

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