Here are some of the latest statistics and survey results for retaining talent:

Primary reasons employees stay at companies and are engaged include: 

• Management understands what motivates them.
  
• Challenging work.
  
• Career advancement.
  
• Visibility, honesty & consistency of management (Towers Perrin Global Workforce Study, Executive Report)

Compensation and benefits are often less of a reason why people leave. Typically it’s due to management, work environment, or a direct supervisor (Robert Half Intl. employee data). Let’s face it. No one ever gets up in the morning and says, “I can’t wait to get to work today because I love our health benefits!”

• Employees that feel management does not respect them are 3 times more likely to leave over the next 2 years than those who feel respected (Sirota Survey Intelligence).
  
• Census bureau statistics show a 15% increase in the number of stay-at-home moms in less than 10 years.
  

You have to wonder how many of these bright, talented women would still be contributing to their companies, if flexible scheduling was far more common.

 

Among surveyed CIO’s, in order to retain employees:

• 63% provide additional training opportunities.
  
• 47% provide flexible schedules.
  
• 41% increase base compensations (Robert Half Technology survey of 1400 CIO’s).

 

The U.S. Bureau of Labor Statistics is predicting a shortfall of 10 million workers in the age range of 25-44 by 2010, which means there will be a dog fight for every competent person out there. This leaves you with two choices if you want good people working for you: (1) steal them from someone else, or (2) train and develop the living heck out of what you have.