Retention Deficit: How To Keep Your Best
Improving Business And Job Market Puts Retention At A
Premium.
Now that the economy and job market have rebounded, how can you
retain your best people?
That's the challenge, according to many recent studies. At the
very least, retention requires a competitive salary and great
benefits. Employee involvement, recognition, advancement,
development and pay, based on performance, are just the
beginning of your quest to retain your best.
As The Market Improves, Many DMers Are Ready To Jump Ship
Two years of steady, if not spectacular job growth in direct
marketing--and business in general--has emboldened more people
to look around. Retention is the top priority at growing direct
marketing organizations that are facing stiff competition for
certain talent. I'm speaking specifically of seasoned
merchandise, finance, IT, marketing, and general management
professionals.
A top marketing executive I know, wasn't looking for a new job
when a recruiter (not this one) suggested he consider leaving
his employer of 12 years to work for another company.
"I was well respected, well compensated, and my relationships
with my peers and boss were very good," the 43-year old told me.
"This came up and it was too good not to explore." Explore he
did, and joined his new company in October.
This Is Excedrin Headache #1
A growing number of direct marketing job changers are seizing
good opportunities in this improving labor market--creating
major headaches for companies trying to retain their best
people. How do companies hold onto them in an improving labor
market?
Employee Loyalty, Retaining Customers Go Hand In Hand
Finder's keepers? Not necessarily. Most direct marketing
merchants are experts in finding and retaining customers, but
many have trouble attracting and keeping top-notch talent.
"Employee loyalty drives brand loyalty, which drives customer
recognition for a company," according to Diane Durkin, president
of Portsmouth, N.H.-based The Loyalty Factor. "For a customer,
the one employee they interact with is the company."
Hold On To Your Best: Retention Tips You Can Use
Recruiting the right people and keeping the right people
matters, especially now.
A recent survey conducted by the Society for Human Resource
Management (SHRM) and CareerJournal.com asked 300 managerial or
executive employees what they plan to do in the rebounding job
market. The survey also asked 451 HR professionals which
programs or policies they use currently to help retain
employees--what types of retention efforts to keep their best
employees on board.
For executives, key reasons to begin searching for a new
job: