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: