Retention is Key

Now three quarters in to the year there have been some valuable learning lessons and observations in staffing. The first is that a perceived lack of skilled talent has been identified as a top reason why companies struggle to find the right candidates. This in my opinion is a myth. There are increased expectations of employers and the complexity of positions, therefore skills and “must haves” restrict the opportunity for many skilled professionals to be considered for an interview.

A second observation is that higher compensation demands are limiting candidates from making changes and challenging employers to attract talent from their competitors.  Companies looking for a competitive advantage may have to recognize that higher compensation is an investment in getting higher quality candidates. It also leads to greater employee retention and prevents a talent exodus when the competitor calls your people offering more money.

A final observation is that employees are seeking development, growth and an opportunity to learn on the job.  Employers with great retention strategies provide development opportunities and aid employees in career development. Plus they traditionally attract younger talent and greater employee career commitments.