Retention Tools Critical as Job Market Picks Up
MRI Survey Shows Companies Use a Variety of Techniques
Cleveland, Ohio—As hiring picks up, employers must remain vigilant and aggressive in their efforts to retain top talent. With more opportunities opening up, implementing retention strategies to keep key employees happy and productive has become even more critical, according to recruiters at Management Recruiters International, Inc. (MRI), the world's largest search and recruitment organization and a subsidiary of staffing and outsourcing leader CDI Corp. (NYSE:CDI).
An MRI survey of more than 4,600 executives showed that most employ a number of retention tools to help maintain a productive workforce. More than 82 percent of those surveyed offer performance based bonuses, 70 percent use recognition programs, 68 percent use tuition reimbursement programs, 41 percent use extras such as parking and fitness subsidies, and 16 percent offer day care assistance.
"Today's economic climate requires employers to take a thoughtful approach to how they retain and get the most out of their key employees," said Allen Salikof, president and CEO of MRI. "Even though turnover rates are not what they were two or three years ago, keeping staff productive and challenged at work is more important than ever. With tightening workforces, top employees have been asked to pick up the slack for departed colleagues and, thus, are taking on even more work and responsibility.
"Employers must also realize that what attracts a candidate to a particular job is often different from what keeps that person there," continued Salikof. "While salary is certainly a key consideration for potential employees, pay alone won't keep them in a job. Employee retention can be improved if employers create a work environment that rewards performance, creativity and initiative and, most importantly, create opportunities for employees to advance and to be given more challenging responsibilities."
About Management Recruiters International
Management Recruiters International, Inc. (www.MRInetwork.com), trading as MRINetwork, is one of the world's largest search and recruitment organizations with more than 1,100 offices in over 35 countries and systemwide billings of nearly $500 million. Management Recruiters International, Inc. is a subsidiary of staffing and outsourcing leader CDI Corp. (NYSE: CDI), a global provider of engineering and information technology outsource solutions and professional staffing (www.cdicorp.com).
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