|
|
Retention Trends
Monster(R), a global online careers and recruitment resource and flagship brand of Monster Worldwide, Inc. (MNST), released a study which found that recruiters and hiring managers are not only cognizant of retention issues, but are concerned about their current and future impact on organizational growth
Of the HR managers surveyed:
- 70% feel worker retention is already a primary concern
- 40% state that turnover has increased in the past 12 months
- 55% expect workforce retention will be a high to very high challenge for their organization in the next five years
Monster's "Retention Strategies for 2006 and Beyond", Winter 2006
Aberdeeen Group, Inc., a provider of fact-based research and solutions, announced the results of a recent research report.
Of the companies that reported 1-5% average turnover rates:
- 89% had a formal retention program
- 84% had a succession program
- Best in class companies are more likely to have formal retention plans than their colleagues. Key performance metrics show that these companies also have lower new hire and attrition costs.
Aberdeen Group, "Retaining Talent: Retention and Succession in the Corporate Workforce",
December 2005
|
|
|
|
