Thomas H. Bodin
OI Partners-Organizational Innovations, Inc.
Fifty Eight Twenty One - East
Sunset Ridge Business Park
5821 Cedar Lake Road South
Minneapolis, MN 55416
(952) 525-1475 ext. 400
Minneapolis – In a sign of an improving job market, 2 out of 3 employers are implementing programs to retain some of their most talented workers, according to a survey by OI Partners-Organizational Innovations, a global coaching and leadership development and consulting firm.
68% of employers have taken steps during the past year to retain some of their best executives, managers, future leaders, and those who work on the front lines. That is because turnover has already increased at 30% of surveyed companies and most are bracing for more employee exits in the coming year, according to the survey:
* 90% are concerned about losing high-potential employees
* 72% are worried about departing front-line workers (sales and service employees)
* 60% are apprehensive about middle managers leaving
* 45% are uneasy about senior-level executives exiting
“Most employers have initiated measures to hang on to their best talent. They realize if retention is a problem with a high unemployment rate, it will only get worse once more jobs become available if they don’t do something to entice employees to remain,” said Tom Bodin, Managing Partner of OI Partners-Organizational Innovations.
“Companies are most concerned about losing employees who they have designated as their future leaders and those who directly work with customers. Job opportunities have already increased for these levels of workers and competition for the best ones will become more fierce, as well as for those who manage them,” Bodin added.
The most difficult types of workers to retain are: operations and production (chosen by 30%), sales and marketing (27%), customer service (24%), accounting and finance (22%) and information services (20%).
Coaching programs, better compensation and benefits and tuition reimbursement are among the top retention methods employers are using to retain management employees and future leaders.
“Providing coaching to employees in how to become better managers is as important a signal of investing in their career development as are salary and benefit increases,” said Bodin.
Employers are using primarily non-financial methods to retain those who work on the front lines, including selecting them more carefully, giving departing employees exit interviews, and providing better orientation and training.
The methods companies are using to retain employees are:
- High-potential workers: The top ways that companies are trying to retain high-potential employees are through better compensation and benefits (43% of respondents), coaching programs (40%), mentoring programs (38%) and tuition reimbursement (37%).
- Middle managers: The most popular retention methods companies are using for middle managers are coaching programs (35%), tuition reimbursement (30%), better compensation and benefits (30%), and flexible hours and schedules (24%).
- Senior-level executives: Coaching programs are the top way companies are trying to retain senior-level executives (37%), followed by stock options (32%), profit-sharing (27%), better compensation and benefits (24%), and retention bonuses (18%).
- Front-line workers: 50% of employers said they are selecting front-line workers more carefully as the top retention method. Other popular retention methods are: giving exit interviews (48%), better orientation and training (35%), tuition reimbursement (34%), and better compensation and benefits (26%).
OI Partners received responses from 174 organizations with locations throughout North America.
About OI Partners
OI Partners is a leading global coaching and leadership development and consulting firm that helps individuals find new careers and employers to improve the performance of their employees and organizations.
OI Partners specializes in career transition programs, executive coaching, leadership development, and other staffing solutions. The company was established in 1987 and is now located in 200 offices in 27 countries with close to 100 U.S. offices.
Please visit www.oipartners.net or call 800-232-5285.
About Organizational Innovations, Inc.
Founded in 1981, OI Partners - Organizational Innovations, Inc. is the Midwest regional OI Partners office and one of its original founding companies. Through its employees and alliances, Organizational Innovations delivers human resource, organizational, workforce, and individual development consulting coaching, training and recruitment services in four key talent management practice areas: Acquisition, Development, Alignment and Transition. Please visit www.organizational-innovations.com or call