HR Officers Explore Methods For Retaining Talent

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Linkedin recently conducted a study on HR trends and found that the desire to change employee experience and reduce both attrition and job-hopping is on the minds of more than 90% of HR professionals who participated.

Patrick Thibodeau at TechTarget.com reported that LinkedIn’s annual Global Talent Trends report indicated that 94% of those surveyed felt that by investing more heavily in employee experience, they were able to improve employee retention rates for their organizations. Among the top ways that HR professionals have found to enhance the experience for workers is through compensation and benefits.

The top way to retain valuable workers, however, rests on the quality of leadership. recognizing worker performance, and compensation.  Some tactics to retain valuable workers include robust benefits options, increased responsibility, or recognition within the company.

The Atlanta-based parent company for Kelley Blue Book and Cox Automotive, Cox Enterprises, Inc. believes that when the company does well, workers should be compensated accordingly.  Justin Ritchie, assistant vice-president for sales enhancement at Cox Enterprises, told TechTarget, “A lot of people think compensation plans drive performance, but in my opinion, compensation plans are the supplemental piece that help with performance.”

Amy Schultz, director of talent acquisition at LinkedIn, agrees with Cox and believes that compensation is just one element of employee experience.  Another key to improving the employee experience is internal recruiting.  Though companies tend to think they should focus their efforts on external recruiting practices, Schultz stresses that the trend among employers teaching existing employees new things to fill the company’s needs.

“There is longer employer tenure at firms that do a lot of internal recruiting.”

Citing the LinkedIn report, firms with high internal recruiting have employees that will stay 41% longer than those at companies that favor external recruiting.