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Fri, May 11, 2012

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Monster 5 for Friday: Employee Retention Edition

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What makes great talent stay with an employer for the long haul? And what could you be doing that’s inadvertently driving them away? This week’s 5 for Friday rounds up some of our favorite links that tackle employee retention issues.

5. IT Workers Are Happy, But Will Still Leave for Something Better. Most IT employees are engaged at work, loyal to their employers and inspired to do their best everyday, according research by from Randstad Technologies and Technisource. However, more than half still say they are open to new employment opportunities. “The takeaway for employers is that they use whatever means to create a strong bond with their employees by engaging, recognizing and empowering them in order to minimize attrition,” said Bob Dickey, executive vice president of technologies at Randstad U.S.

4. From Global Conference: The Flexible Workforce. “Flexibility in the workforce is not a new concept, but its definition and applications are widening and misconceptions are still being overcome, said Carol Evans of Working Mother Media during the ‘Managing Talent and Building a Unified Workforce’ session,” reports SmartBrief’s James Dasilva from the Milken Institute Global Conference. “Many women value flexibility to the point that they would choose an increase in that work-life quality over a raise, and that men, especially in the younger generation, will be as much a beneficiary of this workplace evolution as women.”

3. Stop the Mutiny! Keep Employees From Quitting. “We have frequently seen high-level employees who are overworked and underpaid becoming disengaged,” said Piera Palazzolo, senior vice president of marketing at Dale Carnegie Institute, a corporate-training organization. “Employees who ARE engaged can look beyond their wages, salary and hours and feel a close attachment to the values, ethics and actions embodied by the organization,” he said.

2. Great Employee Benefits Aren’t Just Good for Workers, Study Finds. A commitment to employees’ financial well-being creates a competitive advantage, research from Harvard Business Review Analytic Services found. It translated into increased employee engagement, stronger customer relationships and deeper organizational expertise, according to the study, which was sponsored by the Principal Financial Group.  “As one HR director puts it, you can’t have customer satisfaction without employee satisfaction. A good benefits program’s connection to employee security, motivation and performance couldn’t be more clear,” said Angelia Herrin, research and special projects editor of Harvard Business Review.

1. The Value of New Moms Returning to Your Workforce. Inspired by the example of an Australian company that was offering new mothers extra pay to come back to work, Tim Sackett asks what companies here can do to support retention among that group. “Think of what new Moms need: a transition plan to ease back into their “new” life, flexibility, encouragement, understanding and maybe a big bottle of wine and a sitter every so often. When we talk about the cost of retention and engagement, this is what we are talking about. Find ways to keep your best, because in my world, my Mommies are my best!”

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