Employee Retention - Some Thoughts
By User769227-Oracle on Aug 22, 2008
I came across an article by Rosalie Marshall from the itnews.com.au website earlier today, the link to the article is: Companies Urged to Address Staff Turnover
It was interesting to note that the survey of 71 IT organisations found that those with stronger education and training programmes have lower than average turnover rates, and that staff prefer good training to increased pay.
"IT managers often worry that investments in training will be reaped by other organisations when IT workers shop their new skills around," said John Longwell, director of research for Computer Economics.
"But this study indicates that investing in training is actually the best way to retain employees."
The factors commonly perceived as influencing staff turnover are:
-Education and training opportunities
-Employee recognition programmes
-Paid time off
"While offering competitive salaries and benefit packages may be important for recruitment, providing quality-of-life incentives and enhancing working environments are more important for retention," Longwell concluded.
In my role where I am talking to candidates on a daily basis about why they are looking to change jobs, I often find that people change companies because they are looking for new challenges, or looking to develop their career, etc.... When I ask people why are they looking to move the answer is hardly ever "because of lack of pay or benefits".
I enjoy telling people about what it is like to work here at Oracle because I do believe we have some great people and a great culture that makes it enjoyable to be here. I may be a bit biased I know, but I do think we are one of the more progressive companies when it comes to looking after our employees.