Employee Retention is Getting Tougher
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Finding and Retaining Talent Is An Increasing Problem
... Sales People in Particular
Employers may need to consider a new
pitch to their sales forces as they struggle to retain existing talent and
recruit new talent. Nearly half of sales employers (48 percent) say it’s
harder to retain employees this year compared to last year. At the same
time, 79 percent of sales employers say they plan to hire new employees in
2007. Job growth in the sales industry may be driving workers to look for
better opportunities, and motivating employers to take competitive
measures in their recruitment and retention efforts.
With 40 percent citing the inability to find qualified workers as the biggest impediment to hiring, sales employers continue to focus retention efforts on making compensation packages more competitive. Twenty-seven percent of sales employers are increasing salaries/wages, 15 percent are increasing bonuses and 17 percent are offering more attractive benefits packages. More than one-third (34 percent) of sales employers are also increasing workplace flexibility, which in many cases includes flexible hours, telecommuting and job sharing.
Access to Employment Options Decreases Retention
More than a quarter (27 percent) of sales workers surveyed feel they have been overlooked for a promotion at their current job. Forty percent say they're unsatisfied with their pay, with 43 percent reporting they haven't received a raise in the last year. Only one-third (33 percent) of sales workers say they are satisfied with their work life balance, with 40 percent saying their workload has increased in the last six months and half saying their workload is either heavy or too heavy. In terms of career advancement, 26 percent are dissatisfied with their opportunities at their current position and 30 percent are dissatisfied with the training and learning opportunities.
While more than three out of five (64
percent) of workers say they are satisfied overall with their current
positions, 72 percent said they are either actively seeking or would be
open to a new job if they came across one. Sales is a highly competitive
segment that continues to experience strong levels of job creation, Top
sales workers will always be in demand, so organizations need to
continuously evaluate their compensation packages and look at distinctive
programs such as flexible work schedules in order to increase loyalty
amongst sales employees.
Nearly three million sales-specific resumes that have been updated in the last year are currently posted on job posting sites. Job seekers conduct nearly seven million searches for sales employment opportunities on the site every month.
Nip The Problem In the Bud with these Simple Steps
- Check your workplace
temperature - Measure employee satisfaction levels regularly
whether it be through informal discussions or organization-wide surveys.
If necessary, create action plans and implementation dates with employee
input and deliver on what’s promised.
- Break through the clutter
- Treat your job posting like a candidate treats a resume.
Communicate an employee brand that is accomplishment-based, highlighting
growth and stability, work culture, career advancement, etc. Include
testimonials from current employers and showcase examples of employees
who have worked their way to the top.
- Get specific - The more definitive you can be in a job posting, the better your chance of attracting qualified candidates. Everyone says competitive salaries and benefits - define what that means in your organization. Outline what flexible schedules and work/life balance programs entail, specifically address the training/courses available to employees in the first quarter, first year, etc.
Extensis is New Jersey's leading Small Business HR outsourcing solution. We work with our clients to craft the Optimal HR solution for their business. We assist in managing their total labor costs, while providing the support they need to attract and retain talent. HR planning is more than a rate chart, it requires experience and the flexibility that Extensis can provide your business.
For more information, go to www.extensispeo.com, or call 888-473-6398.