Survey Finds Employees Will Stay Put in Job Higher Compensation and Advancement Opportunities
TORONTO, Aug. 8, 2019 /CNW/ - New research from global staffing firm Robert Half shows 80 per cent of Canadian employers are concerned about holding on to top talent, with more than one-quarter being very concerned ― and with good reason. A separate survey revealed 33 per cent of professionals plan to look for a new job in the next 12 months.
The retention tactics most often cited by employers were increasing communication with staff (42 per cent), improving employee recognition programs and offering professional development (each with 40 per cent). But when workers who said they intend to leave their jobs were asked what would entice them to stay, more money topped the list (51 per cent) followed by a promotion (18 per cent).
Senior managers were asked, "How concerned are you about your company's ability to retain valued employees?" Their responses:
Very concerned |
28% |
Somewhat concerned |
52% |
Not at all concerned |
20% |
100% |
Workers were asked, "Do you plan to look for a new job in the next 12 months?" Their responses:
Yes |
33% |
No |
67% |
100% |
Senior managers were also asked, "Which of the following, if any, retention strategies does your company use?" Their responses*:
Increasing communication with employees (e.g. town hall meetings, employee |
42% |
Improving employee recognition programs |
40% |
Providing professional development |
40% |
Enhancing compensation and benefits |
36% |
Providing reimbursement for ongoing education |
29% |
Working with interim staff to prevent burnout |
25% |
Facilitating mentorship programs |
24% |
None |
8% |
Other |
1% |
*Multiple responses were permitted. |
Workers who plan to look for a new job were asked, "What would convince you to stay at your job?" Their responses:
More money |
51% |
Promotion |
18% |
More time off/benefits |
16% |
New boss |
7% |
Nothing would convince me to stay |
8% |
100% |
"Turnover can be incredibly costly to businesses, not just in terms of lost time or money, but also through its impact on staff morale, which is why managers need to make retention an ongoing focus," said David King, senior district president for Robert Half. "Rather than scramble to keep valued workers from leaving, a proactive retention strategy will ensure employee engagement and satisfaction remain high, and business priorities stay on track."
"While competitive compensation is still crucial, there are a variety of offerings organizations can provide, such as career development opportunities and extra vacation days, to keep employees happy," added King. "Ultimately, professionals will stick close to companies who make an effort to encourage their professional growth, recognize their contributions and actively support their wellbeing."
For more advice on retention, visit the Robert Half blog.
About the Research
The online surveys were developed by Robert Half and conducted by independent research firms. They include responses from more than 600 senior managers at companies with 20 or more employees in Canada and more than 400 workers employed in office environments in Canada. The surveys were conducted in April 2019.
About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm. The company has more than 300 staffing locations worldwide and offers job search services at roberthalf.ca. For additional career and management advice, visit the Robert Half blog at roberthalf.ca/blog.
SOURCE Robert Half Canada
Natasha Ferraro, 647-956-5575, [email protected]
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