Finding and retaining the right talent, and simultaneously managing costs, is a perennial challenge for businesses of every size in every sector worldwide. The competition for talent is as fierce as ever, as the global population ages, the nature of work changes and companies look for the skills they need to grow. Organisations that overlook the proven advantages of detailed and frequent measurement around the cost of retaining, and losing valuable employees - especially high performance talent - are allowing profits to slip away instead of adding them to the bottom line..
It’s a shame, but people often value something only after it’s gone. In the case of retaining employees, it’s not just a matter of valuing the employee but a bottom line issue that may be the difference between hitting and missing profit expectations. The “war for talent” has shifted from being only a battle of acquisition to one of acquisition and retention. While we recognise that turnover of low performers may well be good for an organisation, more and more companies are asking themselves, “How do I keep the right people?” The turnover issue has long belonged to the realm of the Human Resources department. However, in the ultra-competitive world in which we live, turnover needs to be managed by both Human Resources and the line and may well be the difference between achieving short-term goals or missing them.
In this issue of the PwC HR Quarterly we provide some insights into the World of Work. Some of the topics covered are: :
|HR Quarterly 2012|
|HR Quarterly 2011|