How to Retain Your Best Staff

In a competitive environment, companies must understand that it is better to retain qualified personnel rather than to invest funds looking in the market for workers.

Tuesday, April 17, 2012

A report entitled "Cutting Edge Talent 2020" by Deloitte, is based on a survey of global executives in large companies. Their conclusions apply to any market where there are shortages of workers with the necessary skills to get into competitive businesses. Central America is now an example of a market where the limitations of human talent can become a thorn in the side of business development.

The Deloitte report states:

Many companies are not addressing the critical needs and potential frustrations of their employees, and often they do not have a realistic picture of how employees perceive them according to a survey conducted in March 2011 with employees from global companies by Forbes Insights for Deloitte Consulting LLP. While corporate executives and talent managers are tempted to believe that the talent market has returned to normal and they can return to their "old ways of business" now that the economy is starting to grow again, our survey suggests that this strategy could put companies on the losing side in the competition for talent.

As part of the series ‘Talento de Vanguardia 2020 ‘ by Deloitte, this study examines the employees attitudes in order to provide in-depth knowledge about engines that are expected to lead the market for talent in the next decade. More specifically, the survey examines the differences between the attitudes and desires of employees and talent strategies and practices used by employers. This survey also compares the current views of employees with respect to their attitudes in the same period during the peak of the recession and the views of executives surveyed in October 2010.

Employers could be risking losing the hearts and minds (not to mention the heads and hands) of their employees: with there being a stronger economy, employees with repressed desires and intentions to leave their current employers, are more and more and more likely to try out the active labor market.

Almost two-thirds of employees surveyed who are looking for career options have strong negative opinions regarding what employers are doing to create exciting career plans and to open up opportunities for advancement.



More on this topic

Increase in Productivity and Human Talent

May 2019

The difficulties in identifying staff training needs and the lack of a clear relationship between new employee skills and incentives diminishes the possibility of achieving company goals.

According to the Deloitte 2019 Global Study of Human Capital Trends, in which more than 9,400 business leaders from around the world participated, including 261 from Costa Rica, the learning of business staff is the most relevant trend.

Headhunting in Panama

October 2014

The difficulties faced by companies in hiring high-profile executives are driving growth in the recruitment market in the country.

With the advent of more multinational companies in the sectors of logistics, banking and insurance, there is growing demand for qualified personnel to fill positions of managers, vice presidents or directors.

Dificulties to hire qualified staff increases in Costa Rica

July 2014

There has been a rise in the number of firms reporting difficulties in recruiting qualified staff, especially technicians, engineers and sales managers.

In one year the number of companies who said they found it difficult to fill vacancies grew by 11%, according to figures from a survey carried out by the human resources firm Manpower, which states that "...

Landing the Best Human Resources

June 2010

Attracting, hiring and retaining talent is imperative to make a company competitive; the methods to achieve this are changing rapidly.

In most productive sectors there are not enough qualified and experienced professionals. In some industries, such as software development, the lack of personnel is even more critical, making it crucial for companies to adopt staff attraction and retention policies.