Employee Retention / Employee Turnover/ Why Employees Leave Their Jobs

Survey Finds Only Half of Marketing Executives are Concerned With Employee Retention

With the job market improving, workers may be tempted to test new waters — and many companies are missing the boat when it comes to staff retention.  Only half (50 percent) of advertising and marketing executives polled recently said they’re concerned about keeping talent on board. 

The survey was developed by The Creative Group and conducted by an independent research firm and included 250 responses — 125 from advertising executives with the nation’s 1,000 largest advertising agencies and 125 from senior marketing executives with the nation’s 1,000 largest companies.

Advertising and marketing executives were asked, “How concerned are you about retaining current staff members if the job market improves?”  Their responses:

Very concerned		12%
Somewhat concerned		38%
Not very concerned		32%
Not at all concerned		18%
		100%

“Many companies don’t focus on retention until it’s too late,” said Tracey Fuller, executive director of The Creative Group.  “Now is the time for firms to ensure top performers feel valued and are fully engaged in their jobs.  Those who are respected and have consistently positive interactions with their managers will be more reluctant to leave, even when presented with attractive job offers.”   

Fuller noted that turnover can significantly reduce productivity.  “Organizations may lose skills and experience that are vital to the launch of new products or the implementation of other marketing initiatives,” she said.  “Tenured staff members not only understand a company’s unique style and goals, but also the nuances of client relationships and how to use the firm’s internal and external resources to successfully complete projects.” 

Fuller offered the following tips for retaining talented employees:

• Show them the money.  A competitive compensation and benefits package shows employees you place a fair value on their work.
• Encourage camaraderie.    Employees who have friends in the office are typically more satisfied and productive.  Promote activities that build rapport among staff members.
• Offer support.  Lend a hand and be willing to make concessions when employees encounter personal difficulties, such as an illness in the family.  This can be just as effective as money at promoting loyalty.
• Provide praise.  Acknowledge staff contributions.  Simple actions, such as recognizing someone’s efforts during a staff meeting or writing a thank-you note, can go a long way toward enhancing morale.
• Give them a break.  Everyone needs time to recharge to perform at his or her best.  To this end, consider giving your team a few extra days of vacation or closing shop early on a Friday.

Source: The Creative Group